The Perpetual Gentrification of Ponsonby: Triumph or Tradegy?
||Filippova, Olga; Michael Rehm, Laurence Murphy
||The Perpetual Gentrification of Ponsonby: Triumph or Tradegy?
||23rd Annual European Real Estate Society Conference in Regensburg, Germany
||The suburb of Ponsonby,in Auckland (New Zealand), has long been the subject of academic study and represents New Zealand’s most prominent instance of gentrification. In this paper we examine the trajectory of Ponsonby’s house prices, demographics and its socioeconomic characteristics from 1986 through 2014. Contrary to Latham (2003) who portrayed the suburb in the mid-1990s as an idyllic urban melting pot of all walks of life where gentrification has benefited and enriched the suburb, our analysis shows the suburb’s gentrification has continued unabated and is more homogenous than ever. For homeowners and investors who hold title to Ponsonby’s heritage homes, the astronomical house price appreciation is undoubtedly a triumph, but for the neighbourhood’s working class families that have been displaced through perpetual gentrification, the process is tragic.
Post discussion ...
||Housing Economics & Housing Policy
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