New research by the Trust for London has identified 53 London neighborhoods that have rapidly gentrified from 2012 to 2020, particularly focusing on areas in the East End, Southwark, Brent, and Haringey. Average incomes in these neighborhoods rose by 11 percent, contrasting sharply with the lower one percent increase across other London areas. Highlighted neighborhoods include Spitalfields, Aldgate, and Bethnal Green South, which saw substantial income jumps. Notably, the analysis reveals notable demographic shifts, with a significant decrease in the black population in these areas despite the overall static black population in London during the same period.
The analysis found that there was a remarkable decrease of almost two percentage points in the proportion of black people living in the 53 gentrified areas, equating to around 10,000 black Londoners who would have otherwise been present if demographic proportions had remained stable.
On average, the 53 council ward areas identified in the research saw average incomes increase by 11 percent, contrasting sharply with a one percent rise across the rest of London when adjusted for inflation.
The largest income jumps were particularly evident in Spitalfields with a 45 percent rise, as well as areas in Tower Hamlets, showcasing significant economic shifts in previously low-income neighborhoods.
Defined by the influx of affluent residents and the displacement of original populations, gentrification in London has led to a stark transformation in neighborhoods that were among the least affluent just a decade ago.
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