Regeneration vs. The Market: How Were House Prices in Barking Affected by Renewal Projects in the Area?

Shand, R. and Sloan, Luke ORCID: https://orcid.org/0000-0002-9458-9332 2012. Regeneration vs. The Market: How Were House Prices in Barking Affected by Renewal Projects in the Area? Social and Public Policy Review 6 (2) , pp. 18-29.

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Abstract

Two of New Labour’s main goals, in social and public policy terms, were extending sustainability and to increase housing stock. These aims were set out in Europe’s largest Brownfield regeneration project across the Thames Gateway, covering parts of London, Essex and Kent. The most expensive housing in the UK, in the South East of England, is situated in some areas covered by the Thames Gateway regeneration initiative, which placed at its core the goals of housing renewal (Thames Gateway Delivery Plan, 2007). This article examines the relationship between regeneration, sustainable communities and house prices in one area of the Thames Gateway (Barking). We begin by reviewing the key aims of increasing housing stock in Barking and outlining the complex interactions between the key stakeholders. Next, house price data from the borough is compared to the South East region and a commentary is given on why certain property types are more expensive in Barking. Particular attention is given to whether these discrepancies are a function of the regeneration initiative and who stands to gain from inflated prices. The paper concludes that typically it is first-time buyer property prices that are inflated suggesting that demand for housing in the borough may be originating from more transient populations, an observation that may be at odds with the sustainable communities’ agenda.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Social Sciences (Includes Criminology and Education)
Subjects:	H Social Sciences > HC Economic History and Conditions H Social Sciences > HT Communities. Classes. Races
Publisher:	University of Plymouth Press
ISSN:	1752-704X
Related URLs:	Publisher
Last Modified:	21 Oct 2022 09:16
URI:	https://orca.cardiff.ac.uk/id/eprint/35809

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