The impact of holding costs in the housing affordability puzzle

Research is now emerging which exposes the significance and extent to which even small shifts in the regulatory assessment period, and other factors, affect housing affordability. It suggests that the extent of its significance has not been hitherto completely demonstrated.

Preliminary modelling outcomes : calculation of holding costs in greenfield residential development

Many of the costs associated with greenfield residential development are apparent and tangible. For example, regulatory fees, government taxes, acquisition costs, selling fees, commissions and others are all relatively easily identified since they represent actual costs incurred at a given point in time. However, identification of holding costs are not always immediately evident since by contrast they characteristically lack visibility. One reason for this is that, for the most part, they are typically assessed over time in an ever-changing environment. In addition, wide variations exist in development pipeline components: they are typically represented from anywhere between a two and over sixteen years time period - even if located within the same geographical region. Determination of the starting and end points, with regards holding cost computation, can also prove problematic. Furthermore, the choice between application of prevailing inflation, or interest rates, or a combination of both over time, adds further complexity. Although research is emerging in these areas, a review of the literature reveals attempts to identify holding cost components are limited. Their quantification (in terms of relative weight or proportionate cost to a development project) is even less apparent; in fact, the computation and methodology behind the calculation of holding costs varies widely and in some instances completely ignored. In addition, it may be demonstrated that ambiguities exists in terms of the inclusion of various elements of holding costs and assessment of their relative contribution. Yet their impact on housing affordability is widely acknowledged to be profound, with their quantification potentially maximising the opportunities for delivering affordable housing. This paper seeks to build on earlier investigations into those elements related to holding costs, providing theoretical modelling of the size of their impact - specifically on the end user. At this point the research is reliant upon quantitative data sets, however additional qualitative analysis (not included here) will be relevant to account for certain variations between expectations and actual outcomes achieved by developers. Although this research stops short of cross-referencing with a regional or international comparison study, an improved understanding of the relationship between holding costs, regulatory charges, and housing affordability results.

The effect of high concentrations of calcium hydroxide in neutralised synthetic supernatant liquor : implications for alumina refinery residues

The presence of calcium hydroxide (Ca(OH)2) in Bayer residue slurry inhibits the effectiveness of the seawater neutralisation process to reduce the pH and aluminium concentration in the residue. An increase in the slurry pH (reversion), after seawater neutralisation, is caused by the dissolution of calcium hydroxide and hydrocalumite (solid components found in bauxite refinery residue). Reversion was not observed when the final solution pH was greater than 10.5, due to hydrocalumite being in a state of equilibrium at high pH. Hydrocalumite has been found to form during the neutralisation process when high concentrations of calcium hydroxide are present in the residue liquor. The dissolution of hydrocalumite releases hydroxyl (OH-) and aluminium ions back into solution after the seawater neutralisation (SWN) process, which causes pH and aluminium reversion to occur. This investigation looks at the effect of Ca(OH)2 and subsequently hydrocalumite on the pH and aluminium concentration in bauxite refinery residue liquors after the SWN process.

Recent developments in photocatalytic degradation of pesticides and phenols in storm and wastewater effluent

The heterogeneous photocatalytic oxidation process offers a versatile promise in the detoxification and disinfection of wastewater containing hazardous organic compounds such as pesticides and phenolic compounds in storm and wastewater effluent. This process has gained wide attention due to its effectiveness in degrading and mineralizing the organic compounds into harmless and often useful components. To develop an efficient photocatalytic process, titanium dioxide has been actively studied in recent years due to its excellent performance as a photocatalyst under UV light irradiation. This paper aims at critically evaluating and highlighting the recent developments of the heterogeneous photocatalytic systems with a special focus on storm and wastewater treatment applications.

An analysis of holding cost impact on housing affordability in relation to midsized Greenfield residential property developments in South East Queensland

