The Olympic Effect on UK Property
London Olympics 2012 — a Legacy of Success
London 2012 has built a foundation for success for Team GB athletes (currently winning heaps of medals in Rio). The Olympic Effect has also boosted house prices in neighbourhoods that hosted events in London and across the country.
To gauge which Olympic hotspots benefited most from hosting competitions, easyProperty has assessed house prices in the four years since the London 2012 Olympics.
The Olympic Effect: East London property and beyond
The regeneration of East London was a major goal of the Games, and it looks like Newham, home of Stratford’s Queen Elizabeth Olympic Park, is a true gold medalist.
Gold: Newham has seen a 64% rise in house prices and a huge 70% leap in property transactions in the years since the 2012 Games (compared to the previous four years).
Silver: Merton (home of Olympics tennis at Wimbledon) served up a 58% rise in home prices.
Bronze: Greenwich (archery, equestrian, gymnastics and more) saw a 57% uplift.
Coming up on the inside: Broxbourne (canoeing and kayaking at Lee Valley White Water Centre) was buoyed by 50.77%.
The average house price increase throughout Great Britain during the same period was 23.96%.
Home sellers are the big winners
Home sellers living in Olympic hotspots can score big savings with easyProperty’s low fixed fees, as you’ll see in the table above. The money saved really adds up: a massive £14,000+ in Westminster, over £9,400 in Richmond, and £8,300+ in South Buckinghamshire. A winning move, if you’re thinking of selling.
How much is my home worth now?
A free no-obligation market appraisal is the best way to determine your home’s current value, whether or not the Olympic Effect is in play. Our Market Appraisers calculate an accurate price based on current market conditions, your home’s size and location, and its unique features.
To discuss your options, get in touch on 020 3096 5306. A member of our team will be more than happy to speak with you about current market conditions in your area.