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'Increased demand' for east London properties July 28, 2010

Property prices in east London will rise faster than the rest of the capital in the build-up to the Olympics, it has been suggested.

Richard Everitt, franchisee at estate agent Winkworth's Stratford office, said that both the Games and other projects being launched in the area will contribute to the demand.

"It is all pinned by the general regeneration of the area. With the Olympics, all it has done is accelerated it," he remarked.

Mr Everitt pointed to Westfield, the Stratford City shopping centre which will generate 18,000 jobs, as a major source of progression.

The emerging developments on Stratford high street will also have a part to play in increasing demand for properties, he added.

Lloyds TSB recently reported a 26 per cent rise in east London house prices since the capital won its bid in July 2005.

In Homerton and Shoreditch, both in the borough of Hackney, property values have risen by 69 per cent and 53 per cent respectively.

© Adfero Ltd

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