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Professor David Parker 

Position: Professor of Property Professor David Parker
Division/Portfolio: University of South Australia Business School
School/Unit: School of Commerce
Campus: City West Campus
Office: WL4-31
Telephone: +61 8 830 27021
Fax: +61 8 830 20992
Email: David_dot_Parker_at_unisa_dot_edu_dot_au
URL for Business Card: http://people.unisa.edu.au/David.Parker
(David Parker is currently on leave - last day on leave is Thursday, 31 July 2014)


Professor Parker joined the School of Commerce as the inaugural Professor of Property in November 2009 from private practice in Sydney. David has academic qualifications in property and is a member of each of the principal professional bodies in property and finance as well as being a registered valuer in several states and a licensed real estate agent.

He is currently an Acting Commissioner of the New South Wales Land and Environment Court, specialising in the resolution of property valuation and compensation matters, as well as being a member of the Consultative Committee to the Australian Accounting Standards Board. David is a member of the RICS Valuation Standards Board (International-London), RICS Valuation Board (Oceania-Sydney), Executive Director of the Pacific Rim Real Estate Society and Editor of the Pacific Rim Property Research Journal (ERA B rated).

David has held a range of senior management positions with ANZ Funds Management, Suncorp Metway Investment Management and Schroders Property Fund. He has also undertaken consulting roles with Cap Gemini Ernst and Young and AREIT analysis roles with Morningstar. As General Manager of the Australian Valuation Office, David implemented a business transformation programme that was highly commended in the Prime Ministers Awards for Public Sector Management.

Professor Parker is an internationally recognised research scholar, being the Editor of the ERA 'B' ranked Pacific Rim Property Research Journal. David has over 25 papers published in recognised refereed journals and has given over 45 conference papers, including three keynote addresses, with his most recent book, Global REITs: People, Process and Management, published in late 2011 and his next book on international valuation standards due for release in early 2013. David is a member of the Pacific Rim Real Estate Society, the UK Society of Property Researchers, the American, Asian and European Real Estate Societies and the American Real Estate and Urban Economics Association. He is also an editorial referee for both the Journal of Property Research and Property Management.

David is regularly called upon as an expert witness in property, valuation and funds management matters and consults extensively to both the private and public sectors.


Teaching interests

  • Ethics in Property
  • International Property
  • Property Decision Making
  • Property Finance
  • Property Funds Management
  • Property Investment
  • Property Valuation
  • Real Estate Investment Trusts
  • Valuation and Accounting Standards

I teach the following courses

BUSS 3076Property Practice
BUSS 3059Property, People and Place
BANK 3007Property Investment


Professional associations

Fellow, Royal Institution of Chartered Surveyors
Fellow, Australian Property Institute
Senior Fellow, Financial Services Institute of Australasia
Fellow, Australian Institute of Management,
Fellow, Australian Institute of Company Directors


Qualifications

Doctor of Philosophy (Property Economics), University of Technology Sydney (1997)
Master of Philosophy, University of New South Wales (2012)
Master of Business Administration, Melbourne Business School (2006)
Master of Commerce (Property), University of Western Sydney (1992)
Bachelor of Science (Land Management), University of Reading (1982)


Research interests

  • Valuation theory
  • The interaction between property valuation standards and accounting standards
  • Property investment decision making
  • The role of optionality in property pricing and modelling
  • Governance and the role of directors in property funds management

Research publications

Books

REITs: People, Process and Management, Blackwell, Oxford (2011)
Cities In The Pacific Rim: Planning Systems And Property Markets, Chapter 13 - Melbourne, Contributing Author, Editors: Berry, J and McGreal, S, (1999)
Property Into The Next Millennium, Australian Land Economics Review Special Edition, Editor, 2000
REIT Property Investment Decision Making: Theory and Practice, upublished thesis for the Degree of Master of Philosophy, University of New South Wales
International Valuations Standards, in preparation, Blackwell, Oxford (2014)

Monographs

Risk, Continuing Professional Development Module, Editor, Australian Institute Of Valuers And Land Economists/University Of Western Sydney, July 1993
Determinants Of The Capitalisation Rate - Relative And Proportionate Importance, AIVLE Research Note, Issue 11, May 1994
Corporate Real Estate Outsourcing - Opportunities For Australia, Property Council Of Australia, June 1997
Adjusting Comparable Capitalisation Rate Evidence: Guidance For Practitioners, Royal Institution Of Chartered Surveyors Research Paper, Vol 3, No 3,1999 (UK)
DCF Practice Standard And Guidance Note, (jointly authored with Professor Robinson, University of Melbourne), Australian Property Institute, (publication pending)
An Assessment Of Generic Software Packages Used By Property Fund Managers In Australia, Cooperative Research Centre For Construction Innovation, June 2003
Valuation of Fractional Interests Guidance Note, (jointly authored with Wayne Lonergan, Alan Fife and Alex Fabbri), Australian Property Institute, 2004
Valuations For Offer Documents Guidance Note, Australian Property Institute, 2006
Assessing Rental Value Guidance Note, Australian Property Institute, 2007
The Future of Property Education in Australia, Monograph of the Pacific Rim Real Estate Society, PRRES, Sydney (2011)
Decision Making by Australian Property Funds, RICS Research Report, RICS, London (2012)

