Identifying linkages between generations and the property market : the effect on residential and retail property

In the analysis of property markets, especially the retail and residential sectors, increasing importance is being given to the role of demography. The impact of economic influences such as interest rate movements, inflation and changes in the labour market are well documented and although these variables are clearly important. they do not incorporate the changing characteristics of the local inhabitants who actually generate the demand. However, demography can provide an invaluable insight into retail and residential property trends, especially over the long term, and are assisted by reliable population datasets with a relatively high level of detail. For example, the emergence of the 'baby boom' generation and the trend towards geographical relocation had a substantial effect on demand for retail and housing products, although little consideration has been given to the effect from the subsequent cohorts, namely generations X,Y and Z. This paper examines the role of demography when researching property markets, with the focus placed on demographic shifts. It discusses trends in arange of demographic variables that have been observed in society. In addition, it highlights linkages with property markets, especially residential and retail property, and draws inferences for long term trends.The study concludes that when conducting research into property markets. it is essential to have a thorough understanding of various demographic variables to predict how they affect demand. An appreciation of the drivers behind generations will assist property researchers to identify future needs, and the subsequent effect this will have on community development involving retail and residential property.

Identifying linkages between generations and community development: the effect on residential and retail property

In the analysis of property markets, especially the retail and residential sectors, increasing importance is being given to the role of demography. The impact of economic influences such as interest rate movements, inflation and changes in the labour market are well documented and although these variables are clearly important, they do not incorporate the changing characteristics of the local inhabitants who actually provide the demand. However, demography can provide an invaluable insight into retail and residential property trends, especially over the long term, and are assisted by reliable population datasets with a relatively high level of detail. For example, the emergence of the 'baby boom' generation shift had a substantial effect on demand for retail and housing products, although little consideration has been given to the effect from the subsequent cohorts, namely generations X, Y and Z.

This paper examines the role of demography when researching property markets, with the focus placed on demographic shifts. It discusses trends in a range of demographic variables that have been observed in society. In addition, it highlights linkages with property markets, especially residential and retail property, and draws inferences for long term trends. The study concludes that when conducting research into property markets, it is essential to have a thorough understanding of various demographic variables to predict how they affect demand. An appreciation of the drivers behind generations will assist property researchers to identify future needs, and the subsequent effect this will have on community development involving retail and residential property.

Modelling greenhouse gas emissions for Australian residential building construction

International pressure to reduce greenhouse gas emissions has forced many countries to look beyond 'demand side' measures. Several industry sectors are examining indirect requirements for energy and other resources that involve significant greenhouse gas emissions. The operation of buildings is responsible for approximately one quarter of greenhouse gas emissions in Australia. Moreover, he construction process consumes vast quantities of raw materials and complex goods and services each year. Each of the processes required for the provision of these products requires energy, and most of this is fossil fuel based. A national model of greenhouse gas emissions is required for residential building construction, to indicate where emissions reduction strategies should focus. A disaggregated input-output model is developed for the Australian residential building construction sector, and recommendations are made about how this model can be used in the development of policies of emissions mitigation for both the sector and individual residential buildings.

Understanding cange in residential property markets: Mapping residency of employment data

The changing nature of residential housing markets is due to a large number of influences, although some have a larger effect than others do on house values. Whilst it is extremely difficult to completely disaggregate all influencing factors, it is possible to highlight areas that have a strong relationship with property – one of these is residency of employment. This research investigates these links between residential housing markets as measured by the level of house prices and residency of employment as measured by industry sector employment. It focuses on Local Government Areas in the State of Victoria, Australia and examines change over a ten year period between 1991 and 2001 using census and house price information. It is supported by data sourced from the Australian Bureau of Statistics and the Victorian Government’s Valuer General’s Office. The analysis also considers changes in these employment sectors from Australia’s overall perspective, as well as comparison with changes in Victoria’s overall residency of employment trends. It is assisted by a spatial representation of three 'shift-share' components and property values with the support of a geographical information system (GIS).

