Determining the effect of ocean proximity on residential property prices in Port Elizabeth

Economic contribution studies, including those from a maritime perspective, are of great interest to both governmental and non-governmental organisations, as well as researchers. This interest stems from the increased pressure on land-based resources, and it is expected that this interest in maritime economics will increase (Hosking, Lee, Kaczynsky, Hosking, du Preez and Haines, 2014). A few studies have been undertaken in order to investigate the ocean’s economic contribution in South Africa (Hosking et al., 2014). However, there are other, often overlooked, benefits that the ocean may bring to localised economies, namely its contribution to residential property markets. Over the last decade, this area of research has received considerable international attention (Rinehart and Pompe, 1994; Rush and Briggink, 2000; Taylor and Smith, 2000; Boarnet and Chalermpong, 2001; Major and Lusht, 2004; Conroy and Milosch, 2009; Scorse, Reynolds and Sackett, 2015). The studies revealed the existence of an ocean premium, which is an additional amount added to the value of a home due to it being located near the ocean. However, from a South African perspective, there is a lack of studies in this area. This study seeks to contribute to the body of knowledge by determining the effect of ocean proximity on property prices in Summerstrand, a suburb in Port Elizabeth. The hedonic price model is applied in this regard. A sample size of 104 properties was used for the study, and the various characteristics of the properties obtained from multiple sources. Most importantly, sales prices were obtained from the South African Property Transfer Guide (SAPTG). As the houses were sold in different time periods, it was necessary to adjust the prices to constant 2016 rands. The ABSA house price index was used for this, in order to account for any inflationary changes over the various periods. The results of the study revealed that proximity to the ocean had a statistically significant positive effect on adjacent residential property prices in Summerstrand, Port Elizabeth. More specifically, proximity to the ocean is valued at between R133.35 and R329.59 per meter closer to the ocean. From a policy perspective, quantifying this coastal premium in Port Elizabeth may encourage the continued conservation of marine resources within Nelson Mandela Bay. Various studies have shown the positive impact conservation has on property prices, resulting in significant premiums being attached to housing prices, even when property characteristics changed (Leeson, 2012; Chamblee, Colwell, Dehring and Depken, 2011). Economic analysis, which includes hedonic pricing, has also had an impact on the evaluation of environmental policies, with Government agencies being the first to fund studies in order to determine the effects of various externalities on housing prices. On the other hand, litigation has had an even more significant impact on policies, due to it being more tangible evidence (Palmquist and Smith, 2001). The manner in which government, and other bodies, assess and measure property values can also be improved upon. Through the separation of housing characteristics, the true value of the property can be determined. This can result in improved accuracy of property tax calculations, and a more accurate value of future developments (Gilbert, 2013). This can help ensure no unnecessary cost expenditure by both government, and property developers, especially considering the volatile nature of the housing market (Gilbert, 2013). The results of this dissertation are subject to two important qualifications. Firstly, the study does not account for the imperfect information that might be present in the market. Secondly, the relatively small sample size could limit the results

Determining the effect of ocean proximity on residential property prices in Port Elizabeth

Economic contribution studies, including those from a maritime perspective, are of great interest to both governmental and non-governmental organisations, as well as researchers. This interest stems from the increased pressure on land-based resources, and it is expected that this interest in maritime economics will increase (Hosking, Lee, Kaczynsky, Hosking, du Preez and Haines, 2014). A few studies have been undertaken in order to investigate the ocean’s economic contribution in South Africa (Hosking et al., 2014). However, there are other, often overlooked, benefits that the ocean may bring to localised economies, namely its contribution to residential property markets. Over the last decade, this area of research has received considerable international attention (Rinehart and Pompe, 1994; Rush and Briggink, 2000; Taylor and Smith, 2000; Boarnet and Chalermpong, 2001; Major and Lusht, 2004; Conroy and Milosch, 2009; Scorse, Reynolds and Sackett, 2015). The studies revealed the existence of an ocean premium, which is an additional amount added to the value of a home due to it being located near the ocean. However, from a South African perspective, there is a lack of studies in this area. This study seeks to contribute to the body of knowledge by determining the effect of ocean proximity on property prices in Summerstrand, a suburb in Port Elizabeth. The hedonic price model is applied in this regard. A sample size of 104 properties was used for the study, and the various characteristics of the properties obtained from multiple sources. Most importantly, sales prices were obtained from the South African Property Transfer Guide (SAPTG). As the houses were sold in different time periods, it was necessary to adjust the prices to constant 2016 rands. The ABSA house price index was used for this, in order to account for any inflationary changes over the various periods. The results of the study revealed that proximity to the ocean had a statistically significant positive effect on adjacent residential property prices in Summerstrand, Port Elizabeth. More specifically, proximity to the ocean is valued at between R133.35 and R329.59 per meter closer to the ocean. From a policy perspective, quantifying this coastal premium in Port Elizabeth may encourage the continued conservation of marine resources within Nelson Mandela Bay. Various studies have shown the positive impact conservation has on property prices, resulting in significant premiums being attached to housing prices, even when property characteristics changed (Leeson, 2012; Chamblee, Colwell, Dehring and Depken, 2011). Economic analysis, which includes hedonic pricing, has also had an impact on the evaluation of environmental policies, with Government agencies being the first to fund studies in order to determine the effects of various externalities on housing prices. On the other hand, litigation has had an even more significant impact on policies, due to it being more tangible evidence (Palmquist and Smith, 2001). The manner in which government, and other bodies, assess and measure property values can also be improved upon. Through the separation of housing characteristics, the true value of the property can be determined. This can result in improved accuracy of property tax calculations, and a more accurate value of future developments (Gilbert, 2013). This can help ensure no unnecessary cost expenditure by both government, and property developers, especially considering the volatile nature of the housing market (Gilbert, 2013). The results of this dissertation are subject to two important qualifications. Firstly, the study does not account for the imperfect information that might be present in the market. Secondly, the relatively small sample size could limit the results

