Olympic house prices up £800 a month since 2005

Published by Rebecca Rutt on 27 February 2012.
Last updated on 27 February 2012

Houses prices near the main site of the London 2012 Olympic Games have increased by more than £60,000 on average since July 2005.

London was awarded the Games six years ago and since then nearby house prices have increased by a massive 30%, which is equivalent to a monthly rise of £815, according to research from Lloyds TSB.

The average price across the 13 postal districts was £268,884 in November 2011, an increase of £62,739 over the past six years.

Dalston and Homerton in Hackney have seen the greatest rises of 55%, with the average house price at £359,436 and £332,102 respectively.

But despite these impressive gains, houses in the East of London still remain relatively affordable and are 22% below the London average of £342,551.

"Overall house price performance among the postal districts that are in close vicinity to the Olympic park has been generally positive since London's successful bid in 2005. Some areas close to the main site for the 2012 London Games have experienced a sharp rise in property prices, reflecting increased buyer interest as well as the regeneration taking place there," says Suren Thiru, housing economist for Lloyds TSB.

% changes in house prices in London postal districts since July 2005

Postal district July '05 Nov '11 % change £ change
Dalston £232,308 £359,436 55% £127,128
Homerton £214,952 £332,102 55% £117,151
Shoreditch £220,077 £323,011 47% £102,934
Clapton £217,900 £314,111 44% £96,211
Bethnal Green £228,425 £303,383 33% £74,959
Leytonstone £234,232 £304,887 30% £70,655
Bow £224,285 £285,163 27% £60,878
Leyton £181,039 £217,947 20% £36,908
Walthamstow £191,139 £227,036 19% £35,987
Stratford £201,247 £227,983 13% £26,646
Manor Park £202,244 £226,451 12% £24,207
Forest Gate £198,408 £221,412 12% £23,005
East Ham £186,808 £200,625 7% £13,817
Plaistow £179,005 £188,760 5% £9756
East London average £206,145 £268,884 30% £62,739

 

 

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