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Paper eres2004_186:
From urban chic to student units. Aucklandís Inner City Residential Apartment Boom 1990-2003

id eres2004_186
authors Murphy, Laurence
year 2004
title From urban chic to student units. Aucklandís Inner City Residential Apartment Boom 1990-2003
source 11th European Real Estate Society Conference (2-5 June 2004) Milano, Italy
summary Since the early 1990s Aucklandís Central Business District (CBD) has experienced an unprecedented growth in its residential apartment market. This growth is demonstrated in both the number of units developed (more than 7,000) and the increasing scale of individual apartment developments. Aucklandís inner-city apartment boom mirrors property trends occurring in other cities around the world. These trends are at the forefront of what Ley (1996) terms Ďthe remaking of the central cityí and include processes of Ďgentrificationí and urban regeneration. At first glance it would seem that Aucklandís apartment boom represents both a material and symbolic expression of a set of globalising processes of urban revitalisation. Yet, following Gibbs and Hoseliís (2003) recent call for greater attention to be given to local and spatial dimensions of property processes, this paper addresses the dynamics of the apartment boom and highlights the specificity of local market conditions. In order to examine the nature and character of processes operating in the apartment market, data were purchased from Quotable Value on individual apartment sales for the period 1990-2000. The resultant dataset provides information on 6,128 apartment sales with a cumulative gross sale value in excess of NZ$ 1billion. What follows is a preliminary analysis of the dataset and the findings should be treated as work in progress.
series ERES:conference
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session Comparative Urban Housing Markets
last changed 2008/12/21 10:41
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