Olympic Revival Fizzles in East London as Home Prices Drop
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Prices of homes close to London’s Olympic Park fell over the past year as signs of revitalization in one of the U.K.’s poorest areas failed to materialize and overseas buyers focused on more central districts.
Residential property values near the 560-acre (227-hectacre) site in east London fell as much as 7 percent in the year through July, Zoopla.co.uk said yesterday. Homes near the Olympic Stadium have risen about 19 percent since the city won the right to host the 2012 Games five years ago, compared with a gain of 27 percent across the capital, the real-estate website said July 25.