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 impact of natural disasters on residential property markets

Over the past ten years various residential property markets throughout Australia in general and NSW in particular have been subject to substantial natural disasters. These occurrences have included floods, bushfires and hailstorms. In extreme cases the actual rectification costs have been up to AUD$1.5 billion, which occurred with the severe hailstorm in Sydney in April 1999 and cyclone Tracey in Darwin in 1974. Natural disasters such as severe storms and hailstorms have tended to be very indiscriminate in relation to frequency and the actual location of damage, whereas the nature of bushfire and flooding tends to be more defined. Although these extreme natural disasters tend to be infrequent, occurrences of floods and bushfires in residential property areas are more frequent, particularly as urban sprawl encroaches closer to national Parks, State recreation Parks and State forests. Considerable work has been carried out on flood effects on property markets by Bell (1999), Donnelly (1988), McClusky and Rausser (2001), Skrantz and Strickland (1987) in the US, and Chou and Shih (2001) in Taiwan. Fibbens (1994), Lambley and Cordery (1991) and Eves (1999, 2001, 2002) have carried out studies in relation to the effect of flooding on residential property values in the Sydney region, including the tracking of flood prone property values over time. However, no similar rigorous research has been carried out in relation to the impact of bushfires on residential property markets in the Sydney region.

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.

The explicit hazard model – part 1: theoretical development

Modern Engineering Asset Management (EAM) requires the accurate assessment of current and the prediction of future asset health condition. Appropriate mathematical models that are capable of estimating times to failures and the probability of failures in the future are essential in EAM. In most real-life situations, the lifetime of an engineering asset is influenced and/or indicated by different factors that are termed as covariates. Hazard prediction with covariates is an elemental notion in the reliability theory to estimate the tendency of an engineering asset failing instantaneously beyond the current time assumed that it has already survived up to the current time. A number of statistical covariate-based hazard models have been developed. However, none of them has explicitly incorporated both external and internal covariates into one model. This paper introduces a novel covariate-based hazard model to address this concern. This model is named as Explicit Hazard Model (EHM). Both the semi-parametric and non-parametric forms of this model are presented in the paper. The major purpose of this paper is to illustrate the theoretical development of EHM. Due to page limitation, a case study with the reliability field data is presented in the applications part of this study.

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.

Business Creation Processes in Australia : What Start-Up Attempts Get Up and Running, and Why? - A Preliminary Assessment

The Comprehensive Australian Study of Entrepreneurial Emergence (CAUSEE) is the largest study of new firm formation that has ever been undertaken in Australia. CAUSEE follows the development of several samples of new and emerging firms over time. In this report we focus on the drivers of outcomes – in terms of reaching an operational stage vs. terminating the effort – of 493 randomly selected nascent firms whose founders have been comprehensively interviewed on two occasions, 12 months apart. We investigate the outcome effects of three groups of variables: Characteristics of the Venture; Resources Used in the Start-Up Process and Characteristics of the Start-Up Process Itself.

Mining trading partners’ preferences for efficient multi-issue bargaining in E‑business

Classical negotiation models are weak in supporting real-world business negotiations because these models often assume that the preference information of each negotiator is made public. Although parametric learning methods have been proposed for acquiring the preference information of negotiation opponents, these methods suffer from the strong assumptions about the specific utility function and negotiation mechanism employed by the opponents. Consequently, it is difficult to apply these learning methods to the heterogeneous negotiation agents participating in e‑marketplaces. This paper illustrates the design, development, and evaluation of a nonparametric negotiation knowledge discovery method which is underpinned by the well-known Bayesian learning paradigm. According to our empirical testing, the novel knowledge discovery method can speed up the negotiation processes while maintaining negotiation effectiveness. To the best of our knowledge, this is the first nonparametric negotiation knowledge discovery method developed and evaluated in the context of multi-issue bargaining over e‑marketplaces.

