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1
Lu, Qiang (Steven), and Yupin Yang. "A longitudinal study of the impact of the Sydney Olympics on real estate markets." International Journal of Event and Festival Management 6, no. 1 (March 16, 2015): 4–17. http://dx.doi.org/10.1108/ijefm-02-2014-0007.
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Purpose – The purpose of this paper is to examine the impact of the Sydney 2000 Olympic Games on the residential real estate markets of the host city during the bidding, pre-Olympic and post-Olympic periods. Design/methodology/approach – This study uses a difference-in-differences model to analyze the transaction prices for all properties in New South Wales, Australia for the period from 1980 to 2007. Findings – The paper finds that the impact on real estate markets varies across different suburbs in the host city and over time. The real estate markets of host suburbs experience substantially higher growth during the bidding and pre-Olympic periods but not during the post-Olympic period. However, the property prices in non-host suburbs in the host city increase at a higher rate during the pre- and post-Olympic periods but not during the bidding period. Originality/value – This study offers insights into the long-term impact of the Olympic Games on host suburbs and non-host suburbs in the host city during different periods by analyzing a large longitudinal data set over a period of 27 years.
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Yang, Xihua, Qinggaozi Zhu, Mitch Tulau, Sally McInnes-Clarke, Liying Sun, and Xiaoping Zhang. "Near real-time monitoring of post-fire erosion after storm events: a case study in Warrumbungle National Park, Australia." International Journal of Wildland Fire 27, no. 6 (2018): 413. http://dx.doi.org/10.1071/wf18011.
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Wildfires in national parks can lead to severe damage to property and infrastructure, and adverse impacts on the environment. This is especially pronounced if wildfires are followed by intense storms, such as the fire in Warrumbungle National Park in New South Wales, Australia, in early 2013. The aims of this study were to develop and validate a methodology to predict erosion risk at near real-time after storm events, and to provide timely information for monitoring of the extent, magnitude and impact of hillslope erosion to assist park management. We integrated weather radar-based estimates of rainfall erosivity with the revised universal soil loss equation (RUSLE) and remote sensing to predict soil loss from individual storm events after the fire. Other RUSLE factors were estimated from high resolution digital elevation models (LS factor), satellite data (C factor) and recent digital soil maps (K factor). The accuracy was assessed against field measurements at twelve soil plots across the Park and regular field survey during the 5-year period after the fire (2013–17). Automated scripts in a geographical information system have been developed to process large quantity spatial data and produce time-series erosion risk maps which show spatial and temporal changes in hillslope erosion and groundcover across the Park at near real time.
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Teng, Ming, Hugh Considine, Zorica Nedic, and Andrew Nafalski. "Current and Future Developments in Remote Laboratory NetLab." International Journal of Online Engineering (iJOE) 12, no. 08 (August 30, 2016): 4. http://dx.doi.org/10.3991/ijoe.v12i08.6034.
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In this paper we report on current and future developments in the remote laboratory NetLab. After a short review of real, virtual and remote laboratories, NetLab – a remote laboratory created and operated at the University of South Australia since 2002, is introduced. Experiments conducted in 2015 using real laboratory and NetLab are presented and student feedback on those reported. Increasingly, both academics and students accept that properly structured, documented and supported remote laboratories constitute a valid complementation to and/or replacement of real laboratories. To increase the students’ learning support in remote laboratories a development of an intelligent tutoring system based on the learning analytics is proposed and outlined in this paper.
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Waldner, François, Foivos I. Diakogiannis, Kathryn Batchelor, Michael Ciccotosto-Camp, Elizabeth Cooper-Williams, Chris Herrmann, Gonzalo Mata, and Andrew Toovey. "Detect, Consolidate, Delineate: Scalable Mapping of Field Boundaries Using Satellite Images." Remote Sensing 13, no. 11 (June 4, 2021): 2197. http://dx.doi.org/10.3390/rs13112197.
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Digital agriculture services can greatly assist growers to monitor their fields and optimize their use throughout the growing season. Thus, knowing the exact location of fields and their boundaries is a prerequisite. Unlike property boundaries, which are recorded in local council or title records, field boundaries are not historically recorded. As a result, digital services currently ask their users to manually draw their field, which is time-consuming and creates disincentives. Here, we present a generalized method, hereafter referred to as DECODE (DEtect, COnsolidate, and DElinetate), that automatically extracts accurate field boundary data from satellite imagery using deep learning based on spatial, spectral, and temporal cues. We introduce a new convolutional neural network (FracTAL ResUNet) as well as two uncertainty metrics to characterize the confidence of the field detection and field delineation processes. We finally propose a new methodology to compare and summarize field-based accuracy metrics. To demonstrate the performance and scalability of our method, we extracted fields across the Australian grains zone with a pixel-based accuracy of 0.87 and a field-based accuracy of up to 0.88 depending on the metric. We also trained a model on data from South Africa instead of Australia and found it transferred well to unseen Australian landscapes. We conclude that the accuracy, scalability and transferability of DECODE shows that large-scale field boundary extraction based on deep learning has reached operational maturity. This opens the door to new agricultural services that provide routine, near-real time field-based analytics.
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Duff, Thomas J., Derek M. Chong, and Trent D. Penman. "Quantifying wildfire growth rates using smoke plume observations derived from weather radar." International Journal of Wildland Fire 27, no. 8 (2018): 514. http://dx.doi.org/10.1071/wf17180.
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Fast-moving wildfires can result in substantial losses of infrastructure, property and life. During such events, real-time intelligence is critical for managing firefighting activities and public safety. The ability of fixed-site weather radars to detect the plumes from fires has long been recognised; however, quantitative methods to link properties of radar observed plumes to fire behaviour are lacking. We investigated the potential for weather radars to provide real time estimates of the growth of large fires in south-eastern Australia. Specifically, we examined whether the rate of change in fire area could be approximated using the change in volume represented by radar returns. We evaluated a series of linear mixed-effects models predicting fire-area growth using radar data representing a range of dBZ thresholds and search volumes. Models were compared using an information–theoretic approach. Radar return volume was found to be a robust predictor of fire-area change. The best model had a minimum threshold of 10 dBZ and a search radius of 60 km (R2 = 0.64). Fire area and radar relationships did not vary significantly between radar stations, suggesting broad applicability beyond the dataset. Further development of the use of weather radars for wildfire monitoring could yield substantial benefits because of their high frequency of scan and broad coverage over many populated areas.
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Shiem-shin Then, Danny, Teng-hee Tan, Rogerio Fonseca Santovito, and Per Anker Jensen. "Attributes of alignment of real estate and facilities management to business needs." Journal of Corporate Real Estate 16, no. 2 (May 6, 2014): 80–96. http://dx.doi.org/10.1108/jcre-09-2013-0026.
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Purpose – The purpose of this paper is to present a model for consideration of real estate and facilities management (RE/FM) alignment to business needs and to validate the model based on questionnaire surveys carried out in a number of countries around the world. Design/methodology/approach – The model for RE/FM alignment is inspired by the work of the fathers of the Balanced Scorecard in their book called Alignment. The model includes a number of criteria for alignment between business needs, facility solutions, FM services and FM resources. Three multi-year questionnaire surveys were conducted using the same methodology: the surveys have been carried out in three rounds in different languages: English, Portuguese and Danish. The respondents were senior professionals in the area of FM and real estate/property, mostly working at strategic levels, and representing countries in Asia, Australia, Europe, North America, and South America. The results of the different surveys were combined and then analyzed, using both statistical analysis and tests to validate the results. Differences in the priorities of the alignment criteria in the different regions are described and analyzed. Findings – A main result of the surveys is that all of the alignment criteria were seen as relevant and useful in nearly all countries, but the accorded priorities to the different criteria varied significantly for some of the alignment variables in the different regions. The highest degree of agreement was on “capacity”, being the most important criteria for the alignment between supply and demand of facility solutions in relation to business needs. One of the main differences in agreement was between the importance of strategy versus cost in the alignment between “facility solutions” and “FM services”. Originality/value – Alignment of RE/FM to business needs is an essential management task and an important tool for RE/FM executives to create added value to their core business. However, there has so far only been limited research into such an alignment concept applicable to FM and an implementation model.
