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.
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| 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.
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| Proposed new homes on the Greenwich Peninsula |
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| Wood Wharf will extend Canary Wharf eastwards |
