Lloyds TSB highlights London house price trend

Date:Wednesday 28th July 2010
Author: Susanna Kavka

The improved transport links and regeneration efforts associated with the Olympic Games may have been a factor in a recent surge in house prices in east London, a Lloyds TSB housing expert has stated.

Suren Thiru, housing economist at the institution, pointed out that there is likely to be a legacy of improved infrastructure as a result of the sporting event.

He said: "Some areas close to the Olympic Park have experienced a sharp rise in property prices since London's successful bid to host the 2012 Olympic and Paralympic Games."

The Lloyds TSB spokesperson stressed that the picture is "mixed" in the neighbourhoods in question, but he predicted certain places could continue to see the value of homes rise.

Prices in the Hackney boroughs of Homerton and Shoreditch have seen 69 per cent and 53 per cent rises since 2005, according to the firm's research.

Yesterday (July 27th) marked two years until the Games are set to kick off in the English capital city.