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Sardina, Victor, Kanoa Koyanagi, and Stuart Weinstein. "Baseline Assessment of the Importance of Contributions from Regional Seismic Networks to the Pacific Tsunami Warning Center’s Operations." Seismological Research Letters 91, no. 2A (February 12, 2020): 687–94. http://dx.doi.org/10.1785/0220190235.
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Abstract The Pacific Tsunami Warning Center’s (PTWC’s) core mission consists in saving lives and minimizing property damage through the issuance of timely, effective tsunami warnings and threat messages. For this purpose, the center relies primarily not only on the analysis of near-real-time seismic data streams provided by established networks such as the Global Seismic Network (GSN), but also by an increasing number of stations contributed by regional seismic networks (RSNs) from around the world. We used theoretical computations of the detection time of the first arriving P wave as a proxy to highlight the areas where RSN contributions have the greatest operational impact. To this goal, the P-wave detection times computed for the GSN provided a baseline to isolate the contribution of the RSN in the form of spatially distributed detection time gains. Inspection of the resulting global maps reveals detection time gains of more than 3 m for Hawaii, Alaska, the east and west coasts of the United States, South America, New Zealand, the southwest Pacific, Australia, and the Sunda arc. Despite higher density of GSN baseline stations across the U.S. west coast and the eastern Caribbean, contributions from RSNs result in detection time gains of more than 2 m. These gains in earthquake detection speed correlate well with the continuous increase in the number of stations ingested into the PTWC system and the gradual reduction of the operational median response time to under 6 m from origin during the last 5 yr. These results allow us to conclude that fulfillment of the PTWC’s international and domestic tsunami warning responsibilities critically depends on the support of the RSNs contributing data to PTWC’s daily operations.
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Ishak, Elias, Khaled Haddad, Mohammad Zaman, and Ataur Rahman. "Scaling property of regional floods in New South Wales Australia." Natural Hazards 58, no. 3 (January 22, 2011): 1155–67. http://dx.doi.org/10.1007/s11069-011-9719-6.
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Koehne, Joanne, and John Howard. "Property Assist: A New Approach to the Delivery of Property Information to South Australia." Cartography 30, no. 1 (June 2001): 59–68. http://dx.doi.org/10.1080/00690805.2001.9714136.
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Collins, Kathryn M., Owen F. Price, and Trent D. Penman. "Spatial patterns of wildfire ignitions in south-eastern Australia." International Journal of Wildland Fire 24, no. 8 (2015): 1098. http://dx.doi.org/10.1071/wf15054.
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Wildfires can have devastating effects on life, property and the environment. Official inquiries following major damaging fires often recommend management actions to reduce the risk of future losses from wildfires. Understanding where wildfires are most likely to occur in the landscape is essential to determining where wildfires pose the greatest risk to people and property. We investigated the spatial patterns of wildfire ignitions at a bioregional scale in New South Wales and Victoria using generalised linear models. We used a combination of social and biophysical variables and examined whether different categories of ignitions respond to different explanatory variables. Human-caused ignitions are the dominant source of ignitions for wildfires in south-eastern Australia and our results showed that for such ignitions, population density was the most important variable for the spatial pattern of ignitions. In future years, more ignitions are predicted in the coastal and hinterland areas due to population increases and climate change effects.
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Zhang, Ge, and Wilfred Yang Wang. "‘Property talk’ among Chinese Australians: WeChat and the production of diasporic space." Media International Australia 173, no. 1 (April 1, 2019): 53–65. http://dx.doi.org/10.1177/1329878x19837669.
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This article examines the ways the Australian property market is addressed among Chinese migrants in Australia on and off WeChat, one of the most popular instant messenger apps installed on Smartphones. Specifically, we focus on how migrant media and real estate professionals’ narratives on real estate properties constitute and reproduce a transnational Chinese diasporic space between China and Australia. Although the latest wave of ‘property talk’ is relatively a new concept to the mainstream Australian societies due to the housing price boom since 2012, talking about land and property ownerships has always been integral part of Chinese diasporic culture. Yet, with the advent of digital media technologies, this cultural conversation is increasingly being delivered, processed and experienced through digital platforms such as that of WeChat. Drawing on observations on WeChat and interviews with Chinese media and real estate practitioners in Australia, we conceive that WeChat plays a vital role in forging and reproducing Chinese diasporic spaces in Australia by articulating the intersection of diasporic spatiality and mediasphere. We contend that WeChat’s affordances of the informational, interpersonal and instrumental have aided Chinese migrants and those Chinese real estate practitioners to co-constitute a social space of property talk that enables new social relations to be negotiated and social networks to be established and reinforced across China and Australia.
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Mani, Deepa, Kim-Kwang Raymond Choo, and Sameera Mubarak. "Information security in the South Australian real estate industry." Information Management & Computer Security 22, no. 1 (March 4, 2014): 24–41. http://dx.doi.org/10.1108/imcs-10-2012-0060.
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Purpose – Opportunities for malicious cyber activities have expanded with the globalisation and advancements in information and communication technology. Such activities will increasingly affect the security of businesses with online presence and/or connected to the internet. Although the real estate sector is a potential attack vector for and target of malicious cyber activities, it is an understudied industry. This paper aims to contribute to a better understanding of the information security threats, awareness, and risk management standards currently employed by the real estate sector in South Australia. Design/methodology/approach – The current study comprises both quantitative and qualitative methodologies, which include 20 survey questionnaires and 20 face-to-face interviews conducted in South Australia. Findings – There is a lack of understanding about the true magnitude of malicious cyber activities and its impact on the real estate sector, as illustrated in the findings of 40 real estate organisations in South Australia. The findings and the escalating complexities of the online environment underscore the need for regular ongoing training programs for basic online security (including new cybercrime trends) and the promotion of a culture of information security (e.g. when using smart mobile devices to store and access sensitive data) among staff. Such initiatives will enable staff employed in the (South Australian) real estate sector to maintain the current knowledge of the latest cybercrime activities and the best cyber security protection measures available. Originality/value – This is the first academic study focusing on the real estate organisations in South Australia. The findings will contribute to the evidence on the information security threats faced by the sector as well as in develop sector-specific information security risk management guidelines.
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Poon, Joanna, and Michael Brownlow. "Competency expectations for property professionals in Australia." Journal of Property Investment & Finance 32, no. 3 (April 1, 2014): 256–81. http://dx.doi.org/10.1108/jpif-12-2013-0068.
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Purpose – The aim of this paper is to identify the competency expectations for property professionals in Australia. It further discusses differences in competency expectations between property professionals who have different professional backgrounds, such as valuers or non-valuers, and property professionals who work in different sectors or different-sized companies and who have differing amounts of experience. The competencies identified in this paper include knowledge areas, skills and attributes. Design/methodology/approach – This paper presents the research findings of a questionnaire survey sent to Australian Property Institute members, which aimed to gather Australian property professionals' views on the knowledge, skills and attributes required to perform their roles effectively. The percentage of the respondents who provided different choices of given answers for each of the 31 knowledge areas, 20 skills and 21 attributes was identified and discussed. The professional backgrounds of the respondents were also identified to see whether these impact on competency expectations for property professionals. Content analysis was used to analyse written comments collected in the questionnaire. Findings – The most important categories of knowledge, skill and attribute for Australian property professionals are valuation, effective written communication and practical experience, respectively. The least important are international real estate, second language and creativity. Knowledge of rural valuation is very important in Australia, although this has not been mentioned in previous studies. Professional backgrounds have a large influence on Australian property professionals' views on knowledge requirements, but less so on skills and attributes. Practical implications – The findings of this paper can be used as guidance for property professionals in their professional development plan. In addition, property course providers can use the research findings of this paper to inform their curriculum development and redesign. Originality/value – This project is the first to identify the comprehensive competency expectations of property professionals as a whole in Australia. At the same time, it identifies differences in the competency expectations of property professionals who have different professional backgrounds. Similar types of study have been conducted in the UK, the USA, Hong Kong and New Zealand but not yet in Australia. An understanding of the knowledge, skills and attributes required for property professionals is important for continuing professional development, curriculum development and the redesign of relevant property courses in order to maintain performance and competitiveness in the property sector.
