An assessment of development funding for new housing post GFC in Queensland, Australia

Purpose: The purpose of this paper is to identify changes in bank lending criteria due to the GFC and to explore the associated impacts on new housing supply in Queensland, Australia. Design/methodology/approach: This research involves a survey of each of Australia’s big four banks, as well as two prominent arrangers of development finance. Data on key lending criteria was collected: Pre GFC, during the GFC, and GFC recovery stage. Findings: The GFC has resulted in a retraction of funds available for residential development. The few institutions lending are filtering out only the best credit risks by way of constrictive loan covenants including: low loan to value ratios, high cash equity requirements, regional “no go” zones, and demonstrated borrower track record. The ability of developers to proceed with new housing developments is being constrained by their inability to obtain sufficient finance. Research limitations/implications: This research uses survey data, together with an understanding of the project finance process to extrapolate impacts on the residential development industry across Queensland. No regional or sub-market analysis is included. Future research will include subsequent surveys to track any loosening of credit policies over time and sub-market sector analysis. Practical implications: The inability to obtain project finance is identified as a key constraint to new housing supply. This research will inform policy makers and provide important quantitative evidence of the importance of availability of development finance in the housing supply chain. Social implications: Queensland is facing a supply shortfall, which if not corrected, may lead to upward pressure on house prices and falling housing affordability. Originality/value: There is very little academic research on development funding. This research is unique in linking bank lending criteria to new housing supply and demonstrating the impact on the development industry.

An analysis of NSW rural property market : 1990-2010

Rural property in Australia has seen significant market resurgence over the past 3 years, with improved seasonal conditions in a number of states, improved commodity prices and a greater interest and purchase of rural land by major international corporations and investment institutions. Much of this change in perspective in relation to rural property as an asset class can be linked to the food shortage of 2007 and the subsequent interest by many countries in respect to food security. This paper will address the total and capital return performance of a major agricultural area and compare these returns on the basis of both location of land and land use. The comparison will be used to determine if location or actual land use has a greater influence on rural property capital and income returns. This performance analysis is based on over 40,000 rural sales transactions. These transactions cover all market based rural property transactions in New South Wales, Australia for the period January 1990 to December 2010. Correlation analysis and investment performance analysis has also been carried out to determine the possible relationships between location and land use and subsequent changes in rural land capital values.

Wayfinding : a simple concept, a complex process

Wayfinding is the process of finding your way to a destination in a familiar or unfamiliar setting using any cues given by the environment. Due to its ubiquity in everyday life, wayfinding appears on the surface to be a simply characterised and understood process, however this very ubiquity and the resulting need to refine and optimise wayfinding has lead to a great number of studies that have revealed that it is in fact a deeply complex exercise. In this paper we examine the motivations for investigating wayfinding, with particular attention being paid to the unique challenges faced in transportation hubs, and discuss the associated principles and factors involved as they have been perceived from different research perspectives.We also review the approaches used to date in the modelling of wayfinding in various contexts. We attempt to draw together the different perspectives applied to wayfinding and postulate the importance of wayfinding and the need to understand this seemingly simple, but concurrently complex, process.

Residential property investment : assessing home ownership long term viability

Home purchase and ownership is seen by the majority of Australians as the basis for a sound investment strategy and to seciure their long term retirement goals. Although home ownership rates in Australia are in excess of 65% of the population, there have been doubts raised as to the effectiveness of purchasing a house as the main source of retirement income. The main issue with this approach is that the house has to be sold to gain access to these funds or the owners have to take out a reverse mortgage to access the capital tied up in their home, which can be more expensive than selling. This paper will carryout a detailed analysis of a number of investment options to determine the effectiveness of home purchase as a long term investment vehicle. This study has found that the long term investment in equities or managed superannuation funds can provide a greater retirement income than the purchase of a residential property for owner occupation

Training opportunities in public art

Craft practitioners and designers have been involved in the production of civic art commissions for many centuries, either as recognised art workers or anonymous artisans. However, it has only been in the last couple of decades that Australia has formally acknowledged the role of public art through the development of government policy and professional accredited training

