London success paves way for affordable housing

07-Jul-2005

The news that London will host the 2012 Olympic Games has provided a shot in the arm for those in the capital looking to get on the first rung of the property ladder.

Central to London's bid was a commitment to create a sustainable Games, whereby the buildings created for the Olympics will be used as part of a larger regeneration project to take place in the east-end.

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And the fact that London will now be hosting the Games means that there can be no let-up among developers in the drive to regenerate the area, through the creation of affordable housing schemes that will be sold off to aspiring homeowners after 2012.

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Aspiring first time buyers in the capital will have the opportunity to own their own property in the east-end, as the eyes of the world turn to the area and increasing pressure will be put on developers to ensure that cost-effective, affordable housing schemes are implemented.

One of the main areas set for affordable housing after the Games have been held will be the Olympic Village, which will be built to host all the competing athletes, with many aspiring homeowners likely to benefit from these properties after the summer of 2012.

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