London Rental Prices During the Olympics Are Soaring

Olympic rental prices are rocketing in Wanstead and Woodford, with one house to be let for £26,000.

A South Woodford estate agent told the Guardian that a nearby home will be rented for £26,000 by a Danish television company covering the Games this summer.

And residents offering their property to renters for the Olympics or Paralympics can expect to earn four times as much as at any other time of the year as east London cashes in on the once-in-a-lifetime event.

Elsewhere, a seven-bedroom house in Thyme Avenue, Wanstead, has an asking price of £10,000.

Homes across Wanstead, South Woodford and Woodford Green are being advertised for a combined £53,000, excluding the home to be rented by the Danish television producers.

However, he sounded a warning over a potential pitfall of renting a house out for the Games.

“The tenants probably don't have any background renting in the UK. It means they might not look after the property as much but people will weigh that up against the money they could earn.”

Ex-England footballer Sol Campbell will let his central London pad for £75,000 a week during the Olympics as tourists from more than 200 countries flock to the capital.