Lee, JK;
(2013)
Mega-Retail-Led Regeneration and Housing Price.
disP - The Planning Review
, 49
(2)
75 - 85.
10.1080/02513625.2013.827510.
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Abstract
With the ongoing shift in the dynamics of retail development toward inner-city sites, mega-retail-led regeneration schemes have emerged as an important strategy for place marketing in the entrepreneurial city of London. While a number of studies have attempted to examine the effects of these schemes, the focus of previous studies has been limited to their wider economic and environmental effects. However, few studies have empirically investigated their impact on surrounding neighborhoods, particularly deprived neighborhoods. This paper investigates the effects of the Westfield London Shopping Centre on changes in housing price levels in the surrounding neighborhood of White City/Shepherd's Bush, in order to determine whether mega-retail-led regeneration schemes are a key determinant in the process of gentrification. A difference-in-differences analysis was used to assess differentials in the change rates of housing prices between control and treatment groups following the development of Westfield London. It was found that Westfield London development caused an increase in the change rate of housing prices of the treatment group relative to that of the control group. These findings indicate that mega-retail-led regeneration schemes may be a main cause of the pricing out of neighborhood residents who cannot afford the resulting increased rents and for altering the characteristics of neighborhoods and their social networks.
| Type: | Article |
|---|---|
| Title: | Mega-Retail-Led Regeneration and Housing Price |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1080/02513625.2013.827510 |
| Publisher version: | http://dx.doi.org/10.1080/02513625.2013.827510 |
| Language: | English |
| Additional information: | © 2013 The Author(s). Published by Taylor & Francis This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/3.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. The moral rights of the named author(s) have been asserted. Permission is granted subject to the terms of the License under which the work was published. Please check the License conditions for the work which you wish to reuse. Full and appropriate attribution must be given. This permission does not cover any third party copyrighted material which may appear in the work requested. |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment |
| URI: | https://discovery.ucl.ac.uk/id/eprint/1461161 |
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