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Rental property investment in disadvantaged areas: the means and motivations of Western Sydney’s new landlords

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  • Hal Pawson
  • Chris Martin

Abstract

For more than two decades, Australia’s private rental sector (PRS) has seen rapid growth, as latterly replicated in most other anglophone nations. Commentary and scholarly attention have generally focused on the population occupying this growing sector – so-called ‘generation rent’. The corollary, ‘generation landlord’, has meanwhile remained largely obscure. This article argues that the emerging literature on the ‘financialization of housing’ offers insights into the ongoing rise of investor landlords. Our analysis also contributes to the picture of financialized rental property investment; here drawing on a survey of investor landlords and their properties in an Australian PRS growth centre: disadvantaged suburbs in western Sydney. Most investors lived elsewhere; the attractions of western Sydney property acquisition being the expectation of unusually large capital gains, the prospect of amassing multiple properties and the local scope for intensified asset utilization. Referencing existing research evidence, this suggests that, even by comparison with the 2000s, a more professional, financialized investor mindset is emerging.

Suggested Citation

  • Hal Pawson & Chris Martin, 2021. "Rental property investment in disadvantaged areas: the means and motivations of Western Sydney’s new landlords," Housing Studies, Taylor & Francis Journals, vol. 36(5), pages 621-643, May.
  • Handle: RePEc:taf:chosxx:v:36:y:2021:i:5:p:621-643
    DOI: 10.1080/02673037.2019.1709806
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    Cited by:

    1. Mădălina Mezaroş & Antoine Paccoud, 2024. "Accelerating housing inequality: property investors and the changing structure of property ownership in Luxembourg," International Journal of Housing Policy, Taylor & Francis Journals, vol. 24(1), pages 23-43, January.
    2. Lu Wang & Rose Gilroy, 2021. "The Role of Housing in Facilitating Middle-Class Family Practices in China: A Case Study of Tianjin," Sustainability, MDPI, vol. 13(23), pages 1-11, November.
    3. Martin, Chris & Lawson, Julie & Milligan, Vivienne & Hartley, Chris & Pawson, Hal & Dodson, Jago, 2023. "Towards an Australian Housing and Homelessness Strategy: understanding national approaches in contemporary policy," SocArXiv h5tja, Center for Open Science.
    4. Troy, Laurence & Wolifson, Peta & Buckley, Amma & Buckle, Caitlin & Adkins, Lisa & Bryant, Gareth & Konings, Martijn, 2023. "Pathways to home ownership in an age of uncertainty," SocArXiv vstm4, Center for Open Science.

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