London Property News Headline
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the East London property market become more popular.Liam Bailey, head of residential research at Knight Frank, noted the Games, which get underway on July 27th, will drive the sector and this could incentivise lettings in London.
"Once ... you can see the Olympic Village being transferred over to housing and so on, then it will become more apparent all of the improvements that are being made there," Mr Bailey observed.
He went on to note anyone buying in the east of the city should be aiming for Stratford or near to the City of London.
It comes after figures from the Office for National Statistics for March showed that UK house prices dropped by 0.4 per cent year-on-year.
However, London has performed better than the Nationwide average, with the decrease restricted to 0.2 per cent - the first year-on-year reduction since October 2009.
Posted by Martyn Glynn
Read Article ... Published on 24th May, 2012
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