Investigating residential property markets using employment data

The changing nature of residential housing markets is due to a large number of influences, although some factors have a larger effect than others on house values. Whilst it is extremely difficult to completely disaggregate all influencing factors, it is possible to highlight areas that have a strong relationship with property – one of these is employment. Due to the growing importance between housing affordability and the capacity to meet the cost of living the form of regular mortgage repayments or rent, there are clear links between the cost of housing and the ability to pay for the housing product.

The research investigates the links between residential housing markets as measured by the level of house prices and employment as measured by industry sector employment. It focuses on Local Government Areas in the State of Victoria, Australia and examines change over a ten year period between 1991 and 2001 using census and house price information. It is supported by data sourced from the Australian Bureau of Statistics and the Victorian Government’s Valuer General’s Office. The analysis also considers changes in these employment sectors from Australia’s overall perspective, as well as comparison with changes in Victoria’s overall employment trends. It is assisted by a spatial representation of three shiftshare components and property values with the assistance of a geographical information system (GIS).

Understanding property cycles in a residential market

Purpose – This paper aims to review property cycle theory and the relevance of the larger body of knowledge about cycles with reference to the housing market. It also aims to highlight the lack of research into property cycles in the residential sector on a suburb or smaller region basis, as well as the potential for increased knowledge about cycles to assist to avoid housing stress.

Design/methodology/approach – The paper conducts a literature review of previous cycle research and encourages the use of cycle theory. It discusses the established body of knowledge about business cycles and the office market sector, as well as investigating levels of housing affordability and how detailed knowledge about property cycles can assist to decrease housing affordability in residential areas, which will eventually experience a downturn.

Findings – It is argued that an increased level of certainty about cycle behaviour in particular suburbs will give households a higher level of confidence when considering whether and when to enter the market. Property cycle research has the potential to assist low-income homeowners to better understand the characteristics of cycles and associated risks in each residential.

Research limitations/implications – This is a conceptual paper and has conducted a review of cycle research and housing affordability in certain countries. Some areas or countries may be affected to varying degrees by property cycles and levels of housing affordability.

Practical implications – In extended periods of high volatility it is argued that a better understanding of housing cycles will allow more homeowners to avoid negative equity and the stress associated with repossessions. Property cycles are unavoidable although there is typically relatively little information available in the open market about the timing and amplitude of cycles in individual areas.

Originality/value – This paper is unique as it highlights the potential for property cycles to be used to avoid housing stress in the residential market. Traditionally cycle research is used to increase returns and avoid downturns in the office and/or business sectors.

Using national input-output data for embodied energy analysis of individual residential buildings

Embodied energy (EE) analysis has become an important area of energy research, in attempting to trace the direct and indirect energy requirements of products and services throughout their supply chain. Typically, input-output (I-O) models have been used to calculate EE because they are considered to be comprehensive in their analysis. However, a major deficiency of using I-O models is that they have inherent errors and therefore cannot be reliably applied to individual cases. Thus, there is a need for the ability to disaggregate an I-O model into its most important 'energy paths', for the purpose of integrating case-specific data. This paper presents a new hybrid method for conducting EE analyses for individual buildings, which retains the completeness of the I-O model. This new method is demonstrated by application to an Australian residential building. Only 52% of the energy paths derived from the I-O model were substituted using case-specific data. This indicates that previous system boundaries for EE studies of individual residential buildings are less than optimal. It is envisaged that the proposed method will provide construction professionals with more accurate and reliable data for conducting life cycle energy analysis of buildings. Furthermore, by analysing the unmodified energy paths, further data collection can be prioritized effectively.

Net Energy Analysis of Double Glazing for Residential Buildings in Temperate Climates

Energy used in buildings is a major contributor to Australia’s energy consumption and associated environmental impacts. The advent of complex glazing systems such as double glazing, particularly in northern America and Europe, has partially closed a weak thermal link in the building envelope. In milder climates, however, building envelope features may not be as effective in life cycle energy terms, i.e. including the embodied energy of their manufacture. A net energy analysis compares the savings in operational energy to the additional requirements for embodied energy, in terms of the energy payback period and energy return on investment. The effectiveness of double glazing is determined for an Australian residential building. A wide range of building operation regimes was simulated. These results support the principle of installing double glazing in residential buildings in Melbourne, Australia, at least in terms of net primary energy savings.

