Revisiting Structure and Agency: The Perception and Materialisation of Risk in Property Development and Investment

Abstract

This commentary revisits Patsy Healey and colleagues’ 1980s–1990s work on property development within the context of urban change, examining its relevance to contemporary property-led urban planning theory and research. The commentary furthers structure and agency debates by introducing an analytical framework to focus on actors’ risk perceptions and the materialisation of risk within the built environment. This approach aims to bridge diverse theoretical and disciplinary perspectives in contemporary urban research, integrating economic and non-economic depictions of the city. The article furthers Healey’s call for a robust framework to understand the character of property markets and urban change.