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Guest Disposable Heroes

London It's Zenith Are Real Development's Starting

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Guest DisposableHeroes

The Olympics will be massive stimulus to the economy of London. I can only see this assisting property prices.

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Guest DisposableHeroes
Yes, i agree. Can only help property prices. Stratford will be the next Chelsea.

This surprises me, like the article says though early day's I guess:-

A report from Hometrack Data Systems for Bloomberg published today makes for gloomy reading for those who have begun investing in east London's Stratford in the hope that the 2012 Olympics is going to lift values in the area.

House prices in Stratford are not just falling like they are every where else in London but falling faster than in the rest of the capital as a whole, says Bloomberg.

Average home sale prices in the E15 postcode area where the Olympic village is being built fell 10.9% to £197,000 in the year to July.

The borough of Newham, which includes Stratford, saw prices drop 10.4%. For all of Greater London, the decline was 8.5%, to £274,500.

It's not great but as Richard Donnell, Hometrack's head of research, points out it's a little optimistic to think the expected Olympic effect would have started to influence values just yet. This won't build until "about three years before" the Games, he tells Bloomberg.

Errm, well I seem to recall reading somewhere this week that we have three years to go for the Games, so by Donnell's calculation things have just started to improve.

The point is with all of the uncertainty around raising private sector funding and house prices Stratford and other relatively untried investment opportunities are clearly going to suffer more than established areas.

The fundamentals for Stratford to eventually benefit from the Games and as importantly the massive transport improvements that were being carried out any way remain sound

As Matthew Black, head of East London Business for CB Richard Ellis, says: "The London property market will inevitably recover and schemes which can build through these challenging conditions will be extremely well placed to take advantage of latent demand."

http://www.estatesgazette.com/blogs/olympi...ic-feeling.html

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The Olympics will be massive stimulus to the economy of London. I can only see this assisting property prices.

House prices shot up before the building started as speculators realised the government would have to buy up the land at "market rates" in order to flatten the houses etc and build the olympic facilities.

This is the main reason the price of the olympics has more than doubled.

They announced the location of the sites before winning the olympic bid. As soon as London win was announced the speculators moved in and snapped up the bargain bucket properties in the "deprived" areas. Property speculators made a profile of around £4bn at the taxpayers expense.

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Guest DisposableHeroes
House prices shot up before the building started as speculators realised the government would have to buy up the land at "market rates" in order to flatten the houses etc and build the olympic facilities.

This is the main reason the price of the olympics has more than doubled.

They announced the location of the sites before winning the olympic bid. As soon as London win was announced the speculators moved in and snapped up the bargain bucket properties in the "deprived" areas. Property speculators made a profile of around £4bn at the taxpayers expense.

Terrible really.

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Guest Skinty
They announced the location of the sites before winning the olympic bid. As soon as London win was announced the speculators moved in and snapped up the bargain bucket properties in the "deprived" areas. Property speculators made a profile of around £4bn at the taxpayers expense.

Yet another example of government incompetence. Someone should have sat them down and unexplained the concept of unintended consequences ...

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Any increase in London property value due to the Olympics will have been factored in on July 6th 2005. It's not surprising that it has lost value in the past year, everywhere has.

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Well, for £9bn and the rest, I would EXPECT it to be a stimulus.

course, two weeks after its finished, it will be a white elephant....

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Guest DisposableHeroes
Terrible really.

Don't get me started on the millennium dome.

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