The position of housing demand and supply is not consistent. The Australian situation counters the experience demonstrated in many other parts of the world in the aftermath of the Global Financial Crisis, with residential housing prices proving particularly resilient. A seemingly inexorable housing demand remains a critical issue affecting the socio-economic landscape. Underpinned by high levels of population growth fuelled by immigration, and further buoyed by sustained historically low interest rates, increasing income levels, and increased government assistance for first home buyers, this strong housing demand level ensures problems related to housing affordability continue almost unabated. A significant, but less visible factor impacting housing affordability relates to holding costs. Although only one contributor in the housing affordability matrix, the nature and extent of holding cost impact requires elucidation: for example, the computation and methodology behind the calculation of holding costs varies widely - and in some instances completely ignored. In addition, ambiguity exists in terms of the inclusion of various elements that comprise holding costs, thereby affecting the assessment of their relative contribution. Such anomalies may be explained by considering that assessment is conducted over time in an ever-changing environment. A strong relationship with opportunity cost - in turn dependant inter alia upon prevailing inflation and / or interest rates - adds further complexity. By extending research in the general area of housing affordability, this thesis seeks to provide a detailed investigation of those elements related to holding costs specifically in the context of midsized (i.e. between 15-200 lots) greenfield residential property developments in South East Queensland. With the dimensions of holding costs and their influence over housing affordability determined, the null hypothesis H0 that holding costs are not passed on can be addressed. Arriving at these conclusions involves the development of robust economic and econometric models which seek to clarify the componentry impacts of holding cost elements. An explanatory sequential design research methodology has been adopted, whereby the compilation and analysis of quantitative data and the development of an economic model is informed by the subsequent collection and analysis of primarily qualitative data derived from surveying development related organisations. Ultimately, there are significant policy implications in relation to the framework used in Australian jurisdictions that promote, retain, or otherwise maximise, the opportunities for affordable housing.

Exploration and reflection in interactive art : glass pond

Glass Pond is an interactive artwork designed to engender exploration and reflection through an intuitive, tangible interface and a simulation agent. It is being developed using iterative methods. A study has been conducted with the aim of illuminating user experience, interface, design, and performance issues.The paper describes the study methodology and process of data analysis including coding schemes for cognitive states and movements. Analysis reveals that exploration and reflection occurred as well as composing behaviours (unexpected). Results also show that participants interacted to varying degrees. Design discussion includes the artwork's (novel) interface and configuration.

Effect of depithing on the safety and environmental aspects of bagasse stockpiling

Large scale sugarcane bagasse storage in uncovered stockpiles has the potential to result in adverse impacts on the environment and surrounding communities through hazards associated with nuisance dust, groundwater seepage, spontaneous combustion and generation of contaminated leachates. Managing these hazards will assist in improved health and safety outcomes for factory staff and reduced potential environmental impacts on surrounding communities. Removal of the smaller fibres (pith) from bagasse prior to stockpiling reduced the dust number of bagasse by 50% and modelling suggests peak ground level PM10 dust emissions would reduce by 70%. Depithed bagasse has much lower water holding capacity (~43%) than whole bagasse. This experimental and modelling study investigated the physical properties of depithed and whole bagasse. Dust dispersion modelling was undertaken to determine the likely effects associated with storage of whole and depithed sugarcane bagasse.

Neutralization of acid sulfate solutions using bauxite refinery residues and its derivatives

This investigation has shown that by transforming free caustic in red mud (RM) to Bayer hydrotalcite (during the seawater neutralization (SWN) process) enables a more controlled release mechanism for the neutralization of acid sulfate soils. The formation of hydrotalcite has been confirmed by X-ray diffraction (XRD) and differential thermalgravimetric analysis (DTG), while the dissolution of hydrotalcite and sodalite has been observed through XRD, DTG, pH plots, and ICP-OES. Coupling of all techniques enabled three neutralization mechanisms to be determined: (1) free alkali, (2) hydrotalcite dissolution, and (3) sodalite dissolution. The mechanisms are determined on the basis of ICP-OES and kinetic information. When the mass of RM or SWN-RM is greater than 0.08 g/50 mL, the pH of solution increases to a suitable value for plant life with aluminum leaching kept at a minimum. To obtain a neutralization pH greater than 6 in 10 min, the following ratio of bauxite residue (g) in 50 mL with a known iron sulfate (Fe2(SO4)3) concentration can be determined as follows: 0.04 g:50 mL:0.1 g/L of Fe2(SO4)3.

