Proceedings of the Pacific Rim Real Estate Society (PRRES) Conference

Proceedings from the PRRES Conference - 2013
19th Annual Pacific Rim Real Estate Society Conference
Melbourne, Australia, January 13-16, 2013

PRRES Conference - 2013, Keynote Speakers

	Michael McAllum Michael is a distinguished fellow of the Asian Foresight Institute, based in Bangkok, has been a fellow of the Australian Institute of Management and the Australian institute of Company Directors and is a foundation member of the Association of Professional Futurists. He is also a member of an exclusive international speakers bureau 'Future Voices' and was one of only nine global expert commentators in the recently released British Government report; “The shape of jobs to come”. Mike was born in Christchurch and now lives in Melbourne. He specialises in working and having conversations with regions and organisations to design better futures, especially where conventional thinking about where value lies has reached its limits. .
	The Hon. Tom Roper Since his retirement, after 21 years in the Victorian Parliament (Australia), he has been an active Board Member of the Washington DC based Climate Institute, Global Urban Development and Greenfleet (Australia), an advisor to government, business and NGO’s on sustainability issues and an Honorary Life Member of the Metropolis Association. He provides briefings on climate change developments and green building issues for the Victorian Department of Sustainability and Environment and the Building Commission. He is the Project Director of the Global Sustainable Energy Islands Initiative which provides assistance to Small Island States seeking to introduce renewable energy and energy efficiency measures. He has recently been appointed a Senior Fellow of Melbourne University’s Australian Centre for Science, Innovation and Society and elected Chair, Australian Sustainable Built Environment Council.
	Professor Tony Key, Professor of Real Estate Economics Tony Key joined the Cass Business School, City of London University as Professor of Real Estate Economics in January 2003. He had previously been the Director of Research at Investment Property Databank since 1988, undertaking the development of Real Estate research and Information Services including forecasts, market analysis and risk assessment. He also led the introduction of new real estate index and benchmarking services in Scandinavia and Canada. Through the 1970s and 1980s, Tony worked on urban and regional development projects in government, at the Centre for Environmental Studies, and was a Partner of Property Market Analysis. In recognition of his contribution to property research Professor Tony Key has been awarded an honorary Life Fellowship of the UK Society of Property Researchers (2010) and an honorary Fellowship of the RICS (2012). Session Speakers
	Mr David Waldren, *National Executive Design Manager, Grocon Group* Joining Grocon in 2001 as the Victorian Design Manager, David had worked previously as the Design Manager for a variety of high profile developments. David is currently the General Manager of the Carlton Brewery project heading the team responsible for the design development and delivery of this mixed use development worth approximately $1.2 billion. He is also involved in the Common Ground project which aims to provide a solution for the long term homeless.
	Mr Dale Stokes, Director, Spatial Economics Dale’s work particularly focuses on to the multifactor assessment required to support settlement planning. His firm, Spatial Economics was established in 2007 and has expertise in the areas of Land Supply Assessments, Urban and Regional Policy, Housing Policy and Strategies, Urban Economics, Spatial Analysis, GIS Software Development and Demand Projections. The firm has created new GIS programs that assist planners, urban and regional economists and policy analysts understand the urban and regional
	**Mr Bruce Thompson, Chief Information Officer Department of Sustainability and Environment, Victoria** Bruce is Chief Information Officer, Department of Sustainability and Environment, State Government of Victoria, Australia. He is a member of the Victorian ICT advisory Committee. As part of this role he is responsible for Victoria’s spatial information strategy and policies, and for the management of Victoria’s spatial information infrastructure. He is a member of ANZLIC, the Australia New Zealand Land Information Council, and a director of PSMA Australia, Australia’s national spatial data provider.
	**Ms Suzanne Findlay, Infrastructure Investments, Australian Super** Suzanne is a member of the AustralianSuper Infrastructure team, with responsibility for asset management and fund managers. Prior to joining AustralianSuper she was an equities analyst with responsibility for the Insurance, Developers and Retail sectors. Suzanne has consulted on custody arrangements for pension funds and investment managers while she worked in the UK and has been actuarial and custody analyst at Towers Perrin in Melbourne.
	Mr Paul O’Connor, Director of Audit Victorian Auditor-General's Office Paul O’Connor is a sector director in the Performance Audit Group of the Victorian Auditor-General’s Office (VAGO). Paul’s responsibilities include the planning and conduct of strategic reviews of whole of public sector Information and Communication Technology (ICT) projects and initiatives, as well as the development of VAGO’s Annual Plan, which targets and forecasts the audits that VAGO will conduct over a rolling four year period. Paul has a particular research interest in Public Private Partnerships (PPPs) and major ICT projects, and has wide practitioner experience gained from directing nearly all the PPP and ICT related reviews conducted by VAGO over the last 4 years
	Paul Roe,o:p> Director Policy Infrastructure Australia Paul is a highly experienced economist with extensive policy knowledge gained through his previous roles at the Australian Government Treasury, the Department of Prime Minister and Cabinet and the Reserve Bank of Australia. He has provided strategic policy advice on important microeconomic reforms, budget and debt portfolio issues. Within Infrastructure Australia, Paul has advised on the National Infrastructure Priority List and is currently progressing work on the recommendations of the Infrastructure Finance Working Group in relation to government balance sheet reform and diversifying sources of finance to address Australia’s infrastructure funding and financing challenges