Refereed Journals

How Should A Valuer Approach Incentives?, The Valuer, February 1991 (Australia)
Impact Of The Cooling Cases On The Australian Property Markets, Land Economics Review, Summer/Winter 1992 (Australia)
How Important Is Security Of Income In The Valuation Of CBD Office Buildings?, The Valuer & Land Economist, August 1992 (Australia)
Location, Location - And Who's Paying The Rent, Journal Of the Securities Institute Of Australia, September 1992 (Australia)
Analysis Of The Relative Importance Of Security Of Income As A Determinant Of The Capitalisation Rate For CBD Office Investment Property In Sydney, Journal Of Property Research, 9, 1992 (UK)
Aspects Of A Depressed Property Market - Some Issues Facing Valuers, The Valuer & Land Economist, February 1993 (Australia)
Sydney Office Valuations - Where Next?, The Valuer & Land Economist, February 1994 (Australia)
Determinants Of The Capitalisation Rate - A Hierarchical Framework, Appraisal Journal, April 1994 (USA)
A Note On Temporal Variation In Determinants Of The Capitalisation Rate, Journal Of Property Research, 11, 1994 (UK)
Valuation By Capitalisation - A Review Of Comments By International Practitioners, Journal Of Real Estate Literature International Section, 4:37-45, 1996 (USA)
Corporate Real Estate - An Untapped Opportunity For Property Academia, Australian Land Economics Review, Vol 3, No 2, 1997 (Australia)
A Note On Valuation Accuracy: An Australian Case Study, Journal Of Property Investment And Finance, Vol 17, No 4, 401-411, 1999 (UK)
A Brief History Of The Australian Discounted Cash Flow Practice Standard, joint paper with Professor Jon Robinson, Journal of Property Investment and Finance, 18/2, 196-211, 2000 (UK)
Observations On Trends In Institutional Property Valuation, Australian Property Journal, February 2001 (Australia)
Forecasting Property Market Cycles: An Application Of The RICS Model To The Sydney CBD Office Market, Journal of Financial Management of Property and Construction, 2003 (Singapore)
Property – Are Current Risk Management Practices Appropriate?, Journal of the Securities Institute of Australia, Autumn 2004 (Australia)
DCF1 – How Does The Property Fund Management Industry Do Discounted Cash Flow?, Australian Property Journal, February 2004 (Australia)
DCF2 – Impacts on Valuers of Trends in Property Fund Management, Australian Property Journal, August 2004 (Australia)
DCF3 – Commentary of IVSC Guidance Note No 9, Australian Property Journal, November 2004 (Australia)
DCF4 – Theory and Practice: The State of Play, Australian Property Journal, August 2005 (Australia)
Towards A Coherent Theory of Valuation, Pacific Rim Property Journal, December 2006 (Australia)
ANZVGN7: Partial Interests, Australian Property Journal, March 2007 (Australia)
Valuations For Use in Offer Documents, Australian Property Journal, Vol 17, No 2, June 2007 (Australia)
Accounting for Owner-Occupied Property: Goldmine or Landmine?, Journal of the Securities Institute of Australia, Issue 2, 2008 (Australia)
Valuation of Green Buildings – Is Greed Becoming Fear?, Australian Property Journal, September 2008 (Australia)
Accounting for Owner-Occupied Property: Goldmine or Landmine?, Australia and New Zealand Property Journal, March, 2009 (Australia)
Impact of Agency Issues on Australian REIT Performance, Pacific Rim Property Journal, July 2009 (Australia)
Valuation of Airports for Financial Reporting: Fair Value?, Journal of Property Investment and Finance, Vol 29, Issue 6, 2011 (UK)
Developments in Valuation and Assessment: an Australian Case Study, Property Management, co-author, Vol 30, No 1, 2012 (ERA ‘B’ rated)
Testing for Quality Assurance in the Property Taxation Base Using Spatial Analysis, co-author, Journal of Spatial Sciences, co-author, Vol 57, No 2 2013(ERA ‘B’ rated)

