Estate agents in Hampstead and Highgate have been inundated with homeowners looking to rent out their home during the olympic games.

According to one negotiator, home owners are expecting at least a 40 to 50 per cent increase on top of normal short-term let prices.

Website rentduringthegames.com is advertising over 6,000 properties available during the games. A one bedroom flat in Hampstead, which according to its listing sleeps four is advertised for £3,500 per week. 

It was recently reported that footballer Sol Campbell was also taking advantage of the Olympic "gold rush" by renting his Chelsea home out for £75,000 per week during the games, five times the market value.

Renting homes out during sporting events is not a new phenomenon; each year home owners in Wimbledon let out their homes to tennis stars competing in the tournament. However the Olympic market is something home owners across London are taking advantage of.