Delegate Papers /font>

Papers shown as "refereed" have been refereed through a peer review process involving an expert international board of referees headed by Dr David Higgins. Full papers were refereed with authors being required to make any changes prior to presentation at the conference and subsequent publication as a refereed paper in these proceedings. Non-refereed presentations may be presented at the conference without a full paper and hence not all non-refereed presentations and/or papers appear in these proceedings. All authors retain the copyright in their individual papers.

Antti Saynajoki, Jukka Heinonen And Seppo Junnila, A Comparative Greenhouse Gas Analysis Of Energy Efficiency Renovation And New Construction Of A Residential Area Refereed

Judith Callanan, A Contingent Valuation Approach To The Valuation Of High Voltage Transmission Lines Refereed

John Macfarlane, Accurate Valuation When The Penalty For Inaccurate Valuation Is Asymmetric

Lyndall Bryant, Action Research And Unit Improvement In Higher Education; A Case Study Approach Refereed

Paul Kershaw And Peter Rossini, Aggregated Vs Actual Data In Calculating Housing Market Yields: Why Most Published Yields Are Misleading

Iona Mccarthy And Michael Lawrence, An Assessment Of Rural Valuation Methods For Dairy Farm Financing

Richard Reed And Anita Bilos, An Examination Of International Sustainability Rating Tools: An Update

Jian Liang, Are Different Types Of Real Estate Investment Trusts Using Different Earnings Management?

Francis Pangfei Lai, Are We Socially Intelligent? Refereed

Valerie Kupke And Stanley Mcgreal, Assessing The Current Dynamic Of Investment In The Australian Retail Property Sector

Chris Eves And Andrea Blake, Assessing The Long Term Viability Of Leasehold Rural Land In Queensland Refereed

Graeme Newell, Assessing The Quality Rankings Of The Property Research Journals

Wejendra Reddy, David M. Higgins, Mark Wist And John Garimort , Australian Industry Superannuation Funds: Investment Strategies And Property Allocation

Lyndall Bryant, Building A Predictive Model For House Price Drivers In Australia

Geoff Page, Carbon Farming

Fang Fang And David M. Higgins, Chinese Residential Property Markets: Applying Diversification Principles And Practices Refereed

Michael Fibbens, Michael Y. Mak And Anthony P. Williams, Coal Seam Gas Extraction: Does Landholder Compensation Match The Mischief Refereed

Jeremy Gabe And Michael Rehm, Commercial Building Energy Effiency: Where Does It Fit In The Property Value Chain? Refereed

Doug Baker, Chris Eves And Lyndall Bryant, Commercial Developments In Airport Precincts: Lease And Valuation Issues

Charles Leung, Song Shi And Edward Tang, Commodity House Prices

Xin Janet Ge And Jian Chen, Rental Housing Subsidy Policy: Nras Refereed

Timothy Tunds Oladokun, Corporate Real Estate Management Practice In Nigeria: A Survey Of The Attitude Of Business Executives

Mia Andelin, Riikka Kyro And Anna-Liisa Sarasoja, Current Sustainability Reporting Practices In Nordic Real Estate Companies Refereed

Mccord.M, Mciihatton. D, And Grissom., T, Cyclical Co-Movements Of House Prices

Abdul Jalil Omar And Christopher Heywood, Defining A Corportate Real Estatemanagements (Crem) Brand Refereed

Jung Hoon Han And Jun-Hyung Kim, Developing A Tenancy Mix Model For Commercial Properties In Sydney

Kwong Wing Chau And C. M. Lee, Dog-Keeping Policy And Apartment Prices

Andrea Blake And Matthew Gray, Embracing Social Networking To Create A Community Of Scholars In Large Multi-Disciplinary First Year Cohorts Refereed

Christopher Heywood And Russell Kenley, Five Axioms For Corporate Real Estate Management: A Polemical Position Refereed

Junaidah Jailani, Richard Reed, Georgia Warren-Myers And Kimberley James, Form Versus Function: A Study Into Interactive Learning Process Affecting The Implementation Of Sustainability In Commercial Buildings Refereed