Deriving construction features from an IFC model

In recent years, there has been a growing interest from the design and construction community to adopt Building Information Models (BIM). BIM provides semantically-rich information models that explicitly represent both 3D geometric information (e.g., component dimensions), along with non-geometric properties (e.g., material properties). While the richness of design information offered by BIM is evident, there are still tremendous challenges in getting construction-specific information out of BIM, limiting the usability of these models for construction. In this paper, we describe our approach for extracting construction-specific design conditions from a BIM model based on user-defined queries. This approach leverages an ontology of features we are developing to formalize the design conditions that affect construction. Our current implementation analyzes the component geometry and topological relationships between components in a BIM model represented using the Industry Foundation Classes (IFC) to identify construction features. We describe the reasoning process implemented to extract these construction features, and provide a critique of the IFC’s to support the querying process. We use examples from two case studies to illustrate the construction features, the querying process, and the challenges involved in deriving construction features from an IFC model.

An integrated framework for assessing community resilience in disaster management

Climate change is predicted to increase the frequency and severity of extreme weather events which pose significant challenges to the ability of government and other relief agencies to plan for, cope with and respond to disasters. Consequently, it is important that communities in climate sensitive and potential disaster prone areas strengthen their resilience to natural disasters in order to expeditiously recover from potential disruptions and damage caused by disasters. Building self reliance and, particularly in the immediate aftermath of a disaster, can facilitate short-term and long-term community recovery. To build stronger and more resilient communities, it is essential to have a better understanding of their current resilience capabilities by assessing areas of strength, risks and vulnerabilities so that their strengths can be enhanced and the risks and vulnerability can be appropriately addressed and mitigated through capacity building programs. While a number of conceptual frameworks currently exist to assess the resilience level of communities to disasters, they have tended to differ on their emphasis, scope and definition of what constitutes community resilience and how community resilience can be most effectively and accurately assessed. These limitations are attributed to the common approach of viewing community resilience through a mono-disciplinary lens. To overcome this, this paper proposes an integrated conceptual framework that takes into account the complex interplay of environmental, social, governance, infrastructure and economic attributes associated with community resilience. The framework can be operationalised using a range of resilience indicators to suit the nature of a disaster and the specific characteristics of a study region.

Factors influencing sustainability outcomes of housing in subtropical Australia

Purpose: The challenges of providing housing that sustains its inhabitants socially, economically and environmentally, and is inherently sustainable for the planet as a whole, requires a holistic systems approach that considers the product, the supply chain and the market, as well as the inter-dependencies within and between each of these process points. The purpose of the research is to identify factors that impact the sustainability performance outcomes of residential dwellings and the diffusion of sustainable housing into the mainstream housing market. Design/methodology/approach: This research represents a snapshot in time: a recording of the experiences of seven Australian families who are “early adopters” of leading edge sustainable homes within a specific sustainable urban development in subtropical Queensland. The research adopts a qualitative approach to compare the goals and expectations of these families with the actual sustainability aspects incorporated into their homes and lifestyles. Findings: The results show that the “product” – a sustainable house – is difficult to define; that sustainability outcomes were strongly influenced by individual concerns and the contextual urban environment; and that economic comparisons with “standard” housing are challenging. Research limitations/implications: This qualitative study is based on seven families (13 individuals) in an Ecovillage in southeast Queensland. Although the findings make a significant contribution to knowledge, they may not be generalisable to the wider population. Originality/value: The experiences of these early adopter families suggest that the housing market and regulators play critical roles, through actions and language, in limiting or enhancing the diffusion of sustainable housing into the market.

The voices of the exegesis : Composing the speech genres of the practitioner-researcher into a connective thesis

