Big Up East London

BC has shared plenty of stats about the Great Inversion, that's taking place in London, shifting prosperity and economic activity from outer to inner London. But as we mentioned, there are actually two great inversions taking place, as London begins to flip on its axis, from West to East.

An interactive map, released recently by the ONS, shows that shift in action. It allows you to chart the change in the relative economic performance of a region, using Gross Value Added as its key metric. In just 15 years (1997-2012) the change for Inner East London (including South East London) was dramatic.

The green bar on the right hand side is the most important thing to look at. The closer it is to the Y axis, the better the per capita GVA of the region, relative to the rest of the UK. Even in 1997, East London was no slouch, but by 2012, it had become one of the most productive parts of the country. Of course, in part, this reflects the growing dominance of London in the UK economy, but while Inner West London retained its dominant position, no other London region enjoyed a comparable shift.
The winning scheme for the Royal Docks
The sheer scale of development taking place along the riverside and docklands from Tower Bridge to North and south Woolwich provides plenty of physical evidence of the shift too. Recent announcements about Wood Wharf, the Royal Docks and Greenwich Peninsula show how much further this trend has to go. The future is ours. Soon(ish), you will be able to insist that your friends come East if they want to see you. And they can travel on the Bakerloo line.
Proposed new homes on the Greenwich Peninsula
Wood Wharf will extend Canary Wharf eastwards

17 comments:

Diss Gruntled said...

There is no inversion. Outer London is not suddenly becoming poorer as inner London prospers. The large displaced working class communities of East London haven't all moved to the west side, either.


What's happening is a gradual erosion of London's heritage, by way of gentrification. House prices are being artificially inflated by estate agents, seeking to capitalise on the deep pockets of the new bourgeoisie flocking to London in their droves. Businesses are closing down and being replaced with artisan bakeries and gastropubs, while the things most real Londoners need are being taken away one by one.


Hackney, Peckham and Brixton have become too expensive for most of their residents to remain there, and are slowly being overrun with yuppies and media professionals. And that's just the tip of the iceberg. Brockley's already fucked, too.

Brockley Nick said...

"There is no inversion. Outer London is not suddenly becoming poorer as inner London prospers."


Yes there is. Check the article linked to. Outer London is getting gradually less prosperous (relatively speaking) and jobs are becoming more concentrated in the middle of the city.


"What's happening is a gradual erosion of London's heritage, by way of gentrification." Nonsense. There is no single "heritage". Areas are in constant flux.


"House prices are being artificially inflated by estate agents, seeking to capitalise on the deep pockets of the new bourgeoisie flocking to London in their droves."


Wow, they're a fiendishly clever and sophisticated bunch, those estate agents. Funny, the ones I've met tend to look like it's their first job and they don't know how to wear a suit.


"Businesses are closing down and being replaced with artisan bakeries and gastropubs, while the things most real Londoners need are being taken away one by one."


Bit vague this one, but there's no evidence of that around here, where new stuff has been additive. Restaurants on disused rooftops, markets in quiet car parks, delis taking over deserted units, new swimming pools and libraries.


"Hackney, Peckham and Brixton have become too expensive for most of their residents to remain there, and are slowly being overrun with yuppies and media professionals."


You mean poor enclaves have become mixed communities, with lower crime and better schools?


"Brockley's already fucked, too."


Yes, nightmare. All these bloody community garden projects springing up everywhere.

Diss Gruntled said...

I suppose you must live on a different planet to mine, or perhaps you're just incapable of independent critical thought.


Congratulations on your 'just barely adequate' toeing of the party line, though.

Brockley Nick said...

I've no idea what party line you think I am toeing, but I'm basing my opinions on data and independent analysis, rather than whatever dark thoughts you ruminate on while drinking alone.

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highhopes said...

Rather than estate agents, it is the lack of a coherent house building policy over the past couple of decades that has led to a great shortage of decent properties.

As I recollect the development of the docklands of the London Docklands in East London was the vision of Michael Heseltine, who also froze local housing development budgets and introduced the right to buy council houses. The idea was the private sector should have been able to build enough property to meet the demand, but that bit seems to have gone wrong.

I am hoping one of the political parties might come up with a housing policy worth voting for come the next election.

Monkeyboy said...

People pay as little as they can or as much as they can afford (it's the same, the spin is different). You could equally blame the rapacious owners of the houses in SE4 for bleeding every last penny out of the newcomers who were priced out of Ealing. I bought mine from a plumber, I stretched myself to the hilt. He moved back to Spain. Who is exploiting who? As for shops, they are all commercial enterprises. None of them have a right to exist. There are loads of cheap takeaways because there is a demand, there are a few delis because there is a demand. By the way are you deciding what shops the salt of the earth dockers deserve? Why not let the people who live here choose where to shop.

Gruntled said...

It may be a minor sadness that you evidently wish people to remain as poor in material terms as you seem to be in intellect, but not many are likely to be bothered by it.

Damian said...

Boring boring same old moan. I'm not from London. I'm new to the area and have bought. I like coffee at Browns. By your comment and many others I read on here me and anyone like me are some sort of scourge for 'real Londoners'. Actually I'm just a plumber from the midlands who's moved here as there's plenty of work. Tired of reading comments that seem to demonise anyone who's ever moved somewhere new

Gio said...

Christ, you are so naive

Headhunter said...

I don't really understand the argument that Brockley and other areas in London are somehow going through some monumental shift in population and that the traditional populations of these areas have somehow been displaced after generations.... Brockley for example wasn't even built up until the end of the 19th century and when it was built up the large villas in the conservation area weren't for your average, downtrodden working class Victorian to live in, they were built for the extremely wealthy classes... It's only been relatively recently that they've been split into flats and populated by the less well off. If property prices are rising and people with more disposable income are moving in then perhaps we're seeing a return to Brockley's "heritage"....

Brockley Nick said...

Who and why please?

bishbashbosh said...

Wassup? You want to build on a garden to make a fast buck and move out. But the neighbours keep objecting? Damn those NIMBYs types!

Newby said...

I was thinking more of the NIMBYs in the Green Belt but you raise an interesting point. Why should my family have a big garden when it could be used to house several families?

Ollie said...

I wouldn't let these kind of moaners put you off - I'm from West London originally, moved to Brockley in 2004 and am probably aren't considered 'real Brockley' either by fools like Diss Gruntled.

Human beings often move around to where the work is. He needs to deal with it!

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East London Guide said...

The best part of east London is Romford. It has more shops than any other part of east London, 2 cinemas (cos they're fighting it out the prices stay down, there ain't many places in London that you can watch the latest films for £4), loadsa eateries, good transport links, award winning parks, an improving crime rate, free parking on Sundays, a museum, Romford Market, & of course the lovely locals who are generally quite friendly.

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