Oh dear: London 'set for house price boom'

[Francko]

London 'set for house price boom'

news.bbc.co.uk/1/hi/business/4656927.stm

London 'set for house price boom'

The Olympics could trigger a fresh house price boom in the capital
London house prices could be set for bumper rises following the announcement that the city will host the Olympics in 2012, the Halifax has said.
The bank found the last four Olympic cities experienced rapid house price growth in the run-up to the games.

Barcelona, Sydney and Athens all saw house prices rise by more than 50% in the five years before the games.

Halifax said properties in Hackney and Stratford could benefit most from Olympic-fuelled price growth.

Land sales

Overall, house price inflation in the past four Olympic cities has outstripped the national averages.

HOUSE PRICE RISES IN OLYMPIC CITIES
1992: Barcelona +131% (Spain +83%)
1996: Atlanta +19% (USA +13%)
2000: Sydney +50% (Australia +39%)
2004: Athens +63% (Greece +55%)
Source: Halifax (Rises over the five years prior to the games)


London beats Paris to Olympics

According to one London estate agency the price of land in the east end of the capital, near the proposed Olympic site, could rise soon.

"Almost overnight any land that can be developed will go," Dan McLeod of estate agency Atkinson McLeod told BBC News.

"This is the best news for the property market in this area for years," he added.

"Since the announcement, we have already had calls from investors asking about properties to develop in the east end."

House price inflation in the UK and London has slowed over the past year following the five increases in interest rates between November 2003 and August last year.

[AtW]

1992: Barcelona +131% (Spain +83%)
1996: Atlanta +19% (USA +13%)
2000: Sydney +50% (Australia +39%)
2004: Athens +63% (Greece +55%)

Note that overall price increases in respective countries are just below price increases in "Olympic areas", that are -- suprise, suprise -- located in capitals or major cities that are bound to have higher price growth than overall in the country. Thus, its a load of bull to prompt dieing market. Its going to be 7 long years until the games that will only last few weeks, it will all end in tears.

[Lucifer Box]

London house prices could be set for bumper rises following the announcement that the city will host the Olympics in 2012, the Halifax has said

So no vested interest there then.

[zathras]

To quote an old Busby Berkley Song

'We're in the money, We're in the Money'

Apartment has nearly doubled in value since I bought it now looks like making another bunch of dosh!

[DimPrawn]

Well there's certainly a BOOM in London today and for the foreseeable future....

[BlasterBates]

Hey put that other picture back.

Damn it.