Assessment by interview and portfolio in a Graduate School Program

Assessment plays an integral role in teaching and learning in Higher Education and teachers have a strong interest in debates and commentaries on assessment as and for learning. In a one-year graduate entry teacher preparation program, the temptation is to emphasize assessment in an attempt to ensure students “cover” everything as part of a robust preparation for the profession. The risk is that, for students, assessment drives curriculum, and time spent in the completion of assignments is no guarantee of either effective learning or authentic preparation for teaching. Interviews as assessment provide an opportunity for a learning experience as well as an authentic task, since students will shortly be interviewing for employment in a “real world” situation. This paper reports on a project experimenting with interview panels as authentic assessment with pre-service early childhood teachers. At the end of their first semester of study, students enrolled in the Graduate Diploma of Education program at the Queensland University of Technology in Australia were required to participate in a panel interview where they were graded by a panel made up of three faculty staff and one undergraduate student enrolled in the four-year Bachelor of Education program. Students and panel members completed a questionnaire on their experience after the interview. Results indicated that both students and staff valued the experience and felt it was authentic. Results are discussed in terms of how the assessment interview and portfolio presentation supports graduating students in their preparation for employment interviews, and how this authentic assessment task has benefits for both students and teaching staff.

Connecting pre-service teachers to 'real world' teaching practices through microteaching

Action research proved a useful strategy for monitoring the evolution of microteaching task as an authentic assessment for post-graduate pre-service teachers. Through four iterations of continually reflecting on the structure, purpose and outcomes of utilising microteaching as assessment, unit coordinators implemented an authentic assessment task that simulated real world experience.

A nested real-time PCR assay has an increased sensitivity suitable for detection of viruses in aerosol studies

Aims: Influenza is commonly spread by infectious aerosols; however, detection of viruses in aerosols is not sensitive enough to confirm the characteristics of virus aerosols. The aim of this study was to develop an assay for respiratory viruses sufficiently sensitive to be used in epidemiological studies. Method: A two-step, nested real-time PCR assay was developed for MS2 bacteriophage, and for influenza A and B, parainfluenza 1 and human respiratory syncytial virus. Outer primer pairs were designed to nest each existing real-time PCR assay. The sensitivities of the nested real-time PCR assays were compared to those of existing real-time PCR assays. Both assays were applied in an aerosol study to compare their detection limits in air samples. Conclusions: The nested real-time PCR assays were found to be several logs more sensitive than the real-time PCR assays, with lower levels of virus detected at lower Ct values. The nested real-time PCR assay successfully detected MS2 in air samples, whereas the real-time assay did not. Significance and Impact of the Study: The sensitive assays for respiratory viruses will permit further research using air samples from naturally generated virus aerosols. This will inform current knowledge regarding the risks associated with the spread of viruses through aerosol transmission.

Robot navigation in sensor space

This thesis investigates the problem of robot navigation using only landmark bearings. The proposed system allows a robot to move to a ground target location specified by the sensor values observed at this ground target posi- tion. The control actions are computed based on the difference between the current landmark bearings and the target landmark bearings. No Cartesian coordinates with respect to the ground are computed by the control system. The robot navigates using solely information from the bearing sensor space. Most existing robot navigation systems require a ground frame (2D Cartesian coordinate system) in order to navigate from a ground point A to a ground point B. The commonly used sensors such as laser range scanner, sonar, infrared, and vision do not directly provide the 2D ground coordi- nates of the robot. The existing systems use the sensor measurements to localise the robot with respect to a map, a set of 2D coordinates of the objects of interest. It is more natural to navigate between the points in the sensor space corresponding to A and B without requiring the Cartesian map and the localisation process. Research on animals has revealed how insects are able to exploit very limited computational and memory resources to successfully navigate to a desired destination without computing Cartesian positions. For example, a honeybee balances the left and right optical flows to navigate in a nar- row corridor. Unlike many other ants, Cataglyphis bicolor does not secrete pheromone trails in order to find its way home but instead uses the sun as a compass to keep track of its home direction vector. The home vector can be inaccurate, so the ant also uses landmark recognition. More precisely, it takes snapshots and compass headings of some landmarks. To return home, the ant tries to line up the landmarks exactly as they were before it started wandering. This thesis introduces a navigation method based on reflex actions in sensor space. The sensor vector is made of the bearings of some landmarks, and the reflex action is a gradient descent with respect to the distance in sensor space between the current sensor vector and the target sensor vec- tor. Our theoretical analysis shows that except for some fully characterized pathological cases, any point is reachable from any other point by reflex action in the bearing sensor space provided the environment contains three landmarks and is free of obstacles. The trajectories of a robot using reflex navigation, like other image- based visual control strategies, do not correspond necessarily to the shortest paths on the ground, because the sensor error is minimized, not the moving distance on the ground. However, we show that the use of a sequence of waypoints in sensor space can address this problem. In order to identify relevant waypoints, we train a Self Organising Map (SOM) from a set of observations uniformly distributed with respect to the ground. This SOM provides a sense of location to the robot, and allows a form of path planning in sensor space. The navigation proposed system is analysed theoretically, and evaluated both in simulation and with experiments on a real robot.

