The London 2012 Olympics are introducing
more expensive
houses for sale, UK residents fear.
Home prices in Stratford, in particular,
have risen dramatically as the Olympics draw closer, prompting the arrival of
Foxtons estate agents.
The Olympics have put the eye of the world
on Stratford, Sales Manager Alex Leigh told the
Guardian: “It’s brought attention to an area that perhaps wouldn’t
have had the same attention otherwise.ââ¬Â
For some Stratford residents, the resulting
price rice of 13 per cent is bad news. Rents and mortgages have become more
expensive, although the boom is good news for buy-to-let investors and existing
landlords.
Foxtons expects a rise in young
professionals in the area, drawn by the Olympics and the new Westfield
development. As people flock to the East London town for sports and shopping,
Stratfordââ¬â¢s property market is booming. And with new opportunities and expensive houses for
sale, UK property investors will be ready to compete.