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Xu, Lu. "The New Real Property Registration Structure in China: Progress with Unanswered Questions." Global Journal of Comparative Law 5, no. 1 (June 1, 2016): 91–117. http://dx.doi.org/10.1163/2211906x-00501005.
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Since March 2015, China has been implementing a nationwide unified real property registration structure. This article explains the objectives and measures of this ambitious project against the background of the current system which is fraught with complexities, difficulties and local variations. The move represents significant progress in the regulation and administration of real property in line with the vision of streamlined registration explicitly provided for in statutes such as the Property Law of prc (2007). Nevertheless, within this undoubtedly positive reform, the currently unclear relationship between property law and property registration is left unattended. With reference to comparative materials from England, Scotland and Australia, this paper identifies some of the unanswered questions that would have serious implications on the integrity and reliability of the real property register as a whole, especially in the context of fraud and forgery.
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Abidoye, Rotimi Boluwatife, Ma Junge, Terence Y. M. Lam, Tunbosun Biodun Oyedokun, and Malvern Leonard Tipping. "Property valuation methods in practice: evidence from Australia." Property Management 37, no. 5 (October 21, 2019): 701–18. http://dx.doi.org/10.1108/pm-04-2019-0018.
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Purpose Improving valuation accuracy, especially for sale and acquisition purposes, remains one of the key targets of the global real estate research agenda. Among other recommendations, it has been argued that the use of technology-based advanced valuation methods can help to narrow the gap between asset valuations and actual sale prices. The purpose of this paper is to investigate the property valuation methods being adopted by Australian valuers and the factors influencing their level of awareness and adoption of the methods. Design/methodology/approach An online questionnaire survey was conducted to elicit information from valuers practising in Australia. They were asked to indicate their level of awareness and adoption of the different property valuation methods. Their response was analysed using frequency distribution, χ2 test and mean score ranking. Findings The results show that the traditional methods of valuation, namely, comparative, investment and residual, are the most adopted methods by the Australian valuers, while advanced valuation methods are seldom applied in practice. The results confirm that professional bodies, sector of practice and educational institutions are the three most important drivers of awareness and adoption of the advanced valuation methods. Practical implications There is a need for all the property valuation stakeholders to synergise and transform the property valuation practice in a bid to promote the awareness and adoption of advanced valuation methods, (e.g. hedonic pricing model, artificial neural network, expert system, fuzzy logic system, etc.) among valuers. These are all technology-based methods to improve the efficiency in the prediction process, and the valuer still needs to input reliable transaction data into the systems. Originality/value This study provides a fresh and most recent insight into the current property valuation methods adopted in practice by valuers practising in Australia. It identifies that the advanced valuation methods could supplement the traditional valuation methods to achieve good practice standard for improving the professional valuation practice in Australia so that the valuation profession can meet the industry’s expectations.
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Dye, Alan, and Sumner La Croix. "The Political Economy of Land Privatization in Argentina and Australia, 1810–1850: A Puzzle." Journal of Economic History 73, no. 4 (November 15, 2013): 901–36. http://dx.doi.org/10.1017/s0022050713000831.
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In early public land privatization, governments in New South Wales and Buenos Aires provided for de jure transfer of public lands. In New South Wales the government lost control; squatters rushed out unlawfully and seized de facto frontier claims. But in Buenos Aires privatization was accomplished by de jure transfers. Why did British settlers reject de jure transfers from a government, most able to secure property rights and rule of law, while settlers of the pampa frontier, where property-rights security was doubtful, complied with de jure transfers? We find that the revenue objective and violence on the frontier explain this puzzle.
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Richards, Eric. "Irish life and progress in colonial South Australia." Irish Historical Studies 27, no. 107 (May 1991): 216–36. http://dx.doi.org/10.1017/s0021121400010518.
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South Australia was the least Irish part of nineteenth-century Australia. Proportionately fewer Irish arrived at Port Adelaide than at the other great immigrant ports of the southern continent. They also came later: relatively few Irish participated in the first dozen years of colonisation in South Australia after its inception in 1836. In contrast with other parts of Australia the Irish were slow to reach a tenth and never reached a third of the colonial population. They were not in South Australia ‘a founding people’. They were indeed conspicuously a minority which faced the established and unquestioned primacy of Anglo-Scottish colonisation.South Australia was overwhelmingly English in its origins. From the beginning it was virtually a fragment of southern England, a Home Counties colony expressly designed for superior expatriates. It was also heavily advertised as a haven for Protestant dissenters. The first Catholic priest in South Australia, William Benson, was hardly exaggerating when he described it in 1843 as ‘a little dissenting colony, exclusively Protestant evangelical’. He went further, saying that ‘when this colony was established no Catholic gentlemen of property were allowed to join the founders’ — implying thereby that the planners deliberately discouraged Irish participation. Only when the colonial population reached 14,000, asserted Benson, did ‘our late evangelical governors’ feel confident enough to permit a minority of Catholics reasonable and equal entry. Another Catholic Irishman, Major Thomas O’Halloran, also claimed that the early colonial planners had been anti-Irish, wishing to restrict their numbers to less than 5 per cent of the colonial population. It is little wonder that South Australia seemed, in Irish eyes, the most alien quarter of the new continent.
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Nunes, RA, and GW Lennon. "Physical property distributions and seasonal trends in Spencer Gulf, South Australia: an inverse estuary." Marine and Freshwater Research 37, no. 1 (1986): 39. http://dx.doi.org/10.1071/mf9860039.
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Results are described from the first long-term, systematic program of oceanographic measurements in Spencer Gulf, South Australia. The gulf belongs to a subset of semi-enclosed seas that are characterized by a net fluid loss, in this case induced by excess evaporation, and a resulting circulation that is the reverse of that found in a classical estuary. In Spencer Gulf, this inverse estuary character involves the production of salinities as high as 48 at the head in late summer. The seasonal variations of temperature and salinity, from both large-scale CTD surveys and time-series observations at a fixed station, reveal the manner in which the gulf responds to seasonal influences. From such information, the gulf's dispersive capabilities are quantitatively assessed, and the implications of thermohaline processes for gulf-ocean exchange are discussed.
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Babie, Paul, Paul Leadbeter, and Kyriaco Nikias. "Property, Unbundled Water Entitlements, and Anticommons Tragedies: A Cautionary Tale From Australia." Michigan Journal of Environmental & Administrative Law, no. 9.1 (2020): 107. http://dx.doi.org/10.36640/mjeal.9.1.property.
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As water becomes an increasingly scarce resource, a lack of clarity in relation to its use can produce both conflict among and inefficient use by users. In order to encourage markets in water and to ensure the viability and functionality of those markets, governments in many jurisdictions have moved away from commons property as a means of water allocation, and towards systems of private property in water. In doing so, one policy and legal option is “unbundling”, which seeks carefully to define both the entitlement to water and its separation into constituent parts. Advocates claim that unbundling makes water rights easier to value, monitor, and trade. But is unbundling the most efficient means of allocating water use rights? Or might such fragmentation produce what has come to be called an “anticommons tragedy”? To answer these questions, this article contains four parts. The Introduction provides the legal background to the modern means of allocating the use of water amongst competing, or rivalrous, users. Part I considers the theoretical nature of property, and the way in which such theory might be extended to water allocation through unbundling. Part II presents unbundling as it has been implemented in the Australian state of South Australia. This allows us to assess the extent to which the stated policy rationale for unbundling—certainty and transferability of entitlements—has been achieved and the extent to which this is a desirable outcome. Our analysis can be applied to any jurisdiction, most notably the arid and semi-arid southwestern United States, considering unbundling as a legal and policy option for the allocation of water use. The Conclusion reflects upon the potential for unbundling water entitlements in arid or semi-arid environments. The South Australian experience reveals a reluctance to embrace unbundling, both on the part of the state in terms of implementing, and on the part of market actors holding existing proprietary interests in water. This reluctance ought to be viewed by other jurisdictions as a warning about the effectiveness and efficiency of unbundling. We show that unbundling efforts may not only fail to provide efficiency gains, but also, and much more worryingly, may in fact drive anticommons tragedies that entirely inhibit any beneficial use. We propose that our anecdotal and theoretical analysis of South Australia requires empirical research both in Australia and in other jurisdictions climatologically, hydrologically, and in underlying legal framework, similar to Australia. Such empirical research will test our conclusions in relation to South Australia, both in respect to the operation of the water market and as to the behavior of market actors.
