House prices in Olympic districts soar 45pc since 2005

House prices in Olympic districts soar 45pc since 2005

Four of the closest areas to the park – Dalston, Homerton, Shoreditch and Bethnal Green – all enjoyed house price increases of more than £115,000 since London won the Olympic bid. Daltson recorded the largest increase (£165,606), followed by Homerton (£161,147), Shoreditch (£151,487) and Bethnal Green (£116,709).

Nitesh Patel, housing economist at Lloyds TSB, said: “The regeneration of East London as a result of winning the bid to host the 2012 Olympic and Paralympic Games has seen large investment in infrastructure, rail and tube networks. A major shopping mall served the Games and importantly, the wider area over the longer term.

“Home owners in the 14 postal areas closest to the Olympic Park have seen the average value of their homes rise by £1,000 per month since July 2005. Prices in this part of East London have, on average, increased at a faster rate than in England, Wales and Greater London as a whole. The impact on future property values will continue to depend on how the Olympic site is transformed as a place for the community.”

Change in house prices in postal districts close to the Olympic Park, March 2012 – March 2013

Postal district Average house price – March 2012 Average house price – March 2013 Change (%) Change (£)
Manor Park £219,847 £258,061 17.4% £38,213
Clapton £313,181 £365,728 16.8% £52,547
Shoreditch £331,561 £371,654 12.1% £40,003
Dalston £355,110 £397,914 12.1% £42,804
Homerton £337,462 £376,419 11.5% £38,957
Bethnal Green £310,308 £345,134 11.2% £34,826
Walthamstow £227,536 £250,667 10.2% £23,131
Leyton £213,659 £229,004 7.2% £15,345
Leytonstone £308,590 £329,894 6.9% £21,304
Bow £294,023 £313,324 6.6% £19,302
East Ham £201,479 £207,888 3.2% £6,409
Stratford £229,204 £236,226 3.1% £7,022
Plaistow £190,067 £193,159 1.6% £3,092
Forest Gate £228,317 £228,839 0.2% £522
East London average £271,519 £298,603 10.0% £27,084
England and Wales average £230,075 £239,887 4.3% £9,811

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