Areas near 2012 London Olympics continue to see economic boost after a decade
A decade after the London Olympics, areas nearby the event are continuing to feel positive economic impacts.
Stratford’s E15 district has seen its economic vitality index score grow by nearly a quarter, according to analysis firm Evaluate Locate, some 15 per cent higher than the average rate seen across the rest of the country.
The number of active businesses in the area has climbed more than 100 per cent in the 10-year period.
Stratford has also benefited from a growth spurt in local jobs and population.
Meanwhile, seperate research by Lloyds Bank has found that in other Olympic-graced areas, the average price of a home has flown.
Properties in Waltham Forest have surged 122 per cent to £537,277, with similar jumps of 98 per cent recorded in Newham and Hackney to £429,734 and £705,101 respectively.
Jayne Jones, mortgage and protection director at Lloyds Bank, said that “transforming a derelict industrial estate into the Queen Elizabeth Olympic Park, together with a wider regeneration in the area, has attracted investment from retail, leisure, industry, the arts and education, and has generated thousands of jobs.”
It comes as Conservative leadership contender Rishi Sunak pledges to save green belts and instead build new homes on brown field sites – now disused industrial land – as a lack of housing stock becomes an increasingly politicised issue.