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Yong, Jaime, and Anh Khoi Pham. "The long-term linkages between direct and indirect property in Australia." Journal of Property Investment & Finance 33, no. 4 (July 6, 2015): 374–92. http://dx.doi.org/10.1108/jpif-01-2015-0005.
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Purpose– Investment in Australia’s property market, whether directly or indirectly through Australian real estate investment trusts (A-REITs), grew remarkably since the 1990s. The degree of segregation between the property market and other financial assets, such as shares and bonds, can influence the diversification benefits within multi-asset portfolios. This raises the question of whether direct and indirect property investments are substitutable. Establishing how information transmits between asset classes and impacts the predictability of returns is of interest to investors. The paper aims to discuss these issues.Design/methodology/approach– The authors study the linkages between direct and indirect Australian property sectors from 1985 to 2013, with shares and bonds. This paper employs an Autoregressive Fractionally Integrated Moving Average (ARFIMA) process to de-smooth a valuation-based direct property index. The authors establish directional lead-lag relationships between markets using bi-variate Granger causality tests. Johansen cointegration tests are carried out to examine how direct and indirect property markets adjust to an equilibrium long-term relationship and short-term deviations from such a relationship with other asset classes.Findings– The authors find the use of appraisal-based property data creates a smoothing bias which masks the extent of how information is transmitted between the indirect property sector, stock and bond markets, and influences returns. The authors demonstrate that an ARFIMA process accounting for a smoothing bias up to lags of four quarters can overcome the overstatement of the smoothing bias from traditional AR models, after individually appraised constituent properties are aggregated into an overall index. The results show that direct property adjusts to information transmitted from market-traded A-REITs and stocks.Practical implications– The study shows direct property investments and A-REITs are substitutible in a multi-asset portfolio in the long and short term.Originality/value– The authors apply an ARFIMA(p,d,q) model to de-smooth Australian property returns, as proposed by Bond and Hwang (2007). The authors expect the findings will contribute to the discussion on whether direct property and REITs are substitutes in a multi-asset portfolio.
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Trethewey, Lynne. "Infants, graded schooling and the transition to real studenthood in colonial South Australia." History of Education 27, no. 4 (December 1998): 371–90. http://dx.doi.org/10.1080/0046760980270401.
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Gibbs, M. "Studying pastoral property management in the arid zone." Rangeland Journal 7, no. 1 (1985): 55. http://dx.doi.org/10.1071/rj9850055.
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The study of pastoral property management in the arid zone is important, but fraught with problems. In 1980, 30 managers in the North-East Pastoral Region of South Australia were surveyed. This paper identifies the human and social factors found to be related to some of the structural and managerial variables measured in the survey. Several of the more important problems associated with studying pastoral property management are noted, and one possible method of overcoming them described.
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Manning, Matthew, Christopher L. Ambrey, Christopher M. Fleming, and Shane D. Johnson. "The Impact of Field Court Attendance Notices on Property Crime in New South Wales, Australia." Journal of Quantitative Criminology 34, no. 4 (July 21, 2017): 971–98. http://dx.doi.org/10.1007/s10940-017-9362-9.
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Rudansky-KlopperS, S., and J. Strydom. "Customer service in the residential property market of South Africa." South African Journal of Economic and Management Sciences 7, no. 1 (July 23, 2004): 58–74. http://dx.doi.org/10.4102/sajems.v7i1.1428.
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An increasing number of estate agencies are entering the real estate market in South Africa and many are struggling to survive as competition grows stronger. Customer service has become of overriding importance to establish a differential advantage that will ensure long-term survival. This study investigates customer service by estate agencies in the residential property market of South Africa. The results indicate that estate agencies seem to be aware of the importance of providing good customer service and of being service-oriented, but they do not always seem to realise the need to conduct marketing research and test the actual satisfaction of customers with the services provided, leaving a potential gap between what the customer wants and what the estate agency provides.
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Zhou, Tian, Bart Nijssen, George J. Huffman, and Dennis P. Lettenmaier. "Evaluation of Real-Time Satellite Precipitation Data for Global Drought Monitoring." Journal of Hydrometeorology 15, no. 4 (July 30, 2014): 1651–60. http://dx.doi.org/10.1175/jhm-d-13-0128.1.
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Abstract The Tropical Rainfall Measuring Mission (TRMM) Multi-satellite Precipitation Analysis (TMPA) near-real-time (RT) data are considered less accurate than the TMPA research quality (RP) data because of the simplified data processing algorithm and the lack of gauge adjustments. However, for near-real-time hydrological applications, such as drought nowcasting, the RT data must play a key role given latency considerations and consistency is essential with products like RP, which have a long-term climatology. The authors used a bivariate test to examine the consistency between the monthly RT and RP precipitation estimates for 12 yr (2000–12) and found that, for over 75% of land cells globally, RT and RP were statistically consistent at 0.05 significance level. The inconsistent grid cells are spatially clustered in western North America, northern South America, central Africa, and most of Australia. The authors also show that RT generally increases with time relative to RP in northern South America and western Australia, while in western North America and eastern Australia, RT decreases relative to RP. In other areas such as the eastern part of North America, Eurasia, and southern part of the South America, the RT data are statistically consistent with the RP data and are appropriate for global- or macroscale hydrological applications.
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Chikafalimani, S., and C. Cloete. "Property Industry Perceptions on Time Allocation to Masters Real Estate Topics in South Africa." Journal of Real Estate Practice and Education 13, no. 1 (January 1, 2010): 23–32. http://dx.doi.org/10.1080/10835547.2010.12091668.
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Currin, Brent, Nompilo Msibi, Tsebang Chuene, and Andre Kruger. "An investigation into the ethical standards and values of registered property valuers in South Africa." Journal of Economic and Financial Sciences 7, no. 3 (October 31, 2014): 853–70. http://dx.doi.org/10.4102/jef.v7i3.241.
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Ethical issues and standards of property professions are being scrutinised. To date, no research has been carried out on the ethical standards in the property valuation profession in South Africa. This research compared the content of codes of ethics and professional conduct of the South African property valuation profession to international standards, and investigated the ethical standards and moral values held by registered valuers in South Africa. A self-administered survey, administered to 611 professional and professional associate valuers, was used. It measured five constructs of unethical behaviour layered into a survey adapted from Hoyt, Wright and Croft (2002). No statistically significant differences were found between different demographic factors in the ethical beliefs of South African valuers. A literature review comparing South Africa’s codes of conduct with those in the United States of America, Australia and New Zealand showed that the standards of ethics and professional practice in South Africa are not in line with international standards. South African valuers appear to be ethical and resist external pressures which could lead to unethical behaviour.
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Poon, Joanna, and Michael Brownlow. "Real estate student satisfaction in Australia: what matters most?" Property Management 33, no. 2 (April 20, 2015): 100–132. http://dx.doi.org/10.1108/pm-05-2014-0023.
