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East London buy to let insurance customers 'to see Olympics boost'
28 Jul 2010
Prices in the east London property market are set to rise at a faster rate than those in the rest of the capital in the run up to the 2012 Olympic Games, an industry expert has said, which may be encouraging to buy to let insurance policyholders in the region.
Since London was awarded the Games in 2005, prices in east London have increased by an average of 26 per cent, while Homerton and Shoreditch have seen average rises of 69 and 53 per cent respectively.
Richard Everitt, franchisee of the Stratford office at Winkworth, said that property in east London was set to receive a boost from both the Olympics and the regeneration of the area.
"It is all pinned by the general regeneration of the area. With the Olympics, all it has done is it has accelerated it. The Westfield site opening up is going to be a major part of all this regeneration," he said.
Mr Everitt added, however, that in order to take advantage of the increased interest in the area, buy to let insurance customers would have to ensure that their properties were completed to an attractive standard.
Posted by Jonathan Walker