Postgraduate candidates in the creative arts encounter unique challenges when writing an exegesis (the written document that accompanies creative work as a thesis). As a practitioner-researcher, they must adopt a dual perspective–looking out towards an established field of research, exemplars and theories, as well as inwards towards their experiential creative processes and practice. This dual orientation provides clear benefits, for it enables them to situate the research within its field and make objective claims for the research methodologies and outcomes while maintaining an intimate, voiced relationship with the practice. However, a dual orientation introduces considerable complexities in the writing. It requires a reconciliation of multi-perspectival subject positions: the disinterested academic posture of the observer/ethnographer/analyst/theorist at times; and the invested, subjective stance the practitioner/producer at others. It requires the author to negotiate a range of writing styles and speech genres–from the formal, polemical style of the theorist to the personal, questioning and emotive voice of reflexivity. Moreover, these multi-variant orientations, subject positions, styles and voices must be integrated into a unified and coherent text. In this chapter I offer a conceptual framework and strategies for approaching this relatively new genre of thesis. I begin by summarizing the characteristics of what has begun to emerge as the predominant model of exegesis (the dual-oriented ‘Connective’ exegesis). Framing it against theoretical and philosophical understandings of polyvocality and matrixicality, I go on to point to recent textual models that provide precedents for connecting differently oriented perspectives, subjectivities and voices. I then turn to emergent archives of practice-led research to explain how the challenge of writing a ‘Connective’ exegesis has so far been resolved by higher degree research (HDR) candidates. Exemplars illustrate a range of strategies they have used to compose a multi-perspectival text, reconcile the divergent subject positions of the practitioner researcher, and harmonize the speech genres of a ployvocal text.

Spatial variation of air pollutants in a multilevel office building

Within-building spatial variability of indoor air quality may influence substantially the reliability of human exposure assessments based on single point samples, but have hitherto been little studied. To investigate and understand the within-building spatial variation of air pollutants, field measurements were conducted in a 7 level office building in Brisbane, Australia. The building consists of 3 sections (A side, Meddler and B side).

Surrogate indicators for assessing community resilience

The importance of community resilience to natural disasters is being increasingly recognised. This paper presents an approach for the development of surrogate indicators for comprehensive assessment of community resilience, which is crucial in the context of predicted increase in natural disasters resulting from extreme weather events due to climate change. The use of surrogate indicators is advocated because a comprehensive assessment of community resilience across various thematic areas and associated key areas requires the measurement of a large number of resilience indicators which is not always feasible due to time and resource constraints, To overcome this, researchers tend to use secondary data sources, which are easily available but not always reliable. This highlights the need for surrogate indicators that are easy to measure from reliable primary data sources and are adequate to capture the resilience of a community. Firstly, the paper discusses the two approaches for defining and conceptualising community resilience and the need to account for the complex interrelationships between thematic areas, key areas and resilience indicators and their implications for research. Secondly, a comprehensive framework for the assessment of community resilience is proposed and the difficulties associated with the measurement of overall resilience of the community are discussed. Thirdly, the paper explains a two-step approach to develop surrogate indicators highlighting the necessity and challenges associated with it. Finally, the proposed approach is elaborated with a simple example for better understanding.

Saudi Arabia’s sustainable housing limitations : the experts’ views

Purpose The purpose of this paper is to attempt to bridge the gap between sustainable housing and the use of smart technologies to improve the level of sustainability in the housing construction in Saudi Arabia, by discussing the barriers and enablers concerned with applying sustainability to housing construction in Saudi Arabia, which utilises smart technologies. Design/methodology/approach A Delphi method survey was employed, for which 25 individuals from three key stakeholder groups of the Saudi housing sector participated. They were asked about their degree of agreement (or disagreement) about the various barriers and enablers of applying sustainability to housing construction in Saudi Arabia, which utilises smart technologies. This research paper must be considered as an indicative study of selected experts that do not represent in any way the total population of Saudi Arabia. Findings Lack of public awareness has been identified as the most significant barrier in implementing sustainable housing development in Saudi Arabia, which utilises smart technologies. Raising awareness of the public to the benefits of sustainable housing and enlightening key project stakeholders in the design of sustainable housing are both essential in order to overcome the barriers discussed in this paper. In addition, it is important to adopt smart sustainable construction methods, exemplified by but not limited to, appropriate water preservation and wastewater treatment systems that are simultaneously smart and sustainable. Research limitations/implications This particular research has dealt with only barriers and enablers in the application of sustainability to housing in Saudi Arabia, which utilises smart technologies. For a more complete understanding, there is a need for further analysis of supplementary factors. Practical implications A study such as this, which identifies and prioritises barriers and enablers, could prove useful in guiding or encouraging the relevant ministry in Saudi Arabia to develop policies founded in the implementation of sustainability to the housing sector. Originality/value This research is a preliminary investigation into the implementation of sustainable housing development as it relates to Saudi Arabia.