Real estate agency practice and profitability : an analysis of house sales and agency profitability in Sydney

Large cities provide a broad range of residential property types, as well as a range of socio-economic locations. This results in a significant variation in residential property prices across both the city itself and the individual suburbs. The only constant across such a diverse range of residential property is the need for the majority of residential property owners to employ the services of a real estate agent to sell their property or to purchase a residential property. This paper will analyse the Sydney residential property market over the period 1994 to 2002 to determine the change in real estate offices numbers over the period, the profitability of real estate agency offices based on the residential house price performance of houses and units in these specific locations and the extent of changing residential house prices on agency profitability. Suburbs have been selected to provide a full range of housing types, socio-economic areas, older established and developing residential suburbs and location from the

The true cost and performance of individual residential property investment and the implication on real estate agency practice

Investment in residential property in Australia is not dominated by the major investment institutions in to the same degree as the commercial, industrial and retail property markets. As at December 2001, the Property Council of Australia Investment Performance Index contained residential property with a total value of $235 million, which represents only 0.3% of the total PCA Performance Index value. The majority of investment in the Australian residential property market is by small investment companies and individual investors. The limited exposure of residential property in the institutional investment portfolios has also limited the research that has been undertaken in relation to residential property performance. However the importance of individual investment in residential property is continuing to gain importance as both individuals are now taking control of their own superannuation portfolios and the various State Governments of Australia are decreasing their involvement in the construction of public housing by subsidizing low-income families into the private residential property market. This paper will: • Provide a comparison of the cost to initially purchase residential property in the various capital city residential property markets in Australia, and • Analyse the true cost and investment performance of residential property in the main residential property markets in Australia based on a standard investment portfolio in each of the State capital cities and relate these results to real estate marketing and agency practice.

Real Design of a Virtual Landscape : Designing and building a landscape in Second Life

3D Virtual Environments (VE) are real; they exist as digital worlds with the advantage of having none of the constraints of the real world. As such they are the perfect training ground for design students who can create, build and experiment with design solutions without the constraint of real world projects. This paper reports on an educational setting used to explore a model for using VE such as Second Life (SL) developed by Linden Labs in California, as a collaborative environment for design education. A postgraduate landscape architecture learning environment within a collaborative design unit was developed to integrate this model where the primary focus was the application of three-dimensional tools within design, not as a presentation tool, but rather as a design tool. The focus of the unit and its aims and objectives will be outlined before describing the use of SL in the unit. Attention is focused on the collaboration and learning experience before discussing the outcomes, student feedback, future projects using this model and potential for further research. The outcome of this study aims to contribute to current research on teaching and learning design in interactive VE’s. We present a case study of our first application of this model.

Virtual reality or virtually real : blended teaching and learning in a Master's level research methods class

This paper examines the enabling effect of using blended learning and synchronous internet mediated communication technologies to improve learning and develop a Sense of Community (SOC) in a group of post-graduate students consisting of a mix of on-campus and off-campus students. Both quantitative and qualitative data collected over a number of years supports the assertion that the blended learning environment enhanced both teaching and learning. The development of a SOC was pivotal to the success of the blended approach when working with geographically isolated groups within a single learning environment.

Competitiveness factors : a study of the real estate market in China

The execution of 'macro-adjustment' policies by the central government to cool down the overheated real estate market in the past few years has created an unfavourable operating environment for real estate developers in Mainland China. Developers need to rethink their business model and create a new form of competitive advantage in order to survive. Despite this, research into the factors that influence the competitiveness of the real estate market in China has been limited. Therefore, a survey of 58 real estate actitioners, experts and academics in China was conducted to probe opinion on the factors that influence competitiveness in real estate firms in China. Survey results suggest that the developer's financial competency, market coverage and management competencies are vital to its competitiveness. Findings also highlight the importance of industry ecognition/award, share in different types of property sales/development projects, profit after tax, growth rate of their securities price, and diversification of R&D in reflecting the competitiveness of real estate developers in China. The findings provide an insight into the factors that influence competitiveness in China's real estate market and also assist practitioners to formulate competitiveness improvement strategies.

