Photo: Daniel0685

Research from Lloyd Bank shows that property values  in areas surrounding the Olympic Park have increased by £1,500 per month since London won the bid in July 2005. The average property price in the 14 postal districts in East London closest to the Olympic Park has grown from £206,191 in July 2005 - when the Games were awarded to the capital - to £378,8842 in March 2015 – an increase of 84 per cent or £172,693, which is equivalent to a monthly increase of £1,476. This rise is more than twice as fast as seen in England and Wales; nationally property values grew on average by 41 per cent over the period - from £185,672 in July 2005 to £261,962 in March 2015.Recent price performance in areas surrounding the Olympic Park also compares favourably with London as a whole. Since the end of the Games in September 2012 the average price in the 14 East London areas has out-performed London with an increase of 33 per cent compared to 25 per cent in the capital as a whole. Over the same period average property values in England and Wales grew by 12 per cent.Andy Hulme, Lloyds Bank mortgages director, comments; "When London won the bid to host the 2012 Olympic Games many within the organising committee saw this as the perfect opportunity to regenerate the East London area. A decade on, the impact of major investment is there for all to see; improved rail and tube networks, a high class retail environment and the gradual conversion of the Olympic sites into residential homes."The improved attractiveness of living is this area of London has resulted in rising property values. Since July 2005 average house price in the 14 areas closest to the Olympic Park has increased at more than twice the average rate in England and Wales. And, since the end of Games in September 2012 price growth in this area has out-performed London as a whole."

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