Regeneration: transforming London's landscape
Regeneration can significantly improve an area and the quality of life for its residents. It helps enhance public realm, connectivity and local amenities. Transforming an area into a more desirable place to live, regeneration increases the demand for homes. As a result, the price growth of residential properties in the area outperform the wider market.
Urban regeneration projects tend to be radical interventions, requiring substantial investment from both public and private sectors.
Regeneration includes the rejuvenation of existing areas, such as London’s Southbank, to the creation of completely new neighbourhoods, like the Olympic Park in Stratford.
In this research we have quantified the impact this type of development has on property prices within 750m of a regeneration zone.
We find that from the start of the regeneration, prices increase by 1.5% per annum over and above wider growth. However, this premium increases to 3.6% when the regeneration program has become established; the point of realisation.