2012 Olympics

[Scarlett]

Now that we are hosting the Olympics I have started to wonder what I should do with my house. I live literally 5 mins walk from the Sailing Academy where the Sailing will be held. I have heard that local people have taken their houses OFF the market, as they figure they will make a lot more in 7 years time, or in the run up to it...! Is this true, or is this an exaggeration? What impact will 4 weeks of games really have on London and other areas hosting them?

[mystress]

Hi Scarlett,

I understand the point of your post,but can I make afew points?

1.Your house(and your neighbours) will not be bought by Olympic Atheletes etc,they will live in the Olympic Village.

2.I cannot see Spectators of the games buying houses(as the games are short lived) they will stay in Hotels.

3.The Construction workers for the Games will either go home at night,or live in digs or bedsits near the site;and I cannot see the building companies buying house for that.

So just who do your neighbours think WILL buy these houses? and just why do they imagine their value will soar?

[stevie21]

Maybe they assume that their house values will go up as the local facilities (sports facilities, travel links etc.) will improve to accommodate the games?
The whole area will presumably get more than just a little lick of paint.

Also, there's the standard "rent your house out to tourists for a zillion quid" idea for the duration of the games.

[mystress]

stevie,

I take your point.However I believe the sailing will be in the Weymouth/Portland area of Dorset?So just what (permanent) improvements that will bring I don't know.

Perhaps Scarlett can enlighten us?

[WoWo]

I think thats pretty much the size of it, i.e. improvments in the area. The sailing will be in Weymouth where my mother in law lives. It's pretty nice there anyway can't see what they could do to improve it much.

[Scarlett]

Well Portland is quite run down, and does need a lot doing to it to make it half decent for people to visit. It is shameful at the moment! Weymouth also, although beautiful, is a bit tacky seaside-town-ish, and does need money throwing at it. I agree with you on the issue of why would anyone actually BUY a house there? Maybe because the area will be getting so much more attention than normal, it will have many many visitors, which bring money, and so the government will hopefully make an effort to tart it up.

Maybe I will just move out for the 4 weeks and rent my house out..