Partner Article

Property values in London Olympic postcodes have skyrocketed 43% since 2012

Despite continued doubts about the lasting public health legacy of the London Olympics four years ago, property values in and around Stratford are still feeling the benefits of the 2012 games according to new research.

This figures, which have been put together by online estate agency eMoov, show that house prices in the E20 postcode, which covers the residential complex at the former Olympic Village, have jumped 43% in the last five years with average values now standing at £459,199.

This outstrips the 38% increase in average house prices experienced across London as a whole, which rose to £518,717 over the same period, and dwarfs the 24% jump in average house prices England-wide which now stands at £257,567.

The former Olympic Village, which is now known as East Village, was constructed on a former contaminated waste land by developers Lend Lease, and is now home to 2,818 residential units of which 1,379 are affordable homes.

Chief Executive at eMoov Russell Quirk, believes that, regardless of debates about the lasting benefits of the 2012 games, the East London regeneration boom in Stratford has helped rejuvenate the property market in the area.

He commented: “It goes to show that regardless of whether you thought the London Olympics was money well spent or not, the regeneration of what was essentially an East London wasteland has helped to breathe new life into the area where property is concerned.

“Yes, the area may have benefited more so because of the games, but we’re now four years on and the Olympic Park has seen a larger property value increase than the capital as a whole. That’s no coincidence.

“What has been done with Stratford should be an example that we should look to replicate right across London.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.