Owner-Driven Suburban Renewal: Motivations, Risks and Strategies in 'Knockdown and Rebuild' Processes in Sydney, Australia
Ilan Wiesel,
Robert Freestone and
Bill Randolph
Housing Studies, 2013, vol. 28, issue 5, 701-719
Abstract:
Decisions by individual owners about reinvesting capital in their homes are important drivers of wider processes of suburban renewal. This paper examines the motivations for owners in mostly middle-ring suburbs of Sydney, Australia, to reinvest through 'knockdown and rebuild' (KDR). This process-not unique to Australia-involves the wholesale demolition of older detached houses and their replacement with completely new dwellings. Until recently, existing literature on housing reinvestment has focused on practices such as renovations or modifications to existing dwellings. Yet, KDR is becoming increasingly popular and moreover appears to involve a distinctive set of actors, drivers and potential impacts. On the basis of a statistical survey of activity followed up by a questionnaire survey and in-depth interviews, the general scale and attributes of KDR are summarised and then explored to discern the main perceived benefits, risks and types of development scenarios pursued. The results reveal a genuine diversity of motivations and circumstances involved in this latest physical makeover of the traditional Australian suburb.
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:taf:chosxx:v:28:y:2013:i:5:p:701-719
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DOI: 10.1080/02673037.2013.758243
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