Adelaide's Heart Transplant 1970–88: 1. Creation, Transfer, and Capture of ‘Value’ within the Built Environment
- 1 February 1992
- journal article
- Published by SAGE Publications in Environment and Planning A: Economy and Space
- Vol. 24 (2), 215-241
- https://doi.org/10.1068/a240215
Abstract
The circulation of capital within the built environment, as first formalised by Harvey in 1978, is treated empirically via an analysis of residential capital formation and the transfer of value within the Adelaide Metropolitan Area, in the period 1970–88. Operational concepts of value ‘creation’, ‘transfer’, and ‘capture’ are defined before estimates of housing investment and its redistribution through the medium of the urban property market are derived. These are imputed for eight subregions of Adelaide. It is suggested that the chief beneficiaries from the ‘capture’ of value during the past two decades have been the Inner Adelaide suburbs and homeowners; hence the implication of Adelaide's ‘heart transplant’. Harvey's ‘framework for analysis’ and more particularly his account of the timing and patterning of (dis)investment within the built environment are then evaluated in light of Adelaide's experience between 1970 and 1988. It is decided that urban investment trends and patterns cannot be properly understood without giving much greater deference to fiscal and monetary policy together with the state's urban development programme than Harvey is prepared to in his analysis.Keywords
This publication has 21 references indexed in Scilit:
- Adelaide's Heart Transplant, 1970–88: 2. The ‘Transfer’ of Value within the Housing MarketEnvironment and Planning A: Economy and Space, 1992
- The role of housing expenditure in state development: South Australia, 1936–88International Journal of Urban and Regional Research, 1989
- The Impact of Homeownership and Capital Gains upon Class and Consumption SectorsEnvironment and Planning D: Society and Space, 1989
- An Australian View of the Rent Gap HypothesisAnnals of the American Association of Geographers, 1989
- Differential Accumulation: wealth, inheritance and housing policy reconsideredPolicy & Politics, 1989
- Movements of capital and the built Environment: a research noteUrban Policy and Research, 1987
- Intra‐urban changes in housing prices: Glasgow 1972–83Housing Studies, 1987
- The Built Environment and the Urban QuestionEnvironment and Planning D: Society and Space, 1986
- Removing the spatial bias from state housing provision in Australian citiesPolitical Geography Quarterly, 1982
- The urban process under capitalism: a framework for analysisInternational Journal of Urban and Regional Research, 1978