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The Property Market: Buy-to-let, The Olympic Effect And House Prices In The North

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— A London estate agent is blaming what he calls the “Olympic curse” for a fall in buying interest in areas where the Games will be held in 2012. “When London won the Olympics, there was a real buzz about east London as a property hot spot,” says Shane Jackson, sales director of Atkinson McLeod. But potential buyers have dried up, possibly because “in people’s minds, east London is going to be one gigantic building site for the next five years”.
The continued oversupply of flats in Leeds city centre means that prices there “remain static at best”
“The average new home sold to people today is significantly smaller than that built in the 1920s,”

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Wednesday, 06 Jul 2005 15:45

Mortgage lenders and estate agents are predicting a rise in demand for property in east London after the International Olympic Committee chose London to host the 2012 Olympic Games.

All that talk about houses in East London shooting up in value thanks to the "Olympics effect" is clearly shown to be the guff it obviously was.


Stratford, the next big up and coming area... <_<

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Not sure about selling prices but asking prices have gone up quite a chunk since 2005 in east London. It was possible to get a 2BR house for 160-170K in August 2005 - now nothing is under £200K in the East Ham area. There's a fair bit coming onto the market and going to sold in a few weeks (and anything bigger than a 2BR seems to be getting converted into flats). It's not quite over yet - more's the pity.

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