Dermot Mcgeown, Fostering Real-World Learning? Embedding And Evaluating Teamwork In A Capstone Subject(In Real Estate Refereed

Deborah Levy And Catherine Frethey-Bentham, Framing Effects On The Perception Of Property Market Volatility And Optimism

Zhi Dong, Fundamental Economic Performance Of Australian And New Zealand Commercial Property Markets

Neville Hurst, Richard Reed And David Bednall, House Energy Efficiency Performance: Attitudes Of Real Estate Agents

Richard Reed, Housing Affordability And Social Area Analysis: Is Sydney The Winner? Refereed

Tony Lockwood, Importance Of The Fiscal Cadastre

Xiaolin Zhai, Richard Reed And Anthony Mills, Increasing The Level Of Sustainability Via Off-Site Production: A Study Of The Residential Construction Sector In China Refereed

Gary Owen Garner, Industry Perceptions Of Property Holding Costs And The Associated Effectiveness Of Electronic Development Application Instruments Refereed

Dabara Ibrahim Daniel And Ogunba Olusegun, Inflation-Hedging Capability And Risk Return Strategies Of Commecial Real Estate Investment In Nigeria

Joanna Poon, Richard Stevens And Paul Royston, Integrating Commercial Awareness Into The Curriculum: Perspectives From Uk Real Estate Courses

Michael Rehm, "Interactive, Online Lectures: Future Or Fad?"

Anthony J De Francesco And Peter F Mcguinness, Investing Across Real Asset Classes In The Mixed Asset Portfolio The Case For Unlisted Infrastructure And Real Estate In Australia

Pernille Christensen, "Key Drivers Of Sustainable Commercial Real Estate Decision-Making In The United States: A Delphi Study Of Investors,Owners,Tenants And Developers "

Hilary Davies And Heidi Lee, Matching Academic Workspaces And Work Characteristics Refereed

Jonathan Boymal, Ashton De Silva And Shen Lui, Measuring The Preference For Dwelling Characteristics Of Melbourne: Railway Stations And House Prices Refereed

Lucy Cradduck, Mobile Valuations: The Internet?S Impact On Traditional Valuation Services Refereed

Sharon Yam And Peter Rossini, Online And Traditional Formative Assessment: Experience From A First-Year Property Cours Refereed

Garrick Small, "Opinion Versus Reality: Flood-Affected Property Values In Rockhampton, Australia" Refereed

Lucy Cradduck, "Parking, Parties And Pets: Disputes ? The Dark Side Of Community Living" Refereed

Clive M. J. Warren And James Hosking, Perceptions Of Corporate Social Responsibility In The Asia Pacific: Implications For Sustainable Development Refereed

Helen Gilbert, Planning Law And Sustainable Building Outcomes: Assessing The Effectiveness Of Nsw Planning Legislation In Promoting Ecologically Sustainable Development Refereed

Ming-Te Lee, Shew-Huei Kuo, Ming-Long Lee And Chyi Lin Lee, Price Discovery And Volatility Spillovers In Reit Cash And Futures Markets: Impacts Of The Global Financial Crisis

Laurence Murphy, Price Dynamics In Medium Density Housing

Yung Yau, Wai Kin Lau And Daniel Chi Wing Ho, Principle Of Selectivity In Housing Rehabilitation Subsidies: A Case Study In Hong Kong Refereed

Connie Susilawati And Sharon Yam, Property Case Competition: Multi-Stakeholder Reflection Refereed

Georgia Warren-Myers And Pamm Phillips, Rapid Urban Growth And Implications For Sport Development: Facility Planning And Provision

Simon Huston, Sebastien Darchen And Kylie May, Recent Ipswich Cbd Revitalisation - Backdrop And Reflections Refereed

Vincent Mangioni, Recurrent Property Taxation: Revenue Re-Alignment For State And Local Government In Australia Refereed

Alice Christudason, Regulation Of Shoebox Apartments In Land Scarce Singapore

Valerie Kupke, Peter Rossini, Paul Kershaw And Stanley Mcgreal, Renovating The System: Assessing Policy Outcomes Through An Examination Of Residential Sales Transactions Refereed

Kimberly Winson-Geideman And Nicholas Evangelopoulos, "Research In Real Estate, 1973-2010: A Three-Journal Comparison" Refereed

Lois Towart, Retirement Village Resident Duration An Empirical Analysis Refereed

Lawrence Chin And Clement Lee, Singapore'S Regional Centres And Their Impact On Housing Prices And Employment

