Albury-Wodonga was designated a ‘national growth centre’ in 1974. Whereas the metropolitan centres, most notably Sydney and Melbourne, have been subject to capital centralisation, deindustrialisation, and the shift to a ‘service economy’, Albury-Wodonga has been a recipient centre for capital decentralisation and for industrial growth, with dependent links to the dominant economies of Sydney and, principally, Melbourne. In this paper, housing market behaviour, especially the increasing differentiations in urban ground rent between spatially defined submarkets, in Albury-Wodonga, Melbourne, and Sydney is explored. These phenomena are linked to processes of capital restructuring both nationally and globally, and to shifts in urban planning practice.
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