Reproductive behavioural differences between wild-caught and pond-reared Penaeus monodon prawn broodstock

Ongoing problems exist with the commercial scale domestication of Penaeus monodon. One of the major issues, in terms of reproductive performance, is the low egg hatch rate of eggs from these captive bred prawns. The current study investigated the related issue of mating success. Time lapse video observations were conducted to compare the mating behaviour of pond-reared (domesticated) and wild-caught prawn P. monodon broodstock. Mating success of the pond-reared prawns was found to be low relative to wild-caught. It was determined that both male and female prawns contributed to this low mating rate suggesting both genders were impacted negatively by the domestication process. The causative factors for the low mating success are yet to be determined, however external physical abnormalities and lack of sexual maturity did not appear to play a role. The most notable behavioural difference between wild-caught and domesticated prawns was a reduced level of pursuit behaviour by domesticated males. This and other behavioural differences are discussed in relation to an increasing body of evidence that male prawns respond to sex pheromones produced by receptive females and that males detect these chemical signals in part, via their second antennal flagella. Accordingly we hypothesise that pond-reared (domesticated) females may have a reduced ability to produce or release sex pheromones and males, a reduced ability to detect them when compared to their wild-caught counterparts.

“Nobody’s holding a gun to your head…” examining current discourses surrounding victims of online fraud

The current discourse surrounding victims of online fraud is heavily premised on an individual notion of greed. The strength of this discourse permeates the thinking of those who have not experienced this type of crime, as well as victims themselves. The current discourse also manifests itself in theories of victim precipitation, which again assigns the locus of blame to individuals for their actions in an offence. While these typologies and categorisations of victims have been critiqued as “victim blaming” in other fields, this has not occurred with regard to online fraud victims, where victim focused ideas of responsibility for the offence continue to dominate. This paper illustrates the nature and extent of the greed discourse and argues that it forms part of a wider construction of online fraud that sees responsibility for victimisation lie with the victims themselves and their actions. It argues that the current discourse does not take into account the level of deception and the targeting of vulnerability that is employed by the offender in perpetrating this type of crime. It concludes by advocating the need to further examine and challenge this discourse, especially with regard to its potential impact for victim’s access to support services and the wider criminal justice system.

Adsorption of reactive dye on seawater-neutralised bauxite refinery residue

This investigation has demonstrated the need for thermal treatment of seawater neutralised red mud (SWRM) in order to obtain reasonable adsorption of Reactive Blue dye 19 (RB 19). Thermal treatment results in a greater surface area, which results in an increased adsorption capacity due to more available adsorption sites. Adsorption of RB 19 has been found to be best achieved in acidic conditions using SWNRM400 (heated to 400 �C) with an adsorption capacity of 416.7 mg/g compared to 250.0 mg/g for untreated SWNRM. Kinetic studies indicate a pseudosecond-order reaction mechanism is responsible for the adsorption of RB 19 using SWNRM, which indicates adsorption occurs by electrostatic interactions.

Application of kaolin amorphous derivative as a nitrogen carrier

Sandy soils have low nutrient holding capacity and high water conductivity. Consequently, nutrients applied as highly soluble chemical fertilisers are prone to leaching, particularly in heavily irrigated environments such as horticultural soils and golf courses. Amorphous derivatives of kaolin with high cation exchange capacity may be loaded with desired nutrients and applied as controlledrelease fertilisers. Kaolin is an abundant mineral, which can be converted to a meso-porous amorphous derivative (KAD) using facile chemical processes. KAD is currently being used to sequester ammonium from digester effluent in sewage treatment plants in a commercial environment. This material is also known in Australia by the trade name MesoLite. The ammonium-saturated form of KAD may be applied to soils as a nitrogen fertiliser. Up to 7% N can be loaded onto KAD by contacting it with high-ammonia concentration wastewater from sewerage treatment plants. This poster paper demonstrates plant uptake of nitrogen from KAD and compares its efficiency as a fertiliser with NH4SO4. Rye grass was grown in 1kg pots in a glass-house. Nitrogen was applied at a range of rates using NH4SO4 and two KAD materials carrying 7% and 3% nitrogen, respectively. All other nutrients were applied in adequate amounts. All treatments were replicated three times. Plants were harvested after four weeks. Dry mass and N concentrations were determined by standard methods. At all N application rates, ammonium-loaded KAD produced significantly higher plant mass than for NH4SO4. The lower fertiliser effectiveness of NH4SO4 is attributed to possible loss of some N through volatilisation. Of the two KAD types, the material with lower CEC value supported slightly higher plant yields. The KAD materials did not show any adverse effect on availability of trace elements, as evidenced by lack of deficiency symptoms and plant analyses. Clearly, nitrogen loaded on to KAD in the form of ammonium is likely to be protected from leaching, but is still available to plants. These data suggest that KAD-based fertilisers may be suitable substitutes for water soluble N, K and other cation fertilisers for leaching soils.