Corona discharges on the surfaces of high voltage composite insulators

The degradation of high voltage electrical insulation is a prime factor that can significantly influence the reliability performance and the costs of maintaining high voltage electricity networks. Little information is known about the system of localized degradation from corona discharges on the relatively new silicone rubber sheathed composite insulators that are now being widely used in high voltage applications. This current work focuses on the fundamental principles of electrical corona discharge phenomena to provide further insights to where damaging surface discharges may localize and examines how these discharges may degrade the silicone rubber material. Although water drop corona has been identified by many authors as a major cause of deterioration of silicone rubber high voltage insulation until now no thorough studies have been made of this phenomenon. Results from systematic measurements taken using modern digital instrumentation to simultaneously record the discharge current pulses and visible images associated with corona discharges from between metal electrodes, metal electrodes and water drops, and between waters drops on the surface of silicone rubber insulation, using a range of 50 Hz voltages are inter compared. Visual images of wet electrodes show how water drops can play a part in encouraging flashover, and the first reproducible visual images of water drop corona at the triple junction of water air and silicone rubber insulation are presented. A study of the atomic emission spectra of the corona produced by the discharge from its onset up to and including spark-over, using a high resolution digital spectrometer with a fiber optic probe, provides further understanding of the roles of the active species of atoms and molecules produced by the discharge that may be responsible for not only for chemical changes of insulator surfaces, but may also contribute to the degradation of the metal fittings that support the high voltage insulators. Examples of real insulators and further work specific to the electrical power industry are discussed. A new design concept to prevent/reduce the damaging effects of water drop corona is also presented.

"There's no way in hell I would pull up" : Deterrent and other effects of vehicle impoundment laws for hooning

Traffic law enforcement is based on deterrence principles, whereby drivers control their behaviour in order to avoid an undesirable sanction. For “hooning”-related driving behaviours in Queensland, the driver’s vehicle can be impounded for 48 hours, 3 months, or permanently depending on the number of previous hooning offences. It is assumed that the threat of losing something of value, their vehicle, will discourage drivers from hooning. While official data shows that the rate of repeat offending is low, an in-depth understanding of the deterrent effects of these laws should involve qualitative research with targeted drivers. A sample of 22 drivers who reported engaging in hooning behaviours participated in focus group discussions about the vehicle impoundment laws as applied to hooning offences in Queensland. The findings suggested that deterrence theory alone cannot fully explain hooning behaviour, as participants reported hooning frequently, and intended to continue doing so, despite reporting that it is likely that they will be caught, and perceiving the vehicle impoundment laws to be extremely severe. The punishment avoidance aspect of deterrence theory appears important, as well as factors over and above legal issues, particularly social influences. A concerning finding was drivers’ willingness to flee from police in order to avoid losing their vehicle permanently for a third offence, despite acknowledging risks to their own safety and that of others. This paper discusses the study findings in terms of the implications for future research directions, enforcement practices and policy development for hooning and other traffic offences for which vehicle impoundment is applied.