Enabling authentic collaborative education in an online environment : the QUT Virtual Law Placement

This paper explores an innovative model for work-integrated learning using a virtual paradigm – The Virtual Law Placement Unit at Queensland University of Technology (QUT) Australia. It builds upon the conceptual model previously explored at WACE 2007 and provides an account of the lessons learned from the pilot offering of the unit which was conducted and evaluated in 2008. ----- The Virtual Placement Unit offers students the opportunity to complete an authentic workplace task under the guidance of a real-life workplace supervisor, where student-student communication and student-supervisor communication is all conducted virtually (and potentially asynchronously) to create an engaging but flexible learning environment using a combination of Blackboard and SharePoint technologies. This virtual experience is pioneering in the sense that it enables law students to access an unprecedented range of law graduate destination workplaces and projects, including international and social justice placements, absent the constraints traditionally associated with arranging physical placements. ----- All aspects of this unit have been designed in conjunction with community partners with a view to balancing student learning objectives with community needs through co-operative education. This paper will also explore how the implementation of the project is serving to strengthen those partnerships with the wider community, simultaneously addressing the community engagement agenda of the University and enabling students to engage meaningfully with local, national and international community partners in the real world of work.

A brush with the real world : the future of inertial motion capture in live performance

3D Motion capture is a medium that plots motion, typically human motion, converting it into a form that can be represented digitally. It is a fast evolving field and recent inertial technology may provide new artistic possibilities for its use in live performance. Although not often used in this context, motion capture has a combination of attributes that can provide unique forms of collaboration with performance arts. The inertial motion capture suit used for this study has orientation sensors placed at strategic points on the body to map body motion. Its portability, real-time performance, ease of use, and its immunity from line-of-sight problems inherent in optical systems suggest it would work well as a live performance technology. Many animation techniques can be used in real-time. This research examines a broad cross-section of these techniques using four practice-led cases to assess the suitability of inertial motion capture to live performance. Although each case explores different visual possibilities, all make use of the performativity of the medium, using either an improvisational format or interactivity among stage, audience and screen that would be difficult to emulate any other way. A real-time environment is not capable of reproducing the depth and sophistication of animation people have come to expect through media. These environments take many hours to render. In time the combination of what can be produced in real-time and the tools available in a 3D environment will no doubt create their own tree of aesthetic directions in live performance. The case study looks at the potential of interactivity that this technology offers.

Facial feature detection for in-car environment

Acoustically, vehicles are extremely noisy environments and as a consequence audio-only in-car voice recognition systems perform very poorly. Seeing that the visual modality is immune to acoustic noise, using the visual lip information from the driver is seen as a viable strategy in circumventing this problem. However, implementing such an approach requires a system being able to accurately locate and track the driver’s face and facial features in real-time. In this paper we present such an approach using the Viola-Jones algorithm. Using this system, we present our results which show that using the Viola-Jones approach is a suitable method of locating and tracking the driver’s lips despite the visual variability of illumination and head pose.

Robust real time multi-layer foreground segmentation

Many surveillance applications (object tracking, abandoned object detection) rely on detecting changes in a scene. Foreground segmentation is an effective way to extract the foreground from the scene, but these techniques cannot discriminate between objects that have temporarily stopped and those that are moving. We propose a series of modifications to an existing foreground segmentation system\cite{Butler2003} so that the foreground is further segmented into two or more layers. This yields an active layer of objects currently in motion and a passive layer of objects that have temporarily ceased motion which can itself be decomposed into multiple static layers. We also propose a variable threshold to cope with variable illumination, a feedback mechanism that allows an external process (i.e. surveillance system) to alter the motion detectors state, and a lighting compensation process and a shadow detector to reduce errors caused by lighting inconsistencies. The technique is demonstrated using outdoor surveillance footage, and is shown to be able to effectively deal with real world lighting conditions and overlapping objects.

Scene invariant crowd counting for real-time surveillance

Automated crowd counting allows excessive crowding to be detected immediately, without the need for constant human surveillance. Current crowd counting systems are location specific, and for these systems to function properly they must be trained on a large amount of data specific to the target location. As such, configuring multiple systems to use is a tedious and time consuming exercise. We propose a scene invariant crowd counting system which can easily be deployed at a different location to where it was trained. This is achieved using a global scaling factor to relate crowd sizes from one scene to another. We demonstrate that a crowd counting system trained at one viewpoint can achieve a correct classification rate of 90% at a different viewpoint.

