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.
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