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Article

Jerry Liang, Richard Reed and Tony Crabb

The purpose of this paper is to investigate the role of spatial dependency in the construction of a price index for the transactions of whole office buildings. It examines…

Abstract

Purpose

The purpose of this paper is to investigate the role of spatial dependency in the construction of a price index for the transactions of whole office buildings. It examines transactions of office buildings over a 15-year period and addresses an under-researched area in investment property analysis.

Design/methodology/approach

The study examines data relating to transactions of all office buildings in the Melbourne (Australia) central business district between 2000 and 2015. The methodology uses a spatial weights matrix to construct a hedonic model, spatial error model, spatial lagged model and an office building transactional price index.

Findings

The findings confirm the existence of spatial dependency for the transactions of office buildings. In addition, incorporating the effect of spatial dependency by constructing spatial error and spatial lagged model improved the accuracy of the estimated transactional price index for office buildings.

Research limitations/implications

These findings make an important contribution to the literature by highlighting the importance of the issue of spatial autocorrelation in the estimation of valuation models and price indexes for office buildings. Until now the focus has predominantly been on individual office units rather than whole office buildings, where the barrier has traditionally been access to comprehensive data. The analysis did not consider leasing details as this information is not accessible in the Australian market.

Practical implications

The research will assist stakeholders including valuers, investors and market regulators to improve their understanding of movements in the office property transactional market. The findings provide an insight into trends associated with the transfer of office buildings. It will assist future decisions about the location of a new office building developments in order to optimise their proximity to transport and other buildings.

Social implications

The study will assist planners to ensure the location of office buildings are optimised from a social sustainability perspective. This equates to buildings located in close proximity to transport facilities and also supporting the development of office buildings in locations, which are associated with lower future risk.

Originality/value

The construction of an accurate and reliable property index is critically important for practitioners to understand the movement in both the property market and also in the broader economy. A substantial increase in whole office building acquisitions has been observed in recent years, especially after the 2007 Global Financial Crisis (Lizieri and Pain, 2014) although there has remained limited research undertaken in this area.

Details

Journal of Property Investment & Finance, vol. 36 no. 3
Type: Research Article
ISSN: 1463-578X

Keywords

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Article

Sheree Green

This paper highlights the case of David Cooper, a vulnerable adult who was financially abused. It discusses the indicators that may have alerted individuals and services…

Abstract

This paper highlights the case of David Cooper, a vulnerable adult who was financially abused. It discusses the indicators that may have alerted individuals and services to the risk of financial abuse, and the measures taken by those aware of David's potential vulnerability.

Details

The Journal of Adult Protection, vol. 13 no. 1
Type: Research Article
ISSN: 1466-8203

Keywords

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Article

Robert S. Martin, Michael Clark‐Madison, Elizabeth Crabb, Lisa deGruyter, Jean Hamrick, George E. Huffman, Toni Lambert, Gloria McClanahan, C. Rooks and Mary Kay Snell

The challenge of connectivity in Texas, between libraries and between citizens, is complicated by the state's size—both geographic and demographic—and its…

Abstract

The challenge of connectivity in Texas, between libraries and between citizens, is complicated by the state's size—both geographic and demographic—and its diversity—ethnic, economic, and technological.

Details

Library Hi Tech, vol. 14 no. 2/3
Type: Research Article
ISSN: 0737-8831

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Article

Peng Yew Wong, Woon-Weng Wong and Kwabena Mintah

The purpose of this paper is to validate and uncover the key determinants revolving around the Australian residential market downturn towards the 2020s.

Abstract

Purpose

The purpose of this paper is to validate and uncover the key determinants revolving around the Australian residential market downturn towards the 2020s.

Design/methodology/approach

Applying well-established time series econometric methods over a decade of data set provided by Australian Bureau of Statistics, Reserve Bank of Australia and Real Capital Analytics, the significant and emerging drivers impacting the Australian residential property market performance are explored.

Findings

Besides changes in the significant levels of some key traditional market drivers, housing market capital liquidity and cross-border investment fund were found to significantly impact the Australian residential property market between 2017 and 2019. The presence of some major positive economic conditions such as low interest rate, sustainable employment and population growth was perceived inadequate to uplift the Australian residential property market. The Australian housing market has performed negatively during this period mainly due to diminishing capital liquidity, excess housing supplies and retreating foreign investors.

Practical implications

A better understanding of the leading and emerging determinants of the residential property market will assist the policy makers to make sound decisions and effective policy changes based on the latest development in the Australian housing market. The results also provide a meaningful path for future property investments and investigations that explore country-specific effects through a comparative analysis.

Originality/value

The housing market determinants examined in this study revolve around the wider economic conditions in Australia that are not new. However, the coalesce analysis on the statistical results and the current housing market trends revealed some distinguishing characteristics and developments towards the 2020s Australian residential property market downturn.

