Abstract
The paper advances the conceptualisation of neighbourhood by specifying it as a bundle of spatially based attributes associated with clusters of residences, sometimes in conjunction with other land uses. There follows a discussion of how this 'composite commodity' definition relates to the planning challenge of spatially bounding neighbourhood. The paper then probes the myriad idiosyncrasies associated with the concept of neighbourhood: cross-attribute variation in durability and ability to be priced, relativistic evaluations of attributes and consumption impacts on attributes. It discusses how, within this new paradigmatic context, neighbourhoods are produced by the same actors that consume them: households, property owners, business people and local government. Finally, consideration is given to various aspects of the origins and nature of neighbourhood change and it is argued that neighbourhood dynamics are rife with social inefficiencies.

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