Olympic goldmine for London homeowners

Homeowners in London are already signing their properties up with lettings agencies in the hope of making a killing from short-term rents during the 2012 Olympics.

Officials, coaches and sports journalists are already registering accommodation enquiries with agents.

The most sought-after locations are those close to the main Olympic Park site itself in Stratford, east London, and the “river zone” in Greenwich, south east of the capital, which is close to the gymnastics and basketball arenas and the equestrian venue in Greenwich Park.

Matt Parker, owner of website Londonrentmyhouse.com, said his site had already received an enquiry from a French radio station looking for accommodation for 15 journalists who will be covering the games.

According to letting agents, two-bed flats close to the Olympic venues could pull in up to £2,000 a week, while 5-bed homes with good transport links could be let for up to £5,000 a week.

Andrew Buonocore, founder of the Olympicletting.com website, said many owners were hoping to double normal rates but added that 60%  to 70% premiums were probably more realistic