Unsafe leased residential premises: a landlord's liability in negligence to injured occupants

This article examines the law relating to the liability of landlords in negligence for unsafe residential premises, focusing in particular on the recent High Court decisions in Northern Sandblasting Pty Ltd v Harris and Jones v Bartlett. The author concludes that the High Court in Jones v Bartlett has placed sensible limitations on landlords' liability, by limiting liability to defects in the premises that were known or ought to have been revealed on a reasonable inspection by the landlord. The author points out that there are compelling policy considerations supporting the court's conclusion in that case that the landlord should not be required to arrange for the premises to be inspected by expert tradespeople.

An analysis of factors influencing waste minimisation and use of recycled materials for the construction of residential buildings

Residential building construction activities, whether it is new build, repair or maintenance, consumes a large amount of natural resources. This has a negative impact on the environment in the form depleting natural resources, increasing waste production and pollution. Previous research has identified the benefits of preventing or reducing material waste, mainly in terms of the limited available space for waste disposal, and escalating costs associated with landfills, waste management and disposal and their impact on a  building company's profitability. There has however been little development internationally of innovative waste management strategies aimed at reducing the resource requirement of the construction process. The authors contend that embodied energy is a useful indicator of resource value. Using data provided by a regional high-volume residential builder in the State of Victoria, Australia, this paper identifies the various types of waste that are generated from the construction of a typical standard house. It was found that in this particular case, wasted amounts of materials were less than those found previously by others for cases in capital cities (5-10 per cent), suggesting that waste minimisation strategies are successfully being implemented. Cost and embodied energy savings from using materials with recycled content are potentially more beneficial in terms of embodied energy and resource depletion than waste minimisation strategies.

Estimating demolition costs for single residential buildings

With the increasing stock of aging structures, building
demolition is becoming achallenging research field from
the perspective of management. As the converse of
construction, management of demolition puts forward some
new management themes or adds some new contents
even though the same issues are faced in construction
management. This research aims to develop a quantitative
approach to estimate the costs of a demolition project. A
cost analysis method is presented to systematically break
down the cost components involved in the demolition of
a structure. Due to the lack of robust research in theory
and systematic summary in practice to date, the economic
performances of demolition will be studied through acase
study, and the majority of parameters are derived from
actual experiences in practice. The proposed demolition cost
estimation method is applied to the actual form of building
elimination (Scenario 1), and further comparison is carried
out with two other elimination methods, which are the newly
developed deconstruction (Scenario 2) and mechanical
demolition (Scenario 3). Deconstruction is found to be the
most profitable in this particular instance, and is closely
followed by the actual form.

Energy, protein, calcium, vitamin D and fibre intakes from meals in residential care establishments in Australia