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Purpose – The purpose of this paper is to identify the relative importance of the factors that influence the overall satisfaction of real estate students and also examine the extent to which demographic backgrounds affect this. Furthermore, this paper benchmarks the satisfaction of real estate students against that of built environment students. Design/methodology/approach – The data used in this paper have been collected from the Course Experience Questionnaire (CEQ) within the Australian Graduate Survey (AGS). Dimensionality reduction was used to prepare the data about the courses identified in the AGS for analysis. This was done in order to simplify classification of real estate and built environment courses examined in this paper. Descriptive and statistical analysis methods were used to analyse student satisfaction variables and identify the extent to which demographic factors influenced overall student satisfaction. Findings – Real estate students in Australia have a relatively higher level of student satisfaction compared to built environment students overall, but built environment students have a higher level of satisfaction with regard to compulsory variables such as “Good Teaching Scale” and “Generic Skills Scale”. However, real estate students show a higher level of agreement in the Likert scale regarding the optional variables “Appropriate Assessment” and “Learning Community”, respectively. The most important factor for overall student satisfaction was the question: “the staff made it clear right from the start what they expected from the students”. The answers to this question had a Pearson correlation value of 1.000 for both real estate and built environment students. Age and mode of study also have some impact on the overall satisfaction level of both sets of students, while gender, degree class and the year the university were established are additional factors affecting the overall satisfaction of built environment students. Practical implications – This research identifies the factors that affect the satisfaction of property course students in ascending order of importance. Course directors of real estate courses can use the findings of this research to make recommendations on the redesign and redevelopment of their courses in order to make them more attractive and appealing to students to enhance student recruitment and retention. Originality/value – This is pioneering research that provides a comprehensive overview of the factors affecting student satisfaction with regard to real estate and built environment students in Australia.
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Adrian, C., and R. Stimson. "Asian Investment in Australian Capital City Property Markets." Environment and Planning A: Economy and Space 18, no. 3 (March 1986): 323–40. http://dx.doi.org/10.1068/a180323.
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In the mid-1970s Asian investment in Australia accounted for less than 15% of the total foreign investment inflow. By 1984 the inflow from Asia had increased dramatically to 40% or $A4155 million per annum. Over the past ten years an increasing proportion of the Asian investment inflow has been directed to the capital city property markets—particularly Sydney, Melbourne, Perth, Brisbane, and the Gold Coast. In this paper the reasons for these changes, and in particular the deregulation of the Australian finance sector and the underdeveloped conservative nature of Australian property markets, are analysed. It is argued that the changing nature of the capital city property markets is part of the process of integration into a world property market dominated by finance, corporate, and service linkages, and between the larger global cities, of which Sydney is one. Comparisons are made between the investment philosophies and behaviours of the Asian property investors active in Australia and those of their Australian and European counterparts. The paper focuses on the risk philosophies of the Asian investors and the degree to which they are providing a vital injection of funds for previously underdeveloped market opportunities. A critique is made of the existing Foreign Investment Review Board guidelines as they apply to equity investment by foreigners in Australian urban real estate. It is concluded that the guidelines have become an anachronism, and rather than protect the interest of Australia they have contributed to the growth in overseas indebtedness and are detrimental to sustained economic growth.
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Stevenson, Richard J., Bronwyn Lind, and Don Weatherburn. "Property damage and public disorder: Their relationship with sales of alcohol in New South Wales, Australia." Drug and Alcohol Dependence 54, no. 2 (April 1999): 163–70. http://dx.doi.org/10.1016/s0376-8716(98)00157-4.
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Ntene, Tsoanelo, Samuel Azasu, and Anthony Owusu-Ansah. "Corporate real estate and corporate strategy alignment in South Africa." Journal of Corporate Real Estate 22, no. 3 (January 13, 2020): 181–96. http://dx.doi.org/10.1108/jcre-05-2019-0025.
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Purpose This paper aims to discuss whether alignment between corporate real estate strategy and corporate strategy exists for non-property companies listed on the Johannesburg Securities Exchange and what effects alignment has on the firms’ financial performance. Design/methodology/approach The study was both qualitative and quantitative in nature, with a specific focus on non-property firms listed on the Johannesburg Securities Exchange. The qualitative part of the study involved the analysis of the firms’ annual reports to determine the presence and use of corporate real estate strategies and their alignment to corporate strategy and the extraction of financial indicator data. The quantitative portion of the study involved the use of multivariate analysis, to distinguish and quantify the relationship, if any, between corporate real estate strategy and the identified financial performance indicators. The independent variables were the CRE strategies employed and the dependent variable was the share price. The methods used in this study have been applied before in European and Asian studies; this assisted in ensuring that validity and reliability was achieved. Findings The study finds that the most used strategy by firms (47%) is that which facilitates production, operation and service delivery. The Consumer Goods, Healthcare and Telecommunications sectors appear to demonstrate the highest level of alignment. Return on Shareholder Funds has a strong significant positive correlation with share price. Flexibility as a corporate real estate strategy also has a significant positive coefficient, which indicates a positive relationship with share price. Research limitations/implications Although consistent with results of studies conducted in Europe and Asia, the results of this research may not be applicable to privately held non-listed firms, state-owned enterprises, non-profits and educational institutions. This study also ignores the dynamic external environment in which firms operate and the necessity of firms adjusting their corporate real estate strategy to their changing business strategy. Practical implications These results suggest that the incorporation of corporate real estate strategy in the firms’ corporate strategy formulation has the potential to enhance shareholder value for South African firms. Real estate developers, landlords and owner occupiers would benefit from better understanding the strategic requirements of corporations to ensure that the solutions they provide increase the likelihood of maximizing shareholder return. Originality/value The role of corporate real estate strategy in the firms’ corporate strategy formulation has the ability to enhance shareholder value. This research adds to the scant literature on corporate real estate management in South Africa.
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Shojaei, D., H. Olfat, M. Briffa, and A. Rajabifard. "3D DIGITAL CADASTRE JOURNEY IN VICTORIA, AUSTRALIA." ISPRS Annals of Photogrammetry, Remote Sensing and Spatial Information Sciences IV-4/W5 (October 23, 2017): 117–23. http://dx.doi.org/10.5194/isprs-annals-iv-4-w5-117-2017.
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Land development processes today have an increasing demand to access three-dimensional (3D) spatial information. Complex land development may need to have a 3D model and require some functions which are only possible using 3D data. Accordingly, the Intergovernmental Committee on Surveying and Mapping (ICSM), as a national body in Australia provides leadership, coordination and standards for surveying, mapping and national datasets has developed the Cadastre 2034 strategy in 2014. This strategy has a vision to develop a cadastral system that enables people to readily and confidently identify the location and extent of all rights, restrictions and responsibilities related to land and real property. <br><br> In 2014, the land authority in the state of Victoria, Australia, namely Land Use Victoria (LUV), has entered the challenging area of designing and implementing a 3D digital cadastre focused on providing more efficient and effective services to the land and property industry. LUV has been following the ICSM 2034 strategy which requires developing various policies, standards, infrastructures, and tools. Over the past three years, LUV has mainly focused on investigating the technical aspect of a 3D digital cadastre. This paper provides an overview of the 3D digital cadastre investigation progress in Victoria and discusses the challenges that the team faced during this journey. It also addresses the future path to develop an integrated 3D digital cadastre in Victoria.
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Els, Michael, and Dieter Von Fintel. "RESIDENTIAL PROPERTY PRICES IN A SUBMARKET OF SOUTH AFRICA: SEPARATING REAL RETURNS FROM ATTRIBUTE GROWTH." South African Journal of Economics 78, no. 4 (December 2010): 418–36. http://dx.doi.org/10.1111/j.1813-6982.2010.01244.x.
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Mutze, GJ. "Long-term effects of warren ripping for rabbit control in semi-arid South Australia." Rangeland Journal 13, no. 2 (1991): 96. http://dx.doi.org/10.1071/rj9910096.
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Warren ripping and poisoning were used to control rabbits on the flood-out plain of a major creek system on Manunda Station, a sheep-grazing property near Yunta in semi-arid South Australia. Rabbit numbers were initially reduced by >99 per cent, as indicated by the number of active entrances remaining in rabbit warrens. After nearly 10 years without follow-up control work, ripped warrens had only two per cent of the pre-control number of active entrances. Poisoning effectively reduced rabbit numbers in the short-term, but had no long-term effect on the number of active entrances, either in ripped or unripped warrens. Perennial shrubs regenerated on and around ripped warrens. Warren ripping on this part of Manunda is a cost-effective management option.
