Gentrification Flashcards
What (2) - G
Buying and renovating properties by wealthier people in rundown areas
Different to redevelopment schemes = by individual not organisation
Causes (4) - G
The rent gap
Support from government
Changing composition of households
The pioneer image
What is the rent gap (2) - G
Property has fallen below its real value = lack of investment
The gap between actual and potential price = attractive to renovators
Support from gov - G
They’re keen to improve the economy + environment of inner city
Changing composition of households - G
Less families so more inner city living
The pioneer image (2) - G
Trend of creative individuals moving to more edgy vibrant neighbourhoods
SoHo
Good (4) - G
Local tax income increases
Employment opportunities - interior design, construction, refurbishment
Rise in general prosperity
Growth of businesses and services
Bad (2) - G
Low income can’t afford higher property prices
Increased cars ownership = congestion
Critics - G (2)
Contributes to social and ethnic segregation
Cost of living increases which displaces original inhabitants
Case study - Leeds - Hyde park (3) - G
North west = Hyde park = heart of student community
Zoopla = house prices increased by 26% in last 5 years and 36% in last 10 years
66.6% private rented properties = landlords buying them and converting them to student accommodation
Case study Leeds - Victoria gate (3) - G
John Lewis redevelopment in Victoria gate
Gentrification of Mabgate = rental prices increasing by 40%
Forced residents out
Rio (4) - G
Vidigal = favela
Previously dominated by drug gangs
Value of land increased by 3-fold in 3 years = people bought properties
Pacified
Rio - benefits from WC + O (3) - G
Rooms could be rented for much higher
Shops benefited from business
People sold homes + bought big properties elsewhere