Residents from high level (nursing homes) and low-level care facilities (hostel) being served the three common diet texture modifications (full diet, soft-minced diet and pureed diet) were assessed. Individual plate waste was estimated at three meals on one day. Fifty-six males and 156 females, mean age 82.9+/-9.5 (SD) years, of which 139 lived in nursing homes (NH) and 76 in hostels (H) were included. Mean total energy served from meals was 5.3 MJ/day, 5.1 to 5.6 MJ/day, 95% confidence intervals (CI), in NH which was less than in H, 5.9 MJ/day (CI 5.6 to 6.2 MJ/day) (P=0.007). Protein and calcium intakes were lower in NH, 44.5g (CI 41.5 to 47.5g), 359.0mg (CI 333.2 to 384.8mg), versus 50.5g (CI 46.6 to 54.3g), 480.5mg (CI 444.3 to 516.7mg) in H (P=0.017, P<0.001 respectively). There was no difference in nutrient/energy ratios, except for protein/energy, which was higher in NH 11.7 (CI 11.3 to 12.2) than in H 9.8 (CI 9.4 to 10.3) (P<0.001). Ability to self-feed had no significant effect on nutrient intakes in NH. The self fed group (N=63) had the following nutrient intakes: energy 4.0 MJ (CI 3.6 to 4.3 MJ), protein 44.6g (CI 40.3 to 48.9g), calcium 356.9mg (CI 316.3 to 397.4mg), fibre 14.9g (CI 13.2 to 16.5g). The assisted group (N=64) had the following nutrient intakes: energy 3.9MJ (CI 3.6 to 4.2MJ), protein 46.0g (CI 40.7 to 49.6), calcium 361.9mg (CI 327.8 to 396.1mg), fibre 14.9g (CI 13.2 to 16.1g). Of NH classified as eating impaired, 36% received no assistance with feeding and had lower intakes of protein 37.8g (CI 33.0 to 42.1g) compared to those receiving some assistance 46.1g (CI 41.3 to 50.9g) (P=0.026). Reduced energy intake accounted for the differences in nutrient intakes between nursing homes and hostels, except for protein. Strategies to effectively monitor nutrient intakes and to identify those with eating impairment are required in order to ensure adequate nutrition of residents in nursing homes and hostels.

A legacy of assimilation : abuse in Canadian native residential schools

Unlike the position in Australia, Canada has appropriately responded to the revelations of forced removal of indigenous children by apologising to those persons who suffered through the Native Residential Schools - Canada has also sought to facilitate settlements with many of these persons with validated claims.

Bryan the builder-residential work only

The High Court, in the 1995 landmark case of Bryan v Maloney, held a builder of a residential house liable to a subsequent owner for economic loss suffered by way of the reduction in value of the house caused by its defective foundations. Since that decision, several cases in state courts have indicated that any extension of the principle in Bryan to commercial properties is a matter for the High Court. This year, Woolcock Street Investments Pty Ltd v CDG Pty Ltd provided the vehicle for the High Court to revisit the Bryan principle in a commercial context. Faced with the question 'can a subsequent owner of a commercial property who discovers faulty foundations sue the builder for the costs of fixing the problem before it causes any physical damage to person or property?', the resounding response from the High Court has been 'no'. Gleeson CJ, Gummow, Hayne and Heydon JJ in a joint judgment and McHugh J and Callinan J in separate judgements rejected any 'extension' of the Bryan principle to commercial premises. Much to the relief of the construction industry, the Court made it clear that it will be difficult for a subsequent owner to make out a case in negligence against the original builder unless it can show special vulnerability to the risk of injury. Kirby J, in a dissenting judgment, suggested that the extension of liability to commercial builders fits quite comfortably with general principles and lamented the 'incremental' approach to liability presently favoured by the Court. Consequent upon the retirement of Gaudron J, Kirby J appears to be a lonely light on the hill, shining a solitary beacon on matters of principle.

The revisitation of Bryan has long been anticipated. However, Woolcock does not provide the solid bricks and mortar craved by the construction industry. Close examination of the reasoning of the Court suggests that it may itself rest on faulty foundations. In his dissenting judgment, Kirby J questions some of the assumptions made by the majority and highlights the deficiencies of the 'stated case' procedure for a re-examination of this particular area of law, thus suggesting that Woolcock may not be completely sound.

Comparison of multifactor productivity indicators for real estate sectors using the OECD input-output database

"Research on the international comparison of productivity has gained significant interest throughout several previous decades. Relatively little work has however been done in the real estate sector. This paper aims to develop a new productivity measurement framework for the international comparison of the real estate sector based on the newly-published OECD input-output database. Three multifactor productivity indicators are formulated using the ratio of the sectoral final demand to value added, the intermediate output to intermediate input and the total output to total input effect respectively in the input-output table. Historical analyses and comparisons are also carried out to indicate the differences of productivities of the real estate sectors in seven selected countries. Findings can improve the understanding of how technological, organisational and policy influences combine to affect productivity growth and aid the policy makers, real estate agencies and researchers in evaluating the competitive ability of the real estate sector."