An evaluation of how well undergraduate property students are prepared for commencing their careers

The evolution of property education to adapt to the changing business environment requires changes to course content, methods of delivery and assessment. Many universities have a special interest in understanding how successfully students transition in and transition out of property programs. This study sought the views of final year students engaged in professional employment, employer representatives and representatives from professional associations to assess the preparedness of students to commence professional employment. The study showed that generally students possessed an appropriate level of technical and ‘soft skills’ to enter the professional realm with development required in some areas. All stakeholders agreed that the transition out of university was made more seamless through greater engagement with industry through field work and work experience from the intermediate stages of the property course.

Optical absorption and EPR studies on tenorite mineral

Optical absorption and EPR studies of the mineral tenorite, a cupric oxide, which originated from Mexico and contains 54.40 wt% of CuO. EPR spectral results indicate two Cu(II) closely interacting ions to give a d2 type structure. The calculated spin Hamiltonian at Rt and LNT are g = 2.160 and D = 125 G . The intensity of resonance line is not the same in low and high field regions. The optical absorption spectrum is due to Cu(II) which three sets of energies indicating Cu(II) in two independent tetragonal C4v symmetry, in addition to d2 structure of octahedral coordination. The octahedral and tetragonal field parameters are compared with those reported for several other copper containing minerals.

Decentred optical axes and aberrations along principal visual field meridians

Suggestions that peripheral imagery may affect the development of refractive error have led to interest in the variation in refraction and aberration across the visual field. It is shown that, if the optical system of the eye is rotationally symmetric about an optical axis which does not coincide with the visual axis, measurements of refraction and aberration made along the horizontal and vertical meridians of the visual field will show asymmetry about the visual axis. The departures from symmetry are modelled for second-order aberrations, refractive components and third-order coma. These theoretical results are compared with practical measurements from the literature. The experimental data support the concept that departures from symmetry about the visual axis in the measurements of crossed-cylinder astigmatism J45 and J180 are largely explicable in terms of a decentred optical axis. Measurements of the mean sphere M suggest, however, that the retinal curvature must differ in the horizontal and vertical meridians.

Robust video stabilisation algorithm using feature point selection and delta optical flow

In this study, the authors propose a novel video stabilisation algorithm for mobile platforms with moving objects in the scene. The quality of videos obtained from mobile platforms, such as unmanned airborne vehicles, suffers from jitter caused by several factors. In order to remove this undesired jitter, the accurate estimation of global motion is essential. However it is difficult to estimate global motions accurately from mobile platforms due to increased estimation errors and noises. Additionally, large moving objects in the video scenes contribute to the estimation errors. Currently, only very few motion estimation algorithms have been developed for video scenes collected from mobile platforms, and this paper shows that these algorithms fail when there are large moving objects in the scene. In this study, a theoretical proof is provided which demonstrates that the use of delta optical flow can improve the robustness of video stabilisation in the presence of large moving objects in the scene. The authors also propose to use sorted arrays of local motions and the selection of feature points to separate outliers from inliers. The proposed algorithm is tested over six video sequences, collected from one fixed platform, four mobile platforms and one synthetic video, of which three contain large moving objects. Experiments show our proposed algorithm performs well to all these video sequences.

Comparing "socially responsible" and "sustainable" commercial property investment

Purpose – The purpose of this paper is to set out to explore the similarities and differences between jargon used to describe future-focussed commercial building product. This is not so much an exercise in semantics as an attempt to demonstrate that responses to challenges facing the construction and property sectors may have more to do with language than is generally appreciated. Design/methodology/approach – This is a conceptual analysis which draws upon relevant literature. Findings – Social responsibility and sustainability are often held to be much the same thing, with each term presupposing the existence of the other. Clearly, however, there are incidences where sustainable commercial property investment (SCPI) may not be particularly socially responsible, despite being understood as an environmentally friendly initiative. By contrast, socially responsible assets, at least in theory, should always be more sustainable than mainstream non-ethically based investment. Put simply, the expression of social responsibility in the built environment may evoke, and thereby deliver, a more sustainable product, as defined by wider socially inclusive parameters. Practical implications – The findings show that promoting an ethic of social responsibility may well result in more SCPI. Thus, the further articulation and celebration of social responsibility concepts may well help to further advance a sustainable property investment agenda, which is arguably more concerned about demonstrability of efficiency than wider public good outcomes. Originality/value – The idea that jargon affects outcomes is not new. However, this idea has rarely, if ever, been applied to the distinctions between social responsibility and sustainability. Even a moderate re-emphasis on social responsibility in preference to sustainability may well provide significant future benefits with respect to the investment, building and refurbishment of commercial property.

Dislodgement of commercial property public debt markets : the case of U.S. and Australia

The paper investigates if there are any discernible trends in the U.S. and Australian commercial property public debt markets with the onset of the global financial crisis (GFC). Commercial mortgage-backed securities and unsecured bonds issued by real estate investment trusts for the period 2000 to Q3:2009 are reviewed. It is shown that events in the equity markets have an impact on the pricing of these two instruments. Furthermore, the impact of subdued activity in these financing instruments on the commercial property market is discussed.

