Property investors in London could find that East London offers some long-term bargains, despite an Olympian boost in house prices since 2005.
The latest figures from Lloyds TSB have found that homeowners in the fourteen postal districts in this part of London have on average seen house prices rise more than a quarter (26 per cent) year-on-year.
This is still below the London average of 36 per cent, meaning that landlords looking to enlarge their portfolios could still benefit.
Stratford, where the Olympic Stadium is located, has only experienced a three per cent rise.
However, long-term investors could see the biggest gains as prices continue to go up after the Olympics takes places.
Suren Thiru, Lloyds TSB's housing economist, said: "Looking forward, property prices across East London are likely to receive a boost from the legacy of improved infrastructure and transport links left by the London 2012 Olympics."
He added that the rise since 2005 can be down to both buyers and investors wanting to capitalise on the additional benefits of regeneration in the east.
The average house price in the east of London has now gone up from £209,170 to £262,953.
See Also: Property News (5994)
Date Published: 29 July 2010
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