Press

2012 sees the arrival of the Olympic Games to East London. This is expected to have a huge effect on the property market in the area. Investors, agents and landlords are all waiting with baited breath to see how this pans out.

The influx of tourists, athletes, participants and business officials is expected to see a rise in the need for rented accommodation.

Many investors are on the lookout for bargain sale and rental properties in the area that could leap up in price when the Olympics arrive. If they can locate the next hotspot area, then they could stand to make a lot of money.

At NetMovers, we took a look at some average prices from areas surrounding the Olympics so you can decide whether investing in an East London pad could be a shrewd financial move.

Stratford is an area that recently has seen an increase in price and popularity. It has been a success story that many property developers are hoping to emulate. According to our statistics, £283,000 is the average price for a property with a Stratford postcode.

An area that is expected to see an increase in home prices is Hackney. If you have £380,000 to spend, then you could grab a pied-à-terre here, as this is the average price for a two bedroom semi-detached flat.

A home in the West Ham area costs an average of £308,000, which may excite some potential investors, landlords and homebuyers. This figure could be set to rise when the Olympics get started this summer.

The full extent of how the Olympics Games will affect the east London housing market is yet to be seen. However, early signs suggest that an event as monumental as the Olympics is going to drive property prices and rents up steeply.

If you are looking to invest in a new property, then east London could give you a good return. With prices set to rise in 2012, the area may just prove to be an investor's dream.