London house prices near 2012 Olympics venue soar since games were held

Property values close to where the London 2012 Olympics was held have sprinted ahead over the last five years, analysis has found.

House prices in the postal districts in East London which are closest to the London Stadium, have increased by £4,279 per month on average between September 2012, at the close of the Paralympic Games, and April 2017.

The average house price in the area has surged by 64%, from £286,683 in September 2012 to £470,687 in April 2017, Halifax found.

The increase has out-performed London as a whole, which has seen house prices rise by 38% since September 2012.

On average across England and Wales, house prices have increased by 19% over the last five years.

Since the end of London 2012, the average house price in Walthamstow has doubled from £238,348 to £479,421, an increase of £241,073 or 101% - the fastest increase among the 14 areas close to the Olympic Park.

Five other areas have also seen price rises of over £200,000 - Homerton, Clapton, Shoreditch, Dalston and Leyton. All 14 areas analysed have recorded price growth of over £125,000 during the period, Halifax said.

Martin Ellis, a housing economist at Halifax, said major regeneration has boosted areas of East London.

He added: "Large scale infrastructure investment in the existing tube networks, an international rail station and now Crossrail have not only created jobs in the area, but improved options for people to move around the capital."

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