The integrated quality management system in education.

Thesis (MBA)-University of KwaZulu-Natal, Pietermaritzburg, [2006]The general problem was that vast resources (time, money, etc.) have been invested in the Integrated Quality Management System. Besides the generally positive feedback it was not yet known for certain to what extent IQMS contributed to the perception of improved educator performance and the problems which existed with the implementation. The objectives of this dissertation were to determine what the perceived impact of the Integrated Quality Management System on Educator Performance was and prove the validity of a proposed model of factors related to Educator Performance. In order to construct a theoretical frame of reference of the existing knowledge, an extensive literature review of the Performance Management theory in the private sector was followed by a review of the Department of Education publications about the practical implementation of these principles in the management of educator performance in schools by means of the Integrated Quality Management System. Both qualitative (a pilot study consisting of several in depth interviews with educators and principals) and quantitative research (a questionnaire based on the literature study, objectives and hypothesis and using a five point Likert scale) methods were used to determine the impact ofthe implementation of Integrated Quality Management System on Educator Performance in South African public schools. The results from the four hundred and twelve respondents were analysed with the aid of the EXCEL and SPSS computer programmes. It was found that the implementation of the Integrated Quality Management System has contributed significantly to all areas of perceived Education Performance, i.e. structure, staff development, motivation, class visits, feedback, goal setting, problem solving and forms. The IQMS was negatively related to disciplinary management. The non parametric nature of the data could not allow for statistical techniques such as multiple regressions to be run, but the proposed model still revealed itself as valid in the factor analysis. It was concluded that the Integrated Quality Management System has done what it was meant to do: it had a positive impact on perceived Educator Performance. Furthermore, it was found that the factors: structure, staff development, motivation, class visits, feedback, goal setting, problem solving, accurate scores and disciplinary measures had a significant relation with perceived Educator Performance. It was recommended that the success story of the implementation of the Integrated Quality Management System be made public, neutral educators be brought on board, the accuracy of the scores be upgraded and even more structure added to the staff development programme. It was also recommended that School Management Teams be trained in motivating staff, class visits be increased and feedback to staff on their performance be improved. It was also recommended that School Management Teams be trained in goal setting programmes and the implementation of the Educator Performance Model

A model for measuring and predicting stress for software developers using vital signs and activities

Occupational stress is a well-recognised issue that affects individuals in various professions and industries. Reducing occupational stress has multiple benefits, such as improving employee's health and performance. This study proposes a model to measure and predict occupational stress using data collected in a real IT office environment. Different data sources, such as questionnaires, application software (RescueTime) and Fitbit smartwatches were used for collecting heart rate (HR), facial emotions, computer interactions, and application usage. The results of the Demand Control Support and Effort and Reward questionnaires indicated that the participants experienced high social support and an average level of workload. Participants also reported their daily perceived stress and workload level using a 5- point score. The perceived stress of the participants was overall neutral. There was no correlation found between HR, interactions, fear, and meetings. K-means and Bernoulli algorithms were applied to the dataset and two well-separated clusters were formed. The centroids indicated that higher heart rates were grouped either with meetings or had a higher difference in the center point values for interactions. Silhouette scores and 5-fold-validation were used to measure the accuracy of the clusters. However, these clusters were unable to predict the daily reported stress levels. Calculations were done on the computer usage data to measure interaction speeds and time spent working, in meetings, or away from the computer. These calculations were used as input into a decision tree with the reported daily stress levels. The results of the tree helped to identify which patterns lead to stressful days. The results indicated that days with high time pressure led to more reported stress. A new, more general tree was developed, which was able to predict 82 per cent of the daily stress reported. The main discovery of the research was that stress does not have a straightforward connection with computer interactions, facial emotions, or meetings. High interactions sometimes lead to stress and other times do not. So, predicting stress involves finding patterns and how data from different data sources interact with each other. Future work will revolve around validating the model in more office environments around South Africa.Thesis (MSc) -- Faculty of Science, School of Computer Science, Mathematics, Physics and Statistics, 202