The mid-year edition of ANZPJ will be packed with articles and research papers relating to current and future issues concerning the property industry.
In the lead up to the federal election, the impact of political risk on Australian house prices is raised. In several countries, high house prices have emerged as a significant social and economic issue. An exploratory study examines whether prices can be linked to the political cycle, specifically at election time.
The journal also investigates whether excessively simplistic surface economic analysis is the culprit for the lack of embrace of prefabricated construction methods in the Australian residential sector. The benefits have been well established, despite overwhelming literature supporting the merits of industrialised construction industry.
The ‘secret’ to resource accommodation is also explored. Since the middle of the last decade Australia has been riding an economic roller coaster fuelled by a resources ‘boom’ built part on reality and part on expectation. Actual or proposed development of iron ore and gas in Western Australia, gas in the Northern Territory, uranium in South Australia and coal and coal seam gas (CSG) in Queensland have headlined this almost suffocating line of billion dollar projects around the country.
The journal also looks at rising sea levels and increased storm events and their relationship to property rights and boundaries. The alarming prospect that significant areas of the coast and coastal hinterland will be flooded, and hence private property rights destroyed, reveals how crucial flood risk mapping has become. However, throughout 2010/11 sustained questioning of the adequacy of such mapping has uncovered a critical link between property values, insurance and flood propensity in particular.
Infrastructure planning and key changes to the development industry also come under the spotlight, with a government release of a new planning system for NSW. This feature focuses on new concepts for the planning industry in relation to development feasibility and market assessment. The report covers the strong emphasis the new system will have on infrastructure planning, funding and provision and the potential merits and challenges of the new systems for various industry sectors.
Thi Kim Nguyen from UWS has won the 2012 Peter Barrington Award for her thesis, The significance and performance of Asian listed property companies in developed and emerging markets. The thesis explores the dynamic growth in Asian property markets, which has seen diversified growth stages among the emerging property markets in Asia.
There is also an article listing points for real estate professionals to consider when dealing with Black Swan events (fire and floods), in particular, problems with fire ravaged areas. Due to global warming and its increasing effect on Australian weather, real estate professionals must become more involved in discussing how to deal with these events.
These are just some of the stories included in the June edition of the ANZPJ. Click here for subscription details.
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