Private rental investment and socio-spatial disadvantage in Sydney, Australia

van den Nouwelant, R; Pawson, H; Hulse, K; Reynolds, M; Martin, C; Randolph, B; Herath, S

Private rental investment and socio-spatial disadvantage in Sydney, Australia

van den Nouwelant, R Pawson, H Hulse, K Reynolds, M Martin, C Randolph, B Herath, S

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Publisher:: WILEY
Publication Type:: Journal Article
Citation:: Geographical Research, 2023, 61, (3), pp. 349-361
Issue Date:: 2023-08-01

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Field	Value	Language
dc.contributor.author	van den Nouwelant, R
dc.contributor.author	Pawson, H
dc.contributor.author	Hulse, K
dc.contributor.author	Reynolds, M
dc.contributor.author	Martin, C
dc.contributor.author	Randolph, B
dc.contributor.author	Herath, S https://orcid.org/0000-0002-7958-3274
dc.date.accessioned	2024-01-23T23:28:52Z
dc.date.available	2024-01-23T23:28:52Z
dc.date.issued	2023-08-01
dc.identifier.citation	Geographical Research, 2023, 61, (3), pp. 349-361
dc.identifier.issn	1745-5863
dc.identifier.issn	1745-5871
dc.identifier.uri	http://hdl.handle.net/10453/174891
dc.description.abstract	This article unpacks the connection between a growing cohort of small-scale but purposive property investors and urban socio-spatial restructuring. We analyse private rental housing as a tenure share to demonstrate its spatial correlation with the suburbanisation of socio-economic disadvantage in Sydney, Australia, between 1991 and 2016. Then, we show how investors drive this emerging pattern by reference to the geography of property owners’ stated investment objectives—low capital outlay, rental yields, and capital growth prospects. We contend that the link between their small-scale activities and the city’s changing socio-spatial structure is an overlooked consequence of private rental sector (PRS) housing financialisation. Importantly, our focus on behaviours exhibited by small-scale rental property owners in PRS financialisation transcends existing analyses that have concentrated on corporate entity activity in this space. That focus also contrasts with framings of private rental growth as a residual outcome of developments elsewhere in the housing market. Such work is significant because it demonstrates the impacts of real estate investment on urban form.
dc.language	English
dc.publisher	WILEY
dc.relation.ispartof	Geographical Research
dc.relation.isbasedon	10.1111/1745-5871.12591
dc.rights	info:eu-repo/semantics/openAccess
dc.subject.classification	Geography
dc.title	Private rental investment and socio-spatial disadvantage in Sydney, Australia
dc.type	Journal Article
utslib.citation.volume	61
pubs.organisational-group	University of Technology Sydney
pubs.organisational-group	University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	open_access	*
dc.date.updated	2024-01-23T23:28:49Z
pubs.issue	3
pubs.publication-status	Published
pubs.volume	61
utslib.citation.issue	3

Abstract:

This article unpacks the connection between a growing cohort of small-scale but purposive property investors and urban socio-spatial restructuring. We analyse private rental housing as a tenure share to demonstrate its spatial correlation with the suburbanisation of socio-economic disadvantage in Sydney, Australia, between 1991 and 2016. Then, we show how investors drive this emerging pattern by reference to the geography of property owners’ stated investment objectives—low capital outlay, rental yields, and capital growth prospects. We contend that the link between their small-scale activities and the city’s changing socio-spatial structure is an overlooked consequence of private rental sector (PRS) housing financialisation. Importantly, our focus on behaviours exhibited by small-scale rental property owners in PRS financialisation transcends existing analyses that have concentrated on corporate entity activity in this space. That focus also contrasts with framings of private rental growth as a residual outcome of developments elsewhere in the housing market. Such work is significant because it demonstrates the impacts of real estate investment on urban form.

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http://hdl.handle.net/10453/174891