Professional gamblers and rash speculators: A summary of the dynamics of the housing market in Brisbane's West End

Huston, Simon (2005) Professional gamblers and rash speculators: A summary of the dynamics of the housing market in Brisbane's West End. Journal of Property Tax Assessment & Administration, 2 2: 23-29.

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Author Huston, Simon
Title Professional gamblers and rash speculators: A summary of the dynamics of the housing market in Brisbane's West End
Journal name Journal of Property Tax Assessment & Administration   Check publisher's open access policy
ISSN 1357-1419
1548-3606
Publication date 2005
Sub-type Article (original research)
Open Access Status File (Author Post-print)
Volume 2
Issue 2
Start page 23
End page 29
Total pages 7
Editor Chris Bennett
Place of publication Chicago, IL, U.S.A.
Publisher International Association of Assessing Officers; International Property Tax Institute
Subject 370401 Urban and Regional Studies
CX
680101 Housing
1205 Urban and Regional Planning
310103 Urban and Regional Planning
Formatted abstract
It is now widely acknowledged that the property boom has more or less petered out in Australia. One area of interest in property markets is the interface between fundamental drivers of urban change and investment speculation. Increases in dwelling price are one feature of gentrification but the micro-spatial processes driving this outcome are less well studied. In particular, the role of different players in the evolution of residential housing market system is often neglected. In this paper, I dissect price changes in one inner-city setting in Brisbane, Australia and highlight two categories of market player. The real estate boom in West End proceeded in distinct phases, mediated by different agents. Announcements of public investment disbursements seeded the entry of "professional gamblers" into the investment fray while "rash speculators" hesitated until they had some evidence that premiums were being realised in the neighbourhood.
Keyword Micro-spatial
System agents
Professional gamblers
Rash speculators
Real estate
Housing market
House prices
Speculators
Inner city dwellings
Q-Index Code CX

 
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Created: Tue, 17 May 2005, 10:00:00 EST by Simon Hugh Cuthbert Huston on behalf of UQ Business School