Decomposition of aggregated load : finding induction motor fraction in real load

The main contribution of this paper is decomposition/separation of the compositie induction motors load from measurement at a system bus. In power system transmission buses load is represented by static and dynamic loads. The induction motor is considered as the main dynamic loads and in the practice for major transmission buses there will be many and various induction motors contributing. Particularly at an industrial bus most of the load is dynamic types. Rather than traing to extract models of many machines this paper seeks to identify three groups of induction motors to represent the dynamic loads. Three groups of induction motors used to characterize the load. These are the small groups (4kw to 11kw), the medium groups (15kw to 180kw) and the large groups (above 630kw). At first these groups with different percentage contribution of each group is composite. After that from the composite models, each motor percentage contribution is decomposed by using the least square algorithms. In power system commercial and the residential buses static loads percentage is higher than the dynamic loads percentage. To apply this theory to other types of buses such as residential and commerical it is good practice to represent the total load as a combination of composite motor loads, constant impedence loads and constant power loads. To validate the theory, the 24hrs of Sydney West data is decomposed according to the three groups of motor models.

The role of U.S. timberland in real estate portfolios

Timberland is seen as a long-term investment which has recently received increased institutional investor attention in many countries and potentially provides added value in a mixed-asset portfolio. Using the National Council of Real Estate Investment Fiduciaries (NCREIF) timberland series, this paper analyses the risk-adjusted performance and portfolio diversification benefits of timberland in the United States over the period of 1987-2007. U.S. timberland is seen to have been a strongly performed asset class with significant portfolio diversification benefits over this period; with a significant portfolio role separate to that of real estate. However, recent years have seen reduced risk-adjusted returns, with some loss of portfolio diversification benefits of timberland with stocks and real estate. Global drivers are likely to see increased future demand for timberland investment.

Real-time vision, tracking and control

This paper, which serves as an introduction to the mini-symposium on Real-Time Vision, Tracking and Control, provides a broad sketch of visual servoing, the application of real-time vision, tracking and control for robot guidance. It outlines the basic theoretical approaches to the problem, describes a typical architecture, and discusses major milestones, applications and the significant vision sub-problems that must be solved.

Real-time image streaming over a low-bandwidth wireless camera network

In this paper we describe the recent development of a low-bandwidth wireless camera sensor network. We propose a simple, yet effective, network architecture which allows multiple cameras to be connected to the network and synchronize their communication schedules. Image compression of greater than 90% is performed at each node running on a local DSP coprocessor, resulting in nodes using 1/8th the energy compared to streaming uncompressed images. We briefly introduce the Fleck wireless node and the DSP/camera sensor, and then outline the network architecture and compression algorithm. The system is able to stream color QVGA images over the network to a base station at up to 2 frames per second. © 2007 IEEE.

Measuring performance of municipal real estate : softening the impact of financial crisis to local governments

Asset management in local government is an emerging discipline and over a decade has become a crucial aspect towards a more efficient and effective organisation. One crucial feature in the public asset management is performance measurement toward the public real estates. This measurement critically at the important component of public wealth and seeks to apply a standard of economic efficiency and effective organisational management especially in such global financial crisis condition. This paper aims to identify global economic crisis effect and proposes alternative solution for local governments to softening the impact of the crisis to the local governments organisation. This study found that the most suitable solution for local government to solve the global economic crisis in Indonesia is application of performance measurement in its asset management. Thus, it is important to develop performance measurement system in local government asset management process. This study provides suggestions from published documents and literatures. The paper also discusses the elements of public real estate performance measurement. The measurement of performance has become an essential component of the strategic thinking of assets owners and managers. Without having a formal measurement system for performance, it is difficult to plan, control and improve local government real estate management system. A close look at best practices in public sectors reveals that in most cases these practices were transferred from private sector reals estate management under the direction of real estate experts retained by government. One of the most significant advances in government property performance measurement resulted from recognition that the methodology used by private sector, non real estate corporations for managing their real property offered a valuable prototype for local governments. In general, there are two approaches most frequently used to measure performance of public organisations. Those are subjective and objective measures. Finally, findings from this study provides useful input for the local government policy makers, scholars and asset management practitioners to establish a public real estate performance measurement system toward more efficient and effective local governments in managing their assets as well as increasing public services quality in order to soften the impact of global financial crisis.