Prices for houses in London are quickly rising in the boroughs of Waltham Forest and Newham. The average price for a house in Waltham Forest rose to 453,000 pounds, sixty thousand pounds higher than last year. A house in Newham increased to 372,000 pounds – a 14% increase. This is a result of the after effects of the London Olympics, which resulted in improved infrastructure. Homeowners were attracted by the green spaces, sports facilities, the proximity to London, and the ease pf transportation.
Key Takeaways:
- Waltham Forest,which includes Walthamstow and Leytonstone, is very popular with home buyers. Prices have risen an average of £60,000.
- Newham, home to Stratford, Canning Town and the Royal Docks, also saw home prices rise.
- The Olympic boroughs are trendy and have benefited from regeneration and transportation improvement projects.
“However, the price rises are also a consequence of the “ripple effect of affordability”, according to eMoov’s CEO Russell Quirk”