The Impact of the London Olympics Announcement on Property Prices
Posted: 13 Feb 2010 Last revised: 10 Jun 2012
Date Written: June 9, 2012
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.
Keywords: Property Prices, Hedonic Model, Olympic Games
JEL Classification: H0, L83, R53
Suggested Citation: Suggested Citation