Lea to be valley of opportunity

21-Mar-2005

London's bid to host the 2012 Olympic Games could provide London with a major opportunity to boost its affordable housing portfolio.

If London wins the Games, the east of the city will see a massive regeneration project, changing the entire area into a modern Olympic village.

Some of those bold schemes are already underway, as the bid committee look to impress judges, and as such home buyers are set to benefit whether or not the Games are awarded to the UK.

The Lea Valley is to undergo extensive regeneration and there will be a major influx of affordable housing into the region, as the bid team looks to ensure that their plans provide a sustainable future once 2012 has passed.

Affordable housing is desperately needed across the country, but no more so than in London where house prices are nearly always the highest in the country.

The Olympic Village will provide 17,000 beds to host the world's elite athletes, but will also then be turned into housing for those in the London area, and planners believe the opportunity will bean invaluable exercise in testing out how best to implement sustainable housing schemes.

That means that, should the project prove successful, developers will be well-schooled in how to provide cheap housing - a magnet for first time buyers - not only in London but across the UK.

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