The Impact of the London Olympics Announcement on Property Prices

Georgios Kavetsos

Urban Studies, 2012, vol. 49, issue 7, 1453-1470

Abstract: This study estimates the impact of the London 2012 Olympics announcement on property prices. Using a self-constructed dataset of a sample of property transactions, it is estimated that properties in host boroughs are sold between 2.1 and 3.3 per cent higher, depending on the definition of the impact area. A similar investigation based on radius rings suggests that properties up to three miles away from the main Olympic stadium sell for 5 per cent higher. It is estimated that the overall impact on the price of properties in host boroughs amounts to £1.4 billion, having substantial social and financial implications for existing residents.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:49:y:2012:i:7:p:1453-1470

DOI: 10.1177/0042098011415436

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