Other Publications

Lease Incentives And Rent Review, Estates Gazette, Issue 9128, 20th July 1991 (UK)
Valuation Of Central Business District Offices, Estates Gazette, Issue 9224, 20th June 1992 (UK)
Leasing Incentives In Australia, Estates Gazette, Issue 9231, August 1992 (UK)
Parker Views US Tax, Property, Building Owner & Manager, September and October 1992 (Australia)
Property Valuers In The Hot Seat As Experts Disagree, Building Owner & Manager, June 1993 (Australia)
Tenants Determine Sydney Values, Estates Gazette, 24th July, 1993 (UK)
CRE - A Major Growth Sector, Property Australia, October 1997 (Australia)
Globalisation of the Professions, ASX Perspective, 2000
Why Capitalisation Rates Of Single-Tenant Properties Vary – A Personal Defence, Letter to the Editor, Appraisal Journal, April 2000
User Therapy For DYNA And Cougar Jockeys, Property Australia, May 2004
Valuation of Green Buildings – Is Greed Becoming Fear?, IPD Year Book, 2008

Keynote Seminar and Conference Papers

Discount Rates: Back To The Future?, AIVLE National Biennial Conference, Surfers Paradise, 7th May 1997
Superannuation: Where Is The Money Going?, API Annual Conference, Adelaide, 3rd September, 1999
An Institutional Perspective On Property Research, Pacific Rim Real Estate Society Conference, Sydney, 25th January 2000
Conference Chair, The Future of Property Education, Univeristy of South Australia, Adelaide, 5 August 2011
Conference Chair, Real Options: The Future of Property Investment and Property Valuation?, RICS Foundation and University of South Australia, Adelaide, 18-20 January 2012

