Southwark (Parliament Politics Magazine) – Camberwell Green has seen the most rapid gentrification in Southwark over the past decade, placing in London’s top ten, new Trust for London data shows.
Camberwell Green, along with six other Southwark neighborhoods, is ranked sixth out of just 13 South London neighborhoods that have experienced the fastest rate of gentrification in the past ten years, according to a new study.
Every neighborhood in Southwark is located in the borough’s center, which includes Camberwell, parts of South Bermondsey, and the streets of Peckham.
Notable locations on the list outside of Southwark include Woolwich, Plumstead, and Penge.
The study identifies the districts of London that have had the most influx of wealthy people, which were formerly inhabited by lower-income households before 2012.
It clearly shows which areas of the city are seeing a displacement of working-class communities due to growing real estate prices.
There are three Labour councillors, including Kieron Williams, the leader of the Southwark Council, in the 15,500-person electoral ward of Camberwell Green.
It extends from Daneville Road and Coldharbour Lane in the south to John Ruskin Street in the north. It includes Camberwell Green in the east, and Denmark Road and Southampton Way in the west.
According to the Trust for London charity’s report, the most drastic shifts in average salaries occurred in the East End, Southwark, Brent, and Haringey between 2012 and 2020.
After accounting for inflation, average salaries in the 53 council ward areas that were identified in the study increased by 11% on average, whereas the rest of London witnessed a 1% gain.
The biggest increases in income were observed in Bethnal Green South (27%), Aldgate (29%), and Spitalfields (45%), where inhabitants’ salaries increased. All three are located in Tower Hamlets, which has 12 of the 53 neighbourhoods and was deemed the most gentrified borough.
Bruce Grove North (21 percent) and Woodberry Down and Manor House (22 percent) also had significant increases in average income.
The adjacent ward of Loughborough Road, which stretches down Coldharbour Lane past the train station and into Brixton, which is located within the nearby London Borough of Lambeth, comes in at number 17, but Southwark and Camberwell Green ward are far up the list at number 6.
Peckham North West is ranked number 22, and Peckham North Ward is ranked number 20. Out of the 53 neighbourhoods on the report, Burgess Park Ward is ranked number 26, Peckham Park Road is ranked number 36, and South Bermondsey East is ranked number 51.
The adjacent ward of Loughborough Road, which stretches down Coldharbour Lane past the train station and into Brixton, which is located within the nearby London Borough of Lambeth, comes in at number 17, but Southwark and Camberwell Green ward are far up the list at number 6.
Peckham North West is ranked number 22, and Peckham North Ward is ranked number 20. Out of the 53 neighbourhoods on the report, Burgess Park Ward is ranked number 26, Peckham Park Road is ranked number 36, and South Bermondsey East is ranked number 51.
This area cutter makes it evident that the Southwark’s central district has had the fastest rate of gentrification over the past ten years. The investigation was limited to regions that had average incomes in the bottom 20% of London in 2012. The 53 designated neighborhoods do not include many of the places in the lowest 20% since they have not undergone as much gentrification.
The Trust defined gentrification as “the influx of more affluent residents in lower income areas, relative to the residents that were already there, and the displacement of the previous population” in their study, which was created in collaboration with the WPI Economics consultancy.
Although London’s black population stayed virtually unchanged between 2012 and 2020, the data revealed a “remarkable” drop of nearly two percentage points in the proportion of black residents in the 53 gentrified areas.
According to the study, this corresponds to “about 10,000 Black Londoners that we would see living in these 53 neighbourhoods if the proportion had stayed the same.”
Despite the fact that the white population in the gentrified regions decreased by more than 4%, this was still less than the 6% decline in the rest of London.
Additionally, the percentage of childless couples increased (by an average of over two percent) in the 53 gentrified neighborhoods.
One of the main dangers of gentrification, according to the report, is that it makes London so costly that families can no longer afford to raise their children here.
The decrease in primary school applications in the capital, especially in inner London, and the recently announced closing of the maternity facility at the Royal Free Hospital in north London are further indications of this trend.
While new construction around Camberwell Green has changed the area’s appearance, old pubs and bars have been renovated or converted into gastropubs.
Over the past ten years, the demographics of the region have changed significantly, raising concerns among longtime residents about the displacement of minority and working-class populations.
In gentrified neighborhoods like Camberwell, the quantity of socially rented houses has decreased, which has reduced the supply of reasonably priced housing options for families with lower incomes.
In a similar vein, the study found that the average number of households residing in socially rented dwellings in the 53 gentrified neighborhoods had decreased by almost 5%, which was far higher than the 1% decline observed in the rest of London.
The number of people in managerial roles increased in the gentrified neighborhoods as well.
Manny Hothi, the Trust’s chief executive said:
“This research points to something that many Londoners have suspected for years – the city is becoming increasingly unaffordable for low-income families. We’re witnessing families and long-standing communities being priced out on a scale we haven’t seen before.
London’s diverse blend of communities is what makes it one of the best cities in the world. But the current trend shows the city is at a tipping point, at risk of being a homogenous place where only people above a certain income bracket can afford to be.
If we want London to be a city where people from all backgrounds, of all ages, can live and thrive, urgent action is needed to address the affordability crisis.”
Guy Weir, head of data insights at WPI Economics, added:
“Getting under the skin of local area data is key to understanding what’s happening beneath the headlines.
As this analysis shows, several London neighbourhoods changed dramatically between 2012 and 2020, with the available data pointing towards a displacement of those on lower incomes.
While the overall poverty rate has declined across the capital, analysis like this highlights that beneath the surface, communities across the city are struggling to afford to live in London.”
What are the reasons for rapid Gentrification in Camberwell Green?
Camberwell Green benefits from being close to gentrified neighborhoods like Vauxhall, Elephant & Castle, and Brixton. It is now a desirable alternative for purchasers priced out of these regions due to improved transportation connections, such as the Denmark Hill overground station.
Redevelopment efforts in the region have received significant funding, including Lambeth Council’s £11 million enhancement plan. The area’s appeal will be increased by these developments, which include improvements to Myatt’s Fields Park, a chef school, and a new public library.
Camberwell is a popular place to invest because of the sharp increase in property values brought on by increased demand. Interest has also been stoked by predictions of additional transportation upgrades, such as the possible extension of the Bakerloo Line.