Wapping an early winner in London’s Olympic letting race

With more than two years still to go before the start of London’s Olympic Games, the lettings market is already starting to benefit says property consultants Cluttons.

Key senior Olympics officials have recently taken up residence in Central London, renting properties in and around Wapping with its quiet location and classic warehouse conversions. The opening of the East London Line this spring is also set to radically improve links to the heart of the games at Stratford from the area, renowned for its city worker residents.

With the games themselves set to create a further 100,000 jobs for contractors in addition to an estimated 6,000 full-time staff, the influx of those wanting to rent in and around the Capital is likely to increase vastly over the next two years.

Lynn Hilton, Partner for Residential Lettings at Cluttons, said:

"London is only just beginning to witness the enormous boost that playing host to the games will bring. Living at the heart of the Capital is massive draw for all those involved as there are few cities that can boast such iconic views and mix of property types. Those looking to rent now will get the pick of the property and at a good price. It’s inevitable that as we get closer to 2012, rental prices will rise as competition for the best properties heats up.”