Dealing with Post-GFC stress disorder : Bwembya Chikolwa quoted by Christine Retschlag for Property Australia magazine 4th March 2010

Has the GFC really changed the thinking of the property industry? Or are investment managers suffering from post-GFC stress disorder fated to repeat the mistakes of the past? Christine Retschlag reports on the mindset of the market.

Improved simultaneous computation of motion detection and optical flow for object tracking

Object tracking systems require accurate segmentation of the objects from the background for effective tracking. Motion segmentation or optical flow can be used to segment incoming images. Whilst optical flow allows multiple moving targets to be separated based on their individual velocities, optical flow techniques are prone to errors caused by changing lighting and occlusions, both common in a surveillance environment. Motion segmentation techniques are more robust to fluctuating lighting and occlusions, but don't provide information on the direction of the motion. In this paper we propose a combined motion segmentation/optical flow algorithm for use in object tracking. The proposed algorithm uses the motion segmentation results to inform the optical flow calculations and ensure that optical flow is only calculated in regions of motion, and improve the performance of the optical flow around the edge of moving objects. Optical flow is calculated at pixel resolution and tracking of flow vectors is employed to improve performance and detect discontinuities, which can indicate the location of overlaps between objects. The algorithm is evaluated by attempting to extract a moving target within the flow images, given expected horizontal and vertical movement (i.e. the algorithms intended use for object tracking). Results show that the proposed algorithm outperforms other widely used optical flow techniques for this surveillance application.

Effect of optical aberrations on the colour appearance of small lights

Purpose: Small red lights (one minute of arc or less) change colour appearance with positive defocus. We investigated the influence of longitudinal chromatic aberration and monochromatic aberrations on the colour appearance of small narrow band lights. Methods: Seven cyclopleged, trichromatic observers viewed a small light (one minute of arc, λmax = 510, 532, 550, 589, 620, 628 nm, approximately 19 per cent Weber contrast) centred within a black annulus (4.5 minutes of arc) and surrounded by a uniform white field (2,170 cd/m2). Pupil size was four millimetres. An optical trombone varied focus. Longitudinal chromatic aberration was controlled with a two component Powell achromatising lens that neutralises the eye’s chromatic aberration; a doublet that doubles and a triplet that reverses the eye’s chromatic aberration. Astigmatism and higher order monochromatic aberrations were corrected using adaptive optics. Results: Observers reported a change in appearance of the small red light (628 nm) without the Powell lens at +0.49 ± 0.21 D defocus and with the doublet at +0.62 ± 0.16 D. Appearance did not alter with the Powell lens, and five of seven observers reported the phenomenon with the triplet for negative defocus (-0.80 ± 0.47 D). Correction of aberrations did not significantly affect the magnitude at which the appearance of the red light changed (+0.44 ± 0.18 D without correction; +0.46 ± 0.16 D with correction). The change in colour appearance with defocus extended to other wavelengths (λmax = 510 to 620 nm), with directions of effects being reversed for short wavelengths relative to long wavelengths. Conclusions: Longitudinal chromatic aberrations but not monochromatic aberrations are involved in changing the appearance of small lights with defocus.

Optical absorption, infrared, Raman and EPR spectral studies on natural Iowaite mineral

Natural iowaite, magnesium–ferric oxychloride mineral having light green color originating from Australia has been characterized by EPR, optical, IR, and Raman spectroscopy. The optical spectrum exhibits a number of electronic bands due to both Fe(III) and Mn(II) ions in iowaite. From EPR studies, the g values are calculated for Fe(III) and g and A values for Mn(II). EPR and optical absorption studies confirm that Fe(III) and Mn(II) are in distorted octahedral geometry. The bands that appear both in NIR and Raman spectra are due to the overtones and combinations of water and carbonate molecules. Thus EPR, optical, and Raman spectroscopy have proven most useful for the study of the chemistry of natural iowaite and chemical changes in the mineral.

Residential property market performance in a declining market : Christchurch case study

The residential property market in New Zealand has been experiencing a boom and bubble period from 2001 through to mid 2007. Following a number of increases in the Official Cash Rate by the Reserve Bank and a decline in net migration numbers the housing market was perceived to be over-inflated and due for major correction.

Holding and opportunity cost theory in a property development context

This paper focuses on the varying approaches and methodologies adopted when the calculation of holding costs is undertaken, focusing on greenfield development. Whilst acknowledging there may be some consistency in embracing first principles relating to holding cost theory, a review of the literature reveals considerable lack of uniformity in this regard. There is even less clarity in quantitative determination, especially in Australia where there has been only limited empirical analysis undertaken. Despite a growing quantum of research undertaken in relation to various elements connected with housing affordability, the matter of holding costs has not been well addressed regardless of its part in the highly prioritised Australian Government’s housing research agenda. The end result has been a modicum of qualitative commentary relating to holding costs. There have been few attempts at finer-tuned analysis that exposes a quantified level of holding cost calculated with underlying rigour. Holding costs can take many forms, but they inevitably involve the computation of “carrying costs” of an initial outlay that has yet to fully realise its ultimate yield. Although sometimes considered a “hidden” cost, it is submitted that holding costs prospectively represent a major determinate of value. If this is the case, then considered in the context of housing affordability, it is therefore potentially pervasive.