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Mulley, Corinne, Breno Sampaio, and Liang Ma. "South Eastern Busway Network in Brisbane, Australia: Value of the Network Effect." Transportation Research Record: Journal of the Transportation Research Board 2647, no. 1 (January 2017): 41–49. http://dx.doi.org/10.3141/2647-06.
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This paper identifies how much was added to residential land values through the provision of bus rapid transit (BRT) service in Brisbane, Queensland, Australia, with regard to increases in land values because of the BRT system itself and the value of the network effect as a result of incremental additions to the transport infrastructure, a much more common feature of Australian cities. Difference-in-differences models were employed to explore whether there were significant differences between the treatment group (properties close to busway stations) and the control group (properties not close to busway stations) with regard to housing price changes (first difference) before and after the opening of busway stations (second difference). Two types of control groups were defined by using conventional buffer methods and propensity score matching. Model results show increases in property prices because of better accessibility to busways themselves, on the one hand, and on the other hand, additions to the value of land through the network effect of access to a greater service area as the BRT network is developed. The paper reports how different methods of identifying control areas to match given treatment areas had different results and discusses the implications of these results for a literature that has a variety of methods established for research.
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Du Toit, H., and CE Cloete. "Appraisal of the Fischer-DiPasquale-Wheaton (FDW) real estate model and development of an integrated property and asset market model." South African Journal of Economic and Management Sciences 7, no. 2 (April 28, 2004): 341–67. http://dx.doi.org/10.4102/sajems.v7i2.1382.
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This paper provides a concise overview of the development of an integrated property and asset market model (IPAMM) for South African property markets, utilising the Pretoria office market as case study. The IPAMM simulates the interrelationships between property and asset markets in a diagrammatic quadrant model configuration. The Fischer-DiPasquale-Wheaton (FDW) real estate model, arguably the most advanced diagrammatic quadrant real estate model available at present, served as basis for the development of IPAMM. IPAMM is essentially a regression model based on a system of stochastic equations that captures the interrelationships between property and asset markets. The model advances beyond mere conceptualisation of these relationships to a quantified interpretation and application of the theoretical premises that represent the micro-foundations of economic behaviour in property and asset markets.
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Wilkinson, Sara J., and Julie R. Jupp. "Exploring the value of BIM for corporate real estate." Journal of Corporate Real Estate 18, no. 4 (November 14, 2016): 254–69. http://dx.doi.org/10.1108/jcre-11-2015-0040.
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Purpose Building information modelling (BIM) offers rich opportunities for property professionals to use information throughout the property life cycle. However, the benefits of BIM for property professionals are largely untapped. BIM was developed by the architecture, engineering and construction (AEC) sector to assist in managing design and construction data. As these technologies mature and evolve, so does the opportunity for other professional groups to use data within, or linked to, BIM models. This paper aims to explore the potential for corporate real estate managers (CREM) and investment surveyors to use data contained in BIM models and building management systems, which could help these professionals with strategic planning, portfolio rationalisation and acquisitions. Design/methodology/approach This is a scoping study to explore the potential to expand the scope of BIM to other professional activities. As such, the research adopted a Delphi approach with a series of workshops with experienced stakeholders in Australia and England. Qualitative research is inductive and hypothesis-generating. That is, as the researcher assimilates knowledge and information contained in the literature, ideas and questions are formed, which are put to research participants, and, from this process, conclusions are drawn. Findings It is technologically feasible for some property professionals, such as CREM, to use some data contained within BIM, and linked building management systems. The types of data used by property professionals were identified and ranked in importance. Needs are varied, both in the range of data and the points in the property life cycle when they are required. The benefits identified include potentially accessing and using more reliable and accurate data in professional tasks; however, challenges exist around the fidelity of the data and assurances that it is current. Research limitations/implications The key limitations of the research were that the views expressed are those of a select group of experienced practitioners and may not represent the consensus view of the professions and industry as a whole. The limitations and criticisms of focus group data collection are that individuals holding strong views may dominate the sessions. Practical implications The findings show that expanding access to BIM could enable some property professionals, including CREM, to utilise relevant data that could improve the quality and accuracy of their professional services. A simple initial system could be trialled to ascertain the value of the data. Over time, the availability of data could be extended to allow more professionals access. Furthermore, there is potential to link BIM to other digitised property data in the future. Originality/value To date, no one has considered the practicality or potential utility of expanding the access to data contained in 3D BIM models to property professionals, nor has anyone considered which data would be useful to them. The value of using BIM data is that, as more property stock is delivered and maintained via BIM-enabled processes, it will be possible for a wider range of professionals such as CREM and investment surveyors to offer more accurate advice and services to clients.
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Boshoff, Douw, and Chris E. Cloete. "Can listed property shares be a surrogate for direct property investment behaviour?" South African Journal of Economic and Management Sciences 15, no. 1 (March 16, 2012): 55–71. http://dx.doi.org/10.4102/sajems.v15i1.20.
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The listed property sector in South Africa has grown to a size which could be considered to be a good representation of the income producing property market in general. Stock market listed property investment funds offer the opportunity to compare indirect property investment to direct property investment, which could bridge the gap between irrational investment behaviour and intrinsic asset values. This study investigates the relationship between listed property share prices and the property values in listed property funds. The share prices are correlated with various factors, such as the accounting ratios of the companies, the financial statements of the companies and general economic variables. The outcome of the study is an explanation of the behaviour of listed property shares, and its relationship to the direct property market and the general economy. This would assist in the explanation of market behaviour and provides the opportunity to more accurately predict portfolio asset values, which might be used in the valuation of individual real estate assets.
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Stewart, Gregory, Patricia Bradd, Tish Bruce, Thomas Chapman, Brendon McDougall, Daniel Shaw, and Linda Soars. "Integrated care in practice – the South Eastern Sydney experience." Journal of Integrated Care 25, no. 1 (February 13, 2017): 49–60. http://dx.doi.org/10.1108/jica-07-2016-0025.
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Purpose The purpose of this paper is to describe the recent efforts of a large publicly funded healthcare organisation in Sydney, Australia to implement integrated care (IC) “at scale and pace” in the messy, real-world context of a District Health Service. Design/methodology/approach The paper outlines the theoretical and practical considerations used to design and develop a localised IC Strategy informed by the “House of Care” model (NHS England, 2016). Findings The need for cross-agency partnership, a shared narrative, joint leadership and an IC Strategy underpinned by proven theoretical models model is described. Originality/value This paper highlights key factors relating to implementation and evaluation of a local IC Strategy in the real world.
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Gore, Joshua Andrew, and Stefan Peters. "Interactive web mapping of 90 Years of Fire History Across South Australia." Abstracts of the ICA 1 (July 15, 2019): 1–2. http://dx.doi.org/10.5194/ica-abs-1-97-2019.