Details

Property Management, vol. 38 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

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Article

HELEN P. HARRISON

In addition to providing a review of the literature recently published in the librarianship of non‐book materials this survey aims to draw attention to the…

Abstract

In addition to providing a review of the literature recently published in the librarianship of non‐book materials this survey aims to draw attention to the characteristics, problems and achievements particular to the documentation and handling of non‐book materials (NBM) in many types of libraries. The materials are briefly described and considerations of selection, acquisition, organization, storage and in particular bibliographic control are dealt with in some detail. Other areas of concern to the librarian dealing with media resources, including the organization and training of staff, planning, equipment, exploitation and copyright, are also discussed. The past decade has seen the widespread introduction of NBM into libraries as additional or alternative sources of information. Librarians have been given an opportunity to rethink many basic principles and adapt existing practice to encompass the new materials. The survey reflects the achievements and some of the failures or problems remaining to be solved in this rapidly expanding area of library work.

Details

Journal of Documentation, vol. 35 no. 3
Type: Research Article
ISSN: 0022-0418

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Article

Walt Crawford

Recent Trailing Edge articles have discussed typefaces and graphics. This column discusses putting it all together: economical desktop publishing. There has never been a…

Abstract

Recent Trailing Edge articles have discussed typefaces and graphics. This column discusses putting it all together: economical desktop publishing. There has never been a better time for libraries to become desktop publishers, and some will find that doing so requires no new software or hardware. The author discusses changes that have made desktop publishing such an appealing and reasonably‐priced proposition in 1994 and some of your options for getting started and moving on. He brings the typeface discussion up to date with a startling recent development and defines the difference between true desktop publishing and the spare‐no‐expense field that the “desktop publishing” magazines cover. A sidebar notes a series of desktop publishing workshops that the author is offering as part of LITA's regional institutes program. Finally, the author adds notes on the personal computing literature for January to March 1994, now including some Macintosh magazines and, soon, CD‐ROM/multimedia publications.

Details

Library Hi Tech, vol. 12 no. 3
Type: Research Article
ISSN: 0737-8831

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Article

Elsewhere in this issue we review the First (Interim) Report of the Joint Survey of Pesticide Residues in Foodstuffs, published by the Association of Public Analysts…

Abstract

Elsewhere in this issue we review the First (Interim) Report of the Joint Survey of Pesticide Residues in Foodstuffs, published by the Association of Public Analysts (Editor: Mr. D. G. Forbes, B.Sc., F.R.I.C.). The Scheme, planned with meticulous care and executed with the best spirit of co‐operation, sets a pattern for this type of investigation; there are other problems which could be studied in the same manner. Such a response from the bodies representing the major local authorities of the country and their food and drugs administrations—inspectors, food sampling officers, public analysts—is evidence of the concern felt over this particular form of contamination of food. It constitutes a public health problem of world‐wide dimensions. The annual reports of public analysts show that many are examining foods outside the Survey lists now that gas/liquid chromatography, spectroscopy and other highly refined methods of analysis are available to them.

Details

British Food Journal, vol. 71 no. 2
Type: Research Article
ISSN: 0007-070X

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Article

In the Court of Appeal last summer, when Van Den Berghs and Jurgens Limited (belonging to the Unilever giant organization) sought a reversal of the decision of the trial…

Abstract

In the Court of Appeal last summer, when Van Den Berghs and Jurgens Limited (belonging to the Unilever giant organization) sought a reversal of the decision of the trial judge that their television advertisements of Stork margarine did not contravene Reg. 9, Margarine Regulations, 1967—an action which their Lordships described as fierce but friendly—there were some piercing criticisms by the Court on the phrasing of the Regulations, which was described as “ridiculous”, “illogical” and as “absurdities”. They also remarked upon the fact that from 1971 to 1975, after the Regulations became operative, and seven years from the date they were made, no complaint from enforcement authorities and officers or the organizations normally consulted during the making of such regulations were made, until the Butter Information Council, protecting the interests of the dairy trade and dairy producers, suggested the long‐standing advertisements of Reg. 9. An example of how the interests of descriptions and uses of the word “butter” infringements of Reg. 9. An example af how the interests of enforcement, consumer protection, &c, are not identical with trade interests, who see in legislation, accepted by the first, as injuring sections of the trade. (There is no evidence that the Butter Information Council was one of the organizations consulted by the MAFF before making the Regulations.) The Independant Broadcasting Authority on receiving the Council's complaint and obtaining legal advice, banned plaintiffs' advertisements and suggested they seek a declaration that the said advertisements did not infringe the Regulations. This they did and were refused such a declaration by the trial judge in the Chancery Division, whereupon they went to the Court of Appeal, and it was here, in the course of a very thorough and searching examination of the question and, in particular, the Margarine Regulations, that His Appellate Lordship made use of the critical phrases we have quoted.

Details

British Food Journal, vol. 80 no. 1
Type: Research Article
ISSN: 0007-070X

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