PRRES Newsletter

Oct 2011

Call for Nominations - PRRES Board

Nominations are called for election to the PRRES Board for a term of 2 years from the 2012 AGM to the 2014 AGM.

Call for Nominations -  PRRES Achievement Award and PRRES Corporate Excellence Award

Nominations are called for the PRRES achievement award and the Corporate Excellence Award.

Welcome to 18th PRRES Conference

The 18th Pacific Rim Real Estate conference will introduce a number of innovations that hopefully will become part of future conferences. These include an informal Welcome Event on the Saturday night to encourage delegates to arrive for the Sunday and support the Postgraduate Colloquium and a Taste SA event which will give delegates the opportunity to try local produce. The Woman’s Breakfast makes a return and we are trialling a Breakfast event for the meeting of University Program Leaders. The conference theme of Property: Nexus of Place & Space appears timely and has been well supported both in the number and diversity of abstracts submitted and in the quality of the speakers we have been able to attract to the conference. Many of the papers and presentations will also be building on from last year’s conference theme of sustainability. In order to accommodate the number of papers submitted there will be five parallel sessions throughout the conference which should offer delegates ample choice in terms of topics and special interests.

The conference dinner also promises to be a unique experience with pre-dinner drinks alongside the Pandas before moving to the main dinner venue which looks across the Adelaide Zoo and Parklands. I look forward to seeing you at the conference in Adelaide and also encourage you and your families to spend time either before or after the conference enjoying our great SA attractions and culinary delights.

For general information click here

To register click here

Geoff Page 18th PRRES Conference Chair

Breaking News on the 4th PRRES Property Case Competition

Six universities will be competing on the 16th and 17th January 2012 at the 4th Property Case Competition at the 2012 PRRES Conference in Adelaide, Australia. Final confirmation will be received on the 15th November 2011. The universities are

  1. Bond University
  2. Curtin University
  3. The University of Auckland
  4. University of South Australia
  5. University of Southern California
  6. University of the Sunshine Coast

Dr Connie Susilawati, Queensland University of Technology

RICS Foundation Global Symposium Real Options: The Future of Property Investment and Property Valuation?

The University of South Australia is hosting the RICS Foundation Global Symposium from 18-20 January 2012 (immediately after the PRRES Conference) in Adelaide, Australia to explore the application of option pricing theory and real options to property investment and property valuation.

Keynote speakers with an extensive publication record in option pricing theory and property include Professor David Geltner from MIT, Professor Liu Hongyu from Tsinghua University and Associate Professor Sing Tien Foo from National University of Singapore, who will each present original research undertaken especially for the Symposium.

The Symposium will include an Oracle where global thought leaders examine issues arising from the keynote presentations together with a Masterclass for masters and doctoral research students and early career research academics to discuss their ideas, research or findings on real options in property with the world’s leading experts.

PRRES members are offered a heavily discounted registration fee.

A limited number of places are still available for Masterclass presenters and all members of PRRES are encouraged to bring this rare opportunity to the attention of relevant students and colleagues. Symposium registration fees will be waived for Masterclass presenters.

Potential participants are encouraged to contact Professor David Parker at  as soon as possible.


Clark Ingham

Clark Ingham passed away on 20th September, 2011 at the age of 62 after a brave battle with cancer. Clark joined the Australian Institute of Valuers, SA Division as a Student member in 1981, accepted as a Provisional in 1984, an Associate in 1985 and was elevated to Fellow in 1992. He served the API in a number of roles including Treasurer, Special Projects, Research & Education, Professional Board and SA Representative on National Council. His property career saw him with Baillieu Knight Frank, Director Consultancy; Myles Pearce, Managing Director and more recently with the SA State Valuation Office. Clark had a long association with UniSA giving of his time as Student Mentor, Lecturer and Course Advisory Committee Member. Clark will be sadly missed by all who had the privilege of knowing him as friend, associate and colleague.

Alan Hewitt

Sadly Alan Hewitt passed away on Wednesday 19 October, 2011. Alan was a Fellow Member of the API SA Division from 1988 to 2001. He was Chief Property Officer in the Department of Administrative Services, SA in the late 1970’s and held Board Positions on the CPS Credit Union, Securities Institute, the Australian Institute of Company Directors, FM Radio Station 5MBS and the Musicians Union. He was a very accomplished pianist and performed in public regularly with other Australian and International musical celebrities. He will be sadly missed by members, colleagues and friends.