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<p><strong>Abstract.</strong> Fire is a significant part of South Australian history and integral to the state’s ecosystems. Small prescribed fires are an essential part of ecosystem management and health. However, large, uncontrollable bushfires during South Australia’s hot, dry summers often cause loss of property, damage to the environment and fatalities. An awareness of this fire history enables effective management and encourages residents to better prepare for catastrophic fire events. The South Australian Country Fire Service provides data on the burn extents of more than 5500 prescribed and accidental fire events across the state from 1931 to 2018. This work presents the development of an open-source interactive web mapping tool, allowing residents, managers, and other map users to intuitively explore the state’s fire history without the need for advanced software and skills. This web map application aims to clearly show the state’s complex fire history at any zoom level from the entire state to a medium sized rural property. To clearly symbolise areas with extensive fire history, events are shown as both polygons and centroid points. Points are symbolised using scale dependant clustering with cluster symbols including counts. This communicates both the number of fires and the extent of area burnt for regions of interest at all zoom levels. Statistics for the state’s fire districts are also portrayed using a choropleth symbology. Popups provide further information on all point and polygon data.</p><p> All processing is done by the browser, with GeoJSON polygon geometry simplified and tiled using the geojson-vt library to ensure a responsive experience. Whilst resulting in a large initial download and requiring a mid-range PC for display this approach means data can be freely provided on static hosting with very little pre-upload processing required. Fire data can thus easily be updated as new incidents occur.</p><p> To allow responsive filtering of the over 5500 fire features an index system is implemented, using indices calculated both when data is loaded and on the fly in response to interface changes. The unique IDs given features within the fire GeoJSON are assigned to their leaflet layer representation. Lists of IDs of all features returning true when toggles are set to true are created on data load using a combination of the filter and map functions. Similar lists are created on the fly based on the status of range inputs. Intersect, union and difference functions are implemented using the Set data type allowing fast comparisons between filter results, visible, and not visible features to determine specific features to be shown or hidden.</p><p> This index system is utilised to provide a time series animation and a range of dual handle slider and checkbox interface elements allowing comprehensive data exploration based on event type, size, season, and year. When data is filtered by individual decade a textual historic summary of the decade is also displayed. The visualisation performs well on mid to high end desktop computers and thus demonstrates the potential client-side web technology has for providing comprehensive and accessible data exploration.</p>
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Wadley, David, Jung Hoon Han, and Peter Elliott. "Regarding high voltage overhead transmission lines (HVOTLs)." Property Management 37, no. 2 (April 15, 2019): 178–96. http://dx.doi.org/10.1108/pm-04-2018-0024.
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Purpose Professionals’ market knowledge and business experience can facilitate transactions of residential property potentially impacted by stigmatised installations, such as large-scale public infrastructure. The purpose of this paper is to explore perceptions and assessments among homeowners, valuers (appraisers) and real estate agents (realtors) regarding infrastructure in general and high voltage overhead transmission lines (HVOTLs) in particular. Design/methodology/approach Informed by a literature review, separate surveys in Queensland, Australia, analyse via non-parametric and parametric means informational and perceptual variables concerning HVOTLs among 600 homeowners, 90 valuers and 90 real estate agents. Findings The findings reveal statistically significant differences in risk and valuation perceptions of homeowners, valuers and real estate agents relating to the placement of major linear forms of infrastructure. Research limitations/implications This study adds to a now-solid body of literature pertaining to property effects of HVOTLs. It extends the analysis among classes of real estate professionals and provides new comparisons for further analysis and commentary. Practical implications The results speak to property professionals, land use planning and electricity authorities. Prior research can be triangulated with that obtained here from valuers and real estate agents who act as informants, gatekeepers and confidants in the market place. Various hypotheses address specific points of professional practice. Social implications This study shows that property professionals’ disposition to HVOTLs and other large-scale infrastructure is likely to be a good deal more measured than that of homeowners, so that valuers and real estate agents might exercise a mediating influence in placement and installations decisions. Originality/value This research raises understanding of differences in market knowledge and perception of essential infrastructure among clients and property agents. As a point of difference, it concentrates on examining empirically what texts refer to as “information asymmetry” in residential real estate markets.
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Bereza, Arkadiusz. "Glosa do wyroku Sądu Apelacyjnego we Wrocławiu z dnia 29 października 2019 r. (I ACa 698/19, niepublikowany)." Studia Iuridica Lublinensia 29, no. 1 (March 29, 2020): 245. http://dx.doi.org/10.17951/sil.2020.29.1.245-259.
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<p>The Court of Appeal in Wrocław, in its judgement of 29 October 2019 (I ACa 698/19) amending the judgement of the District Court of Wrocław of 28 February 2019 (I C733/18), declared invalid the acquisition of a real property by a South Korean citizen. In its judgement, the Court of Appeal in Wrocław interpreted Article 8 (2) of the Act of 24 March 1920 on the Acquisition of Real Property by Foreigners. This provision governs the subjective scope of the exemption from the obligation to obtain the authorisation from the minister competent for interior affairs for the acquisition of real property. The Court of Appeal has concluded that a natural person who is a foreign person within the meaning of the Act on the Acquisition of Real Property by Foreigners and who is not a citizen of the European Economic Area Member State or the Swiss Confederation, even though pursues individual economic activity in the territory of the Republic of Poland, shall not be entitled to the exemption provided for in Article 8 (2) of the Act on the Acquisition of Real Property by Foreigners concerning nationals and undertakings of the Member States of the European Economic Area agreement or the Swiss Confederation, as this would be contrary to the function of the Act on the Acquisition of Real Property by Foreigners and the systemic and teleological interpretation of Article 8 (2) of this Act.</p>
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Du Preez, H., and A. E. Klein. "The value-added tax implications of the temporary change in use adjustments by residential property developers: an international comparative study." Southern African Business Review 18, no. 3 (January 29, 2019): 46–65. http://dx.doi.org/10.25159/1998-8125/5685.
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Residential property developers sometimes struggle to dispose of newly built residential premises, because of an oversupply of residential property in the market and decreased sales in recent years. Many developers have switched from speculation (when residential properties are built to be sold) to investment (when properties are retained to generate rental income). Some developers only lease out newly constructed dwellings temporarily in anticipation of selling them later at a more favourable price. Units may be held with the ultimate goal of selling them, creating taxable supplies. In South Africa, these changes in the use of residential property have value-added tax (VAT) consequences that result in a negative cash flow. In the 2010 Budget Speech, amendments to the harsh VAT legislation were proposed. 6This study examined the South African VAT legislation applicable to property developers during the period when residential properties are let out. The findings suggest that the current South African VAT legislation relevant to changes in the use of residential properties is harsher than that in New Zealand or Australia, but that the proposed amendments offer some degree of relief. However, even with these amendments, there is insufficient relief, and another possible solution is proposed.
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Johnston, PW, PR Tannock, and IF Beale. "Objective `Safe' Grazing Capacities for South-West Queensland Australia: Model Application and Evaluation." Rangeland Journal 18, no. 2 (1996): 259. http://dx.doi.org/10.1071/rj9960259.
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This paper describes the employment of two experienced graziers as consultants to apply and evaluate a model for calculating 'safe' long-term grazing capacities of individual properties. The model was based on ecological principles and entailed estimates of average annual forage grown (kglha) on the different land systems on each property and the calculation of the number of livestock (dry sheep equivalents, DSE) required to 'safely' utilise this forage. The grazier consultants applied and evaluated the 'safe' grazing capacity model on 20 properties of their choosing. For evaluation, model results were compared with; (a) the Department of Lands rated carrying capacities for those properties and (b) the grazing capacity assessed independently by the owners of those properties. For the 20 properties, the average 'safe' grazing capacity calculated by the model (21.0 DSE/kmZ) was 8% lighter than the average of the owner assessed capacities (22.7 DSE/kmZ), which in tum was 37% lighter than the average of the pre-1989 Department of Lands rated carrying capacity (31.0 DSE/kmZ). The grazing land management and administrative implications of these results and the role graziers played as consultants are discussed.
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Nsibande, Mduduzi, and Douw Gert Brand Boshoff. "An investigation into the investment decision-making practices of South African institutional investors." Property Management 35, no. 1 (February 20, 2017): 67–88. http://dx.doi.org/10.1108/pm-09-2015-0050.
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Purpose The South African listed property market has changed its legal basis from property loan stock companies and property unit trusts to adopt the more familiar international structure, real estate investment trusts. The main distinction is how shareholding is structured and investment returns are paid out to shareholders, which results in a different tax treatment. It is hoped that this change would attract more foreign investment, but it is questionable if this is sufficient to convince global investors who, amidst a seeming worsening of the stability in the political and economic environment, would probably need more insight into aspects such as investment decision making within these South African organisations. The paper aims to discuss these issues. Design/methodology/approach Using a balanced scorecard (BSC) framework, this study investigates the relevance of investment decision-making frameworks in South Africa. A survey using a sample of institutional investors that are included in the South African Property Market Index was conducted. Findings The study found similarities in decision-making priorities of South African institutional investors to those of previous studies. With the focus on retail property, tenant mix and secondary to that, quality of the centre management team is found to be important for forecasting expected returns in a retail investment decision environment. Diversification strategies were found to have similar results to previous studies, leaning more towards geographic location than economic location. Further, the study suggested the use of a BSC framework, linking the financial information and different financial ratios to nonfinancial aspects that need specific consideration in a retail investment environment. Research limitations/implications Retail property is considered to be of particular concern due to the business enterprise value that could be created if superior management techniques are applied. The investment decision stage concerned with forecasting expected returns relies on financial and quantitative models such as those derived from Modern Portfolio Theory. In a shopping mall environment, however, future performance is driven by nonfinancial factors, for example, tenant mix and superior customer experience. Therefore, forecasting expected returns in a retail environment requires a nuanced approach relative to other commercial property sectors. Originality/value The paper is considered to be original in its analysis of the retail real estate market in South Africa. This offers new insight into retail properties specifically, but also how investors in South Africa react to decision-making practices. This adds value in the internationalisation of the property market and the consistency and transparent practices applied globally.
