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East End house prices get Olympics boost


House prices in the East End of London have long been expected to do well out of the upcoming Olympic Games, and a new report from Lloyds TSB has revealed the extent of the borough’s fortunes. Property buyers in the East End have seen prices rise by more than £200 a week since London was awarded the Games, adding an impressive £70,000 on average since 2005, outperforming the national market in the past year.

In March, the average house price across the 14 postal districts closest to the main site for the London 2012 Olympic and Paralympic Games stood at £273,157, and has risen by 1.6 per cent in the past year compared with a 2.2 per cent fall nationally in England and Wales. Dalston is the most expensive location, with the average house price standing at £355,963.

Suren Thiru, housing economist at Lloyds TSB, said: “This partly reflects greater interest in these locations from both buyers and investors emanating from the award of the Games and the large scale regeneration taking place there, including improved transport links.

“However, the real Olympic legacy for the East London property market may well only be seen long after the closing ceremony as the dramatic transformation of this part of the capital is completed.”

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