Ju Hyun Lee, Michael Y. Mak And William D. Sher, Strategic Planning Indicators For Urban Regeneration: A Case Study On Mixed-Use Development In Seoul Refereed

Ju Hyun Lee, Michael Y. Mak, William D. Sher And Michael J. Ostwald, Strategic Planning Schemes Of Mixed-Use Developments To Support Urban Regeneraion In South Korea Refereed

Yasmin Mohd Adnan, Ainoriza Mohd Aini, Md Nasir Daud, Sustainable Office Features For Office Occupation At Office Buildings In Kuala Lumpur ? Preliminary Study

Burhaida Burhan, Temporal Aggregate Effects In Hedonic Price Analysis Refereed

Chyi Lin Lee And Stephen Lee, The 52-Week High And Momentum Investing In International Real Estate Markets

Brent Nahkies, The Canterbury Royal Commission ? Impacts On The Property Market

Simon A. De Garis, The Cotton Industry In Australia: An Analysis

Kwong Wing Chau And T.C.C. Lai, The Determinants Of The Tobin'S Q Of Listed Property Companies

Sanna Ala-Mantila, Jukka Heinonen And Seppo Junnila, The Greenhouse Gas Implications Of Urban Sprawl In Helsinki Metropolitan Area Refereed

Lynne Armitage And Ann Rask, The Human Green Office Experience: Happy And Healthy Or Sick And Frustrated?

Chyi Lin Lee And Graeme Newell, The Impact Of Corporate Social Responsibility Practices On The Performance Of A-Reits

Siqi Yan And Xin Janet Ge, The Impact Of Government Land Supply On Housing Starts Refereed

Greg Costello, Patricia Fraser And Garry Macdonald, The Impact Of Monetary Policy On Australian Capital City House Prices: Should The Authorities ?Lean Against A Housing Bubble??

David M. Higgins, The Implication Of Black Swan Events On Property Market Research

Zonghie Han, The Practical Implications Of The Unifiation Of The Real Estate Register System In Korea Refereed

Jinu Kim, Michael Brand, Hyun-Soo Lee And Moon-Seo Park, The Role Of Construction Companies In The Reconstruction Process Of Aparement Buildings In Korea Refereed

David Parker, The Role Of Software In Property Development

Graeme Newell, The Significance And Performance Of Private Equity Real Estate

Jonathan Drane, The State Of Contemporary Property Development Theory Refereed

Ranajit Kumar Bairagi And William Dimovski, The Underwriting Syndicate Structure And The Indirect Costs Of U.S. Reit Seos Refereed

Chris Eves, The Valuation Of Long Life Mines:Current Issues And Methodologies Refereed

Hasniyati Hamzah, Md Nasir Daud, Anuar Alias, Yasmin Mohd Adnan, "The Vibrancy Factors For Putraaya, The Administrative City Of Malaysia"

Matthew Gray And Andrea Blake, Threshold Concepts In Property Education: A Case Study Refereed

Patrick Lecomte, Tiptoe Past The Dragon: Replicating And Hedging Chinese Direct Real Estate Refereed

Michael Ritchie, Bill Dimovski And Saikat Sovan Deb, Underpricing Of Infrastructure Ipos: Evidence From India

John Sheehan, Understanding The Historical And Legal Roots Of Property

Greg Costello, Unit Land Price Volatility In Housing Markets

David Parker, Unlisted Property Fund Decision Making: A Practitioner Survey Refereed

Eeva Saynajoki, Jukka Heinonen And Seppo Junnila, Urban Density And Local Sustainability ? A Case Study Refereed

Peddy, Pi-Ying, Lai And Hsiang Chiu, Using Assess Information System Of Urban Design Review In Kaohsiung City

Tuuli Jylh„, Utilizing Lean Management In Real Estate Sector Refereed

Callum Logan, Valuing The Risk Of Imperfect Information ? Christchurch Earthquake

Eeva M„„tt„nen And Seppo Junnila, What Is The Value Of Green Fm For Office Tenants? An Application Of Kano'S Model Of Attractive Quality Refereed

Steven Boyd, What Property Students May Learn From Playing Games Refereed

Hera Antoniades, White Collar Crime And Property Agents: A Selection Of Convictions Involving Trust Accounting Fraud Refereed

Hera Antoniades, Why Include Gst On Commercial Residential Premises Refereed

Pernille Christensen, "Key Drivers Of Sustainable Commercial Real Estate Decision-Making In The United States: A Delphi Study Of Investors, Owners, Tenants And Developers"

Michele Kennedy, Can Self-Managed Superannuation Funds Be A Positive Property Investment Vehicle For Wealth Accumulation For Retirement

Jiancong Liang, S.K. Wong And K.W. Chau, Cap Rate Movements In Hong Kong

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