The Impact of the London Olympics Announcement on Property Prices
AbstractThis 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 Â£1.4 billion, having substantial social and financial implications for existing residents.
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Bibliographic InfoArticle provided by Urban Studies Journal Limited in its journal Urban Studies.
Volume (Year): 49 (2012)
Issue (Month): 7 (May)
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Web page: http://www.gla.ac.uk/departments/urbanstudiesjournal
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- Gabriel M. Ahlfeldt & Georgios Kavetsos, 2011.
"Form or Function? The Impact of New Football Stadia on Property Prices in London,"
SERC Discussion Papers
0087, Spatial Economics Research Centre, LSE.
- Ahlfeldt, Gabriel M. & Georgios, Kavetsos, 2010. "Form or Function? The Impact of New Football Stadia on Property Prices in London," MPRA Paper 25003, University Library of Munich, Germany.
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