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London’s 2012 legacy: Property prices race ahead in Olympic Boroughs

The six Olympic boroughs for London 2012 have outperformed most other local authority areas in the host city in terms of house price growth, according to Property Partner.

The firm reports that major financial investment has helped boost property prices by an average 64% over the last four years in the ‘Olympic Boroughs’ of Hackney, Newham, Barking and Dagenham, Greenwich, Tower Hamlets and Waltham Forest. Meanwhile during the same period, the average property price rose by 53% across the capital’s 32 Boroughs. Waltham Forest won gold in London for the strongest price growth (76%) and the average cost of a house today in the East London borough is £418,146 - up from £236,796 in 2012.

Other notable risers include the boroughs of Hackney (67%) and Newham (63%), taking third and fourth position in the rankings respectively. Non-Olympic borough Lewisham squeezed into second place, with average house prices accelerating by 68% in the four years partly due to interest from homebuyers in Blackheath, Brockley and New Cross.

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