Economists have for some time spoken of a ‘great inversion’ of London, whereby property price hikes in inner London, often linked to gentrification, has made suburbia comparatively more affordable. These changes, marked in the five years since David Cameron became Prime Minister, could have a profound effect on how the general election result pans out in the city. This is especially the case given the ability of such changes to affect the social and demographic makeup of London, as people from poorer backgrounds, the young and ethnic minorities are more likely to be susceptible to price increases in the private rental market.
In some ways, this is nothing new, with John O’Farrell lamenting the loss of Labour Battersea in 1987, for the first time since the Great Depression, putting it down to the growth of ‘yuppie’ flats.
Broadly speaking, most of the property price increases since the last election are in seats that strongly favour the Conservatives already (Cities of London & Westminster, Chelsea & Fulham, and Kensington) or are so safe for Labour that an influx of more Conservative-leaning voters would take generations before it had a profound enough impact.
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