What is the process of gentrification?
1 )
Wealthy families move into suburban areas leading to a significant influx of new services. This attracts more wealthy families and the areas become even more expensive to live in.
More affluent individuals and developers see the opportunity to buy property in a previously run-down area, usually in the inner city. As more people do this, the area gradually changes.
3 )
Young affluent professionals move into villages surrounding cities. They often work from home with the main place of work being in a large city. The village character changes as a result of the influx.
4 )
As a result of government initiatives, inner city areas see considerable improvements in the housing stock and provision of services. Training schemes and job creation schemes lead to increased affluence.
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