Olympic Impact!

comicmankev

I heard on the news yesterday morning that some house prices had increased 70% in the Stratford are overnight due to the Olympics!!! What do you all think about this? And are the investors going to be crying out for properties in Stratford area??

margaretclare

People have been talking about a possible increase in house prices where we live. Southend Airport is going to be developed as a small regional airport (not another Stansted), a 'feeder' airport for the other London airports and a way of getting to continental Europe very quickly. A new rail station is going to be built within the next couple of years and this station will be within walking distance of where we live (we're right opposite the end of the runway at Southend airport). There will be a very quick connection to Liverpool Street and also a connection with other European destinations. I've heard it said that our properties here might increase by 30% and that was before the successful bid for 2012.

Margaret Clare

meanmachine_2

Possibly, but in my opinion I'd pay good money to steer well clear of an airport.

Stratford has already been enjoying a regeneration of sorts. Personally I think the high speed rail link is much more important than a 4 week event some 7 years away. But then I'm old fashioned.

Also, I'm afraid it looks as if the Olympics is going to make us more of a terrorist target than we were before. It's win-lose really.

Milky_Mocha

meanmachine wrote:

Possibly, but in my opinion I'd pay good money to steer well clear of an airport.

Stratford has already been enjoying a regeneration of sorts. Personally I think the high speed rail link is much more important than a 4 week event some 7 years away. But then I'm old fashioned.

Also, I'm afraid it looks as if the Olympics is going to make us more of a terrorist target than we were before. It's win-lose really.

I strongly agree :T

karenj

So the extended metrolink network in the north west will probably never happen now that London has won the bid... I think that is more important because as meanmachine says that for 4 weeks, all this effort is now going to be concentrated on getting a stadium for the Olympics. Glad I live in Spain - now I won't be charged double for my council tax to pay for all this, even though I lived in the NW of England!!

Crown

Property prices in stratford already have had a major boost over the last 2 years and property investors where much aware that the olympics could make them a pretty penny and have been buying there for ages.

I have a property in Woolich what will also benefit from the Olympics due to the new DLR extensions and the general redevelopment of East London.

I personally feel that higher council taxes are a small price to pay for the amount of money the games will produce for the Economy (ie Jobs/tourism ect) and I would still think this even if I did not own property. It should boost many small business in the area.

lush_walrus

comicmankev wrote:

I heard on the news yesterday morning that some house prices had increased 70% in the Stratford are overnight due to the Olympics!!! What do you all think about this? And are the investors going to be crying out for properties in Stratford area??

My personal opinion is that this is not at all a realistic representation on the changes occuring at Stratford. Stratford has indeed already received lots of investment prior to the Olympic bid and as such the prices have risen at an amazing rate.

The area is still however neglected in areas but I think there are better investment areas out there in London. If you want to know where, then follow the areas which are being regenerated via English Herritage (HERS grants), which include Bruce Grove, Edmonton. Both of these areas have been receiving grants for the past three years in attempts to regenerate the area. Although only available to shops, the areas are showing signs of regeneration, and with regeneration an area becomes more attractive to people who can not afford the already regenerated neighbouring areas.

WiseInvestor_2

karenj wrote:

Glad I live in Spain - now I won't be charged double for my council tax to pay for all this, even though I lived in the NW of England!!

Funding for the Olympics will be provided by:

One Third - Government Grants
One Third - National Lottery
One Third - LONDON Council Tax increases

The rest of the UK will not be expected to pay for the extra investment required

The Olympic Games coming to London is fantastic news for this country!

stratford_2

WiseInvestor wrote:

Funding for the Olympics will be provided by:

One Third - Government Grants
One Third - National Lottery
One Third - LONDON Council Tax increases

The rest of the UK will not be expected to pay for the extra investment required

The Olympic Games coming to London is fantastic news for this country!

I agree with your main point, that effectively UK taxpayers won't form the main bulk of the funding for the Games, but the proportions you mention are incorrect and there are also other sources of funding. See here for more details:

http://www.culture.gov.uk/sport/london_olympic_bid_2012/funding_olympic_bid.htm

zag2me

I heard it was going to cost every citizen 64p extra a year, well worth it imo.

meanmachine_2

I think it's a real positive, and should help turn a horrible area of London (no offense!) into something a little more habitable.

But I think the government should be a little more upfront about how much it's going to cost us. I believe Athens cost £10bn, not the three billion originally estimated.

You can be sure the govt will claw it back somehow...