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Koval, Natalia, Natalia Priamuhina, and Inna Zhmurko. "ANALYSIS OF ECONOMIC-FINANCIAL EXPERIENCE OF THE WORLD COUNTRIES IN THE SYSTEM OF PENSION INSURANCE." Baltic Journal of Economic Studies 6, no. 1 (March 16, 2020): 1. http://dx.doi.org/10.30525/2256-0742/2020-6-1-1-8.
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The purpose of this article is to analyze the experience of pension insurance systems in Europe, Asia, North and South America, Australia. The defining feature is that the existing pension insurance system in Ukraine does not perform its main task properly, since the rate of pension, for the most part, does not make it possible to maintain a decent standard of living for current pensioners. After analyzing the implementation of the pension reform in Ukraine, it should be emphasized that during the twelve-year period after the pension reform in the country there remain a number of unresolved issues regarding the pension provision of citizens, namely: aging of the population, which is one of the main factors that prompt the government to a new stage of reforming the pension system; the presence of arrears on contributions to compulsory state pension insurance; lack of proper differentiation of pension payments; shadow wages; lack of sound financial instruments for investing pension assets; unsatisfactory level of legal and financial awareness of the population in matters of pension provision; lack of interest of employers in financing non-state pension programs for employees, lack of confidence in the pension system of non-state pension funds. Methods. In most countries of the world, the problems of the pension system, same to what we have in our country, arose. But due to pension reform, they achieved successful results. Each country chose its own way of building a pension system based on its own demographic and socioeconomic features. However, despite this, the main task of any pension system is to secure from poverty and provide a pension that could guarantee a decent standard of living for a pensioner. Results. Ukraine is trying to build the pension insurance system, drawing on the best practice of the countries studied. Practical implications. It is found that the most effective and successful model of the pension system is considered to be Chilean, since the country has been using cumulative and voluntary pension systems for a long time, which are priority and allow to resolve the pension of their citizens financially, prudent and efficient investing of pension funds with lower rates of public investment income. The same model was taken as the basis in Peru, Argentina, Colombia and Kazakhstan. Value/originality. Analyzing the pension reforms implemented in Eastern Europe, it should be noted that part of the changes was due to the need to protect pensioners from poverty in the context of a sharp decrease in the rate of pensions because of the reduction of total pension contributions and the inability of the state to finance previous pension obligations. The real way to reduce the financial burden on employers and the state in the context of a solidarity pension system was to develop levels II and III of the pension system. It is noteworthy to study the foreign experience of the Eastern European country, such as Poland, which was one of the first to introduce a compulsory funded pension system.
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Kim, Jasper, and Hannah Jun. "An Interdisciplinary Assessment of South Korea's Post-2002 Real Estate Anti-Speculation Policies." International Studies Review 12, no. 1 (October 15, 2011): 105–17. http://dx.doi.org/10.1163/2667078x-01201005.
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What factors fuelled the South Korean property boom since 2002, and whar (if anything) can be done to prevent a U.S.-style subprime crisis in the local real estate markers? This issue has grown even more urgent given observations of a potential bubble and burst scenario following the U.S. sub-prime crisis. This paper aims to bring together these concerns, from an interdisciplinary regulatory, economic and socio-cultural per-spective, by (1) providing a comprehensive and current overview of housing market dynamics in Korea, (2) examining South Korea's real estate regulatory policies since 2002 with-statistical evidence from the Bank of Korea (BOK), and (3) providinga brief policy implication and suggestion sectionre-garding the Korean housing marker conditions in the post-subprime crisis era.
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Mintah, Kwabena, David Higgins, and Judith Callanan. "A real option approach for the valuation of switching output flexibility in residential property investment." Journal of Financial Management of Property and Construction 23, no. 2 (August 6, 2018): 133–51. http://dx.doi.org/10.1108/jfmpc-05-2017-0017.
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Purpose Uncertainties in residential property investment performance require that real estate assets are designed in a flexible manner to respond to impacts of market dynamics. Though estimating the cost of flexibility is straightforward, assessing the economic value of flexibility is not. The purpose of this study is to explore the potential practical application of real option analysis to determine the economic value of a switching output flexibility embedded in a residential property investment in Australia. The study involves the exploration of an optimal strategy for investment in a residential development through real option analysis and valuation of a mixed use investment. Design/methodology/approach The real option valuation model developed by McDonald and Siegel (1986) is adopted for the evaluation because the switching output flexibility is likened to a perpetual American call option with dividend payout. Findings Through real option analysis, the economic value of switching output flexibility of the mixed use building was determined to be higher than the initial upfront costs. Moreover, a payoff of about $4million was determined to be the value of the switching output flexibility, therefore justifying upfront investments in flexibility as an uncertainty and risk management tool. Practical implications This application is an important demonstration of the practical use of options pricing techniques (real options analysis) and delivers further evidence needed to support the adoption of real option valuation in practice. Flexibility can also enhance risks and uncertainty management in residential property investment better than the adjustment of discount rates. Originality/value There is limited evidence on the use of real options techniques for the valuation of switching output flexibility in practice, and this comes as an original application; both the case study and data are all initial applications of switching flexibility in the Australian property market.
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Miller, Ben P., Neal J. Enright, and Byron B. Lamont. "Record error and range contraction, real and imagined, in the restricted shrubBanksia hookerianain south-western Australia." Diversity and Distributions 13, no. 4 (March 19, 2007): 406–17. http://dx.doi.org/10.1111/j.1472-4642.2007.00348.x.
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Schutte, PJW. "Behoort die saaklike ooreenkoms aan vormvereistes onderwerp te word?" Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 11, no. 3 (June 26, 2017): 137. http://dx.doi.org/10.17159/1727-3781/2008/v11i3a2771.
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No formalities are required in South African law in respect of the real agreement relating to the transfer of ownership in immovable property. The agreement is, for example, derived from surrounding circumstances, such as the fact that the parties concluded an obligatory agreement which is aimed at the transfer of property, or the fact that the transferor has signed a power of attorney, or the fact that the transferee has paid transfer duty. However, this circumstantial evidence is not conclusive proof that an agreement to transfer property has in fact been concluded. The transferor might have signed the power of attorney, for example, while he was erroneously under the impression that he was signing an option, or the transferee might refuse to take delivery because the property does not correspond to the thing agreed upon. In each situation neither of the parties has the intention to transfer property, and ownership could therefore not be transferred. Yet registration is possible even in the absence of a valid real agreement. This may result in an incorrect register because the person who is indicated as the owner is in fact not. It therefore appears that there is a deficiency in South African law with regard to land registration and a need for greater certainty regarding the question as to whether or not a real agreement has in fact been concluded. In this paper two solutions are explored: (1) the defect can be rectified by requiring the parties to appear (either in person or by a representative) before a conveyancer and to declare that they respectively intend to transfer and obtain property, as is the case in the Netherlands and Germany. The conveyancer should reduce the agreement to writing and the document by which the parties are bound should then be lodged with the registrar as proof of the real agreement; (2) the real agreement may be incorporated into the deed of transfer. Any one of these proposals will remove any doubt regarding the existence of the real agreement and will ensure that the register reflects the true legal position.