Gentrification

[AtW]

London's elite 'pushed out of exclusive postcodes by super rich'

London’s traditional elite, such as lawyers, architects and academics, are being pushed out of their enclaves in Mayfair, Chelsea and Hampstead by an influx of global super rich investors, causing a chain reaction of gentrification across the capital, according to research by the London School of Economics.

An influx of extremely wealthy overseas buyers is leading the old elite to sell up and move from London’s most exclusive postcodes and buy in areas they previously considered undesirable, said Dr Luna Glucksberg, of the LSE’s International Inequalities Institute.

This displacement of old money and affluent middle class professionals is in turn pricing neighbourhoods in south and east London out of the reach of average Londoners and threatening to push those on low incomes to the margins of the city and beyond, she added.

“The changes happening at the top end of the market are real, and although they do not affect large numbers of people directly, the ripple effects they generate do resonate across London,” Glucksberg said.

https://www.theguardian.com/uk-news/...-by-super-rich

[Old Greg]

London's elite 'pushed out of exclusive postcodes by super rich'

London’s traditional elite, such as lawyers, architects and academics, are being pushed out of their enclaves in Mayfair, Chelsea and Hampstead by an influx of global super rich investors, causing a chain reaction of gentrification across the capital, according to research by the London School of Economics.

An influx of extremely wealthy overseas buyers is leading the old elite to sell up and move from London’s most exclusive postcodes and buy in areas they previously considered undesirable, said Dr Luna Glucksberg, of the LSE’s International Inequalities Institute.

This displacement of old money and affluent middle class professionals is in turn pricing neighbourhoods in south and east London out of the reach of average Londoners and threatening to push those on low incomes to the margins of the city and beyond, she added.

“The changes happening at the top end of the market are real, and although they do not affect large numbers of people directly, the ripple effects they generate do resonate across London,” Glucksberg said.

https://www.theguardian.com/uk-news/...-by-super-rich

Let me know when they're reduced to living above a Birmingham kebab joint.

[BrilloPad]

WE should have a whip round for them.

[ChimpMaster]

<snip> threatening to push those on low incomes to the margins of the city and beyond, she added.

I just don't understand why the poor live in - or try to live in - London.

[BrilloPad]

I just don't understand why the poor live in - or try to live in - London.

Some people feel the need to work. Even though the system is stacked against them.

[sasguru]

London is completing its transformation into a City state that bears no relationship to its hinterland, a bit like HK or Singapore. It's better educated, more diverse and much richer than the country as a whole and produces a third of the UK's output. That kind of disconnect hasn't happened anywhere else in Europe to such a degree.
A little unhealthy if you ask me.

[jamesbrown]

Architects and academics are the traditional elite?

Pre-1970s, perhaps.

[The_Equalizer]

London is completing its transformation into a City state that bears no relationship to its hinterland, a bit like HK or Singapore. It's better educated, more diverse and much richer than the country as a whole and produces a third of the UK's output. That kind of disconnect hasn't happened anywhere else in Europe to such a degree.
A little unhealthy if you ask me.

Other parts of the UK (and the rest of the World for that matter) act as a tributaries for London in the talent stakes.

[milanbenes]

London is completing its transformation into a City state that bears no relationship to its hinterland, a bit like HK or Singapore. It's better educated, more diverse and much richer than the country as a whole and produces a third of the UK's output. That kind of disconnect hasn't happened anywhere else in Europe to such a degree.
A little unhealthy if you ask me.

It's great for visiting though

We've stayed as a family at the Travel-Lodge in Covent Garden a couple of times in the last couple of years, and spent a night or two in the center of the smoke

London really is a city to marvel at, this time, in August we checked into the Travel-Lodge and then walked to the Eye where we had the flexible pre booked ticket with speedy boarding, the London sky line is awesome and the rest of Europe has a lot of catching up to do in terms of creating mega cities, you're right London is like KL and these other mega cities, it is it's own state

Walking around the center of London is a pleasure, so much to see, so clean and tidy, as you all know you can comfortably walk from Covent Garden to Harrods and check out Big Ben, Parliament and Buckingham Palace on the way and then come back to Horse Guards, Trafalgar Square and up to Piccadilly Circus, up Regent Street, nip into Hamleys, and then through Soho and back to China Town for an evening meal.

On the trip before last my youngest daughter, very keen eyed found a 50pound note on Charring Cross Road.

The museums are world class, Natural History Museum etc, to be honest I found the science museum a let down, it's gone all interactive and either there's a queue for the "attractions" or they don't work, I preferred it when it was five floors of exhibits.

Something really funny happened on this trip, coming out of our evening meal in China Town we heard loads of noise of engines being revved up, we walked in the direction of the sounds, down to Piccadilly Circus, and what did we see, the Arabs cruising in their super cars and revving the engines at each set of traffic lights, Lambo's, Ferrari's, Maserati's etc queued up and revving their engines - where I am from it was Fiesta's on a smaller scale

I wouldn't like to live in Laaaaaaaaaandan though

Milan.

p.s. Travel Lodge in Covent Garden has a fantastic breakfast ! And fair prices

[NotAllThere]

...An influx of extremely wealthy overseas buyers is leading the old elite to sell up and move...

Bloody immigrants. Coming here, taking away our housing...