News from PRRES Members

Lincoln University

Gary Garner (ex QUT) joined us at Lincoln this year as Senior Lecturer in Rural Valuation. He has had a tumultuous few weeks this last month or so having been in ICU but now at home recovering well and soon to be back on board. While in hospital his wife (and relatives that came over from Australia) moved into their new home. So Gary went straight from hospital to his new home! As his wife said he really didn’t really need to go to those lengths if he hadn’t wanted to move!
John McDonagh has been promoted to Associate Professor and Brent Nahkies has rejoined the group as Senior Lecturer in Property Studies. Both have embarked on their PhD!
Azlina Binti Md Yassin has submitted her PhD thesis for examination and is eagerly waiting to hear the results.
Jane Simpson, Senior Lecturer in Property has just commenced her PhD with Professor Bond as Supervisor.
Over the year we have coped with numerous earthquakes the most recent on 9th October, which measured 5.5 and was only 8 km deep near Sumner. This has been followed by floods and over the winter we had two heavy snow episodes that closed the university for a number of days. Altogether a tumultuous year for us all!

Professor Sandy Bond
Lincoln University

Deakin University

Sara Wilkinson has recently had her PhD awarded by the School of Life and Environmental Sciences, Faculty of Science & Technology at Deakin University. The title of the PhD was “The relationship between building adaptation events and building characteristics in an established commercial property market”. Well done Sara!

Professor Richard Reed
Deakin University

University of Western Sydney

Graeme Newell and John MacFarlane recently completed an API research project on “Building Better Returns: A Study of the Financial Performance of Green Office Buildings in Australia”. Copies of the report are available at .
Chyi Lin Lee received an EPRA research grant on inflation hedging and European property companies. The research is being done jointly with Assoc Professor Ming-Long Lee from the National Dong Hwa University, Taiwan.
Stockland scholarships will be awarded to UWS property students in October; a GPT scholarship is currently in the process of being awarded.

Professor Graeme Newell
University of Western Sydney

University of the Sunshine Coast

Lucy Cradduck was upgraded in July 2011 on graduating with a Doctorate of Juridical Science (SJD) from QUT. Lucy’s dissertation was entitled “The future of the Internet Economy: Addressing Challenges facing the implementation of the Australian National Broadband Network”. It focussed not on cost, or wireless v cable, but on the high level policy, legislation and support necessary to ensure full engagement by all Australians in the Internet Economy. The upgrading took a 'little' time, which included the dissertation floating at QUT Gardens Point over the 2010 Christmas break before being sent to examiners in late January 2011. Finalisation of the upgrading, however, occurred quite quickly as both examiners accepted the thesis without any revisions required! Now that she is Dr Lucy, she is concentrating on her garden and more specifically deletion of 'spam' from the garden beds.

Dr Lucy Craddock
University of the Sunshine Coast

University of South Australia

Geoff Page was recently awarded a Certificate of Appreciation by the API SA for his contribution to the Future Professionals Taskforce and Valerie Kupke was recently awarded a UniSA Staff Service Award by the Vice Chancellor for 25 years at the university.

Valerie also joined a number of property professionals, including Delfina Lanzilli and Coralie Norris from the SA Valuer General’s Office, at the 2011 Fabulous Women in Property Event!

Dr Valerie Kupke
University of South Australia

Karl-Werner & Gisela Retire!

After many faithful years of support at IRES and at PRRES, Gisela and Karl-Werner Schulte will retire at the end of this year. Dr Tobias Just is to succeed Karl-Werner from November 1, 2011 as the Academic and Managing Director of the IREBS Real Estate Academy in Frankfurt and Regensburg, Germany. The IREBS Real Estate Academy is part of the International Real Estate Business School at the University of Regensburg which is one of the leading institutions in real estate education worldwide.

For over nearly two decades Karl-Werner and Gisela have participated in the conferences of the unique IRES network and made friends with many colleagues. Karl-Werner and Gisela say we can be quite sure we will continue to meet them into the future as, with fewer duties, conferences will be even more enjoyable.

We wish them much happiness in their retirement!

New publication

Notice of a new publication H. C. Gelbtuch & E. H. Park (Eds.), Real Estate Valuation in Global Markets (2nd ed.) Chicago, IL: Appraisal Institute. The publication includes a New Zealand chapter by Retired Assoc Professor Rodney L Jefferies.

PRRES Newsletter

Editor: Valerie Kupke, UniSA

Webmaster: Peter Rossini, UniSA

Next edition April 2012