Many experts and local realtors bet heavily that the 2012 Summer Olympic Games held in London would stoke the coals of a struggling housing market with regard to prices and sales volume, but as it happened the Games resulted in a buying freeze. Now, analysts say that Stratford is set to become one of the most desirable – and affordable – areas of town when units in its East Village become available next year. Employment opportunities, access to services and smart transport links are just a few amenities expected to draw buyers to the area. For more on this continue reading the following article from Property Wire.
Stratford's new Olympic Park neighbourhood, is expected to become one of London's most desirable postcodes when homes in the area become available in 2013, it is claimed.
A study published by the Centre for Economics and Business Research (Cebr) assesses the fundamental features of London's newest postcode, in effect London's first Olympic legacy neighbourhood, to compare it to the capital's other key residential areas.
The Cebr's London Residential Fundamentals Index concludes that the combination of transport links, quality of life, local services, and access to employment opportunities in E20 rivals such well established and desirable north and west London districts as Highbury and Hammersmith.
At the heart of the area is the East Village development. When it is ready for occupancy next year, it will provide more than 2,800 high quality homes. Almost half are designated affordable homes, while the remainder will be available for private rent, giving the choice of buying or renting to people with a range of incomes.
East Village has been described as ready to be one of London's best connected residential areas, with train journeys to St Pancras taking six minutes, to the City 10 minutes, Canary Wharf 12 minutes, and the West End 20 minutes.
It is claimed that this super fast connectivity will support employment in the area, along with the proximity of Westfield Stratford City and the International Quarter, a new commercial hub within the E20 postcode itself.
The liveability factors in E20 which Cebr took into account included access to vast areas of outdoor space. Each property in East Village will have access to private balconies and communal courtyards, as well as being surrounded by public gardens, an orchard and wetland area.
There are also world class sporting facilities, highly rated education at the new Cobham Academy, part of the renowned Harris Federation, and state of the art medical facilities. The community will be further supported by around 30 neighbourhood cafes, restaurants and shops.
This much maligned corner of east London, neglected for decades, is set to become a success story. The regeneration associated with the Olympic Games will soon give rise to one of London's most exciting residential areas,' said Cebr analyst Oman Ismail.
'It's an outstanding living environment, contributing much to the broader regeneration of east London. Our prediction is that E20, and East Village in particular, will be a highly desirable place to live,' he explained.
'The neighbourhood will suit a range of needs including families who want more space, professionals who want a safe and desirable place to live, and key workers and ex-service personnel who want high-quality homes in a thriving area. Our research indicates that, based on its unique combination of assets, E20 will compete with the likes of Hammersmith and Highbury, and offer its residents far more than many established London hot spots,' he added.
This article was republished with permission from Property Wire.