Seminar and Conference Papers

Lease Incentives And Rent Review, Australian Institute Of Valuers & Land Economists, Sydney, 20th March 1991
Investing In Property In A Low Inflation Environment, Securities Institute Of Australia, Sydney, 24th September 1991
Aspects Of A Depressed Property Market - Some Issues Facing Valuers, 16th Pan Pacific Congress, Calgary, 5th June 1992
Property Portfolio Analysis, Australian Institute Of Valuers & Land Economists, Sydney, 19th August 1992
Retail Investment Property, AIC Conferences, Sydney, 13th October 1992
Analysis Of Importance Of Security Of Income As A Determinant Of Capitalisation Rates, Australasian Real Estate Educators Conference, Sydney, 27th January 1993
Determinants Of The Capitalisation Rate For CBD Office Buildings, 9th Annual American Real Estate Society Meeting, Florida, 16th April 1993
Forecasting: The State Of Play, Royal Institution Of Chartered Surveyors And Australian Institute Of Valuers And Land Economists, Sydney, 8th March 1994
Determinants Of The Capitalisation Rate, FIG XX Congress, Melbourne, 10th March 1994
Determinants Of Capitalisation Rates For Sydney CBD Office Buildings, AIVLE National Biennial Conference, Sydney, 5th May 1994
The Inter-Relationships Between Determinants Of The Capitalisation Rate - Some Empirical Research, First Annual Pacific Rim Real Estate Society Conference, Melbourne, 23rd January 1995
Property Portfolio Analysis And Management, AIC Conferences, Sydney, 16th September, 1996
The Role Attributed By Valuers To The Economic Situation As A Determinant Of The Capitalisation Rate - Some Empirical Research, Third Annual Pacific Rim Real Estate Society Conference, New Zealand, 22nd January 1997
Spatial Relationships Between Determinants Of The Capitalisation Rate, American Real Estate Society Meeting, Sarasota, Florida, 19th April 1997
Current Issues In International Property Investment, 64th FIG PC Meeting & Symposium, Singapore, 14th May 1997
Discount Rates - The Various Current Approaches, Australian Institute Of Valuers And Land Economists Seminar, Sydney, 16th June 1997 and Melbourne, 10th July 1997
Outsourcing For Profit, Property Council Of Australia Congress, Sydney, 8th September 1997
Valuation Accuracy - An Australian Perspective, Fourth Pacific Rim Real Estate Society Conference, Perth, 20th January 1998
Do Valuers Add Value?, Securities Institute Of Australia And Australian Institute Of Valuers And Land Economists, Sydney, 18th May 1998 and Brisbane, 25th June, 1998
A Brief History Of The Australian Discounted Cash Flow Practice Standard, joint paper with Professor Jon Robinson, World Valuation Congress, Melbourne, 21st April 1999
Observations On The Use Of Generic Software For The Valuation Of Major Investment Properties, Seventh Annual Pacific Rim Real Estate Society Conference, January 2001
Forecasting Property Market Cycles: An Application Of The RICS Model To Australian Property Markets, joint paper with Associate Professor John MacFarlane and Karen Whiley, Seventh Annual Pacific Rim Real Estate Society Conference, January 2001
Generic Software Packages: A Critical Evaluation, joint paper with Professor Jon Robinson, World Valuation Congress IX, Singapore, 26th-29th April 2001
Forecasting Property Market Cycles: An Application Of The RICS Model To The Sydney CBD Office Market, joint paper with Associate Professor John MacFarlane, Dr Jane Murray and Vincent Peng, RICS Cutting Edge Conference, Oxford, 7th September, 2001
Forecasting Property Market Cycles: An Application Of The RICS Model To The Sydney CBD Office Market, joint paper with Associate Professor John MacFarlane, Dr Jane Murray and Vincent Peng, Eighth Annual Pacific Rim Real Estate Society Conference, Christchurch, January 2002
The Australian Discounted Cash Flow Standard: Progress, Issues And Implications, Eighth Annual Pacific Rim Real Estate Society Conference, Christchurch, January 2002
Property Valuation Software Packages: An Evaluation, joint paper with Professor Jon Robinson, Eighth Annual Pacific Rim Real Estate Society Conference, Christchurch, January 2002
Generic Software Packages: A Concept For Best Practice, Ninth Annual Pacific Rim Real Estate Society Conference, Brisbane, January 2003
Generic Software Packages: A Survey Of Property Fund Managers, Tenth Annual Pacific Rim Real Estate Society Conference, Bangkok, January 2004
Future Direction Of The Profession, Australian Property Institute, Canberra, February 2004
Urban Trees – Valuation Issues and Challenges, Eleventh Annual Pacific Rim Real Estate Society Conference, Melbourne, January 2005
Price vs Value vs Worth: A Capital Markets Context, Eleventh Annual Pacific Rim Real Estate Society Conference, Melbourne, January 2005
Transformational Change in the Australian Valuation Office, Valuer General’s Conference, 2006
Automated Valuation Models: A Practitioner Perspective, Twelfth Annual Pacific Rim Real Estate Society Conference, Auckland, January 2006
Transformational Change in the Australian Valuation Profession, Twelfth Annual Pacific Rim Real Estate Society Conference, Auckland, January 2006
The Role of Director’s Valuations in Balance Sheet Reporting, Thirteenth Annual Pacific Rim Real Estate Society Conference, Fremantle, January 2007
Developing an Appraisal based Residential Property Index, (co-author) Thirteenth Annual Pacific Rim Real Estate Society Conference, Fremantle, January 2007
REIT Management: Toward Best Practice, 23rd Annual Pacific American Real Estate Society Conference, San Francisco, April 2007
Textbook Approaches to REIT Management, Fourteenth Annual Pacific Rim Real Estate Society Conference, Kuala Lumpur, January 2008
Valuation of Green Buildings – Greed Becoming Fear?, ADPIA Learning Day, Sydney, May 2008
Impact of Board Composition on Australian REIT Performance, Fifteenth Annual European Real Estate Society Conference, Krakow, June 2008
Valuing Yesterday’s Office Buildings, RICS Conference, Sydney, July 2008
AREIT Investment Strategy: A Desktop Review, Fifteenth Annual Pacific Rim Real Estate Society Conference, Sydney, January 2009
Impact of Board Composition on Australian REIT Performance, Fifteenth Annual Pacific Rim Real Estate Society Conference, Sydney, January 2009
Valuing Today Using IVSC Guidance Notes and Modern Valuation Techniques, Valuing Property Without Transactions, RICS-FinSIA Seminar, Sydney, March 2009
REIT Investment Decision Making: A Literature Review, Sixteenth Annual European Real Estate Society Conference, Stockholm, June 2009
REIT Investment Decision Making: A Multi Step Process?, Sixteenth Annual Pacific Rim Real Estate Society Conference, Wellington, January 2010
REIT Investment Decision Making: A Practitioner Survey, Twenty Sixth Annual American Real Estate Society Conference, Naples, April 2010
Developments in Valuation and Assessment: An Australian Case Study, co-presented with Lockwood, T and Marano, W, Thirteenth International Property Tax Institute Conference, Adelaide, April 2010
For the Defence of Spencer, API SA Seminar, Adelaide, 24th May 2010
Impact of Green Features on CBD Office Building Rentals: An Adelaide Case Study, Seventeenth Annual European Real Estate Society Conference, Milan, June 2010
Investing in AREITs: Theory and Practice, University of South Australia Knowledge Works Public Lecture Series, Adelaide, 29th July 2010
AREITs Performance Analysis, Panel Chairman, Real Estate Investment World Conference, Sydney, 10th August 2010
REIT Investment Decision Making: A Practitioner Survey, Seventeenth Annual Pacific Rim Real Estate Society Conference, Surfers Paradise, January 2011
Mass Appraisal Certification Standards – The Spatial Dimension, with Lockwood T and Marano W, Seventeenth Annual Pacific Rim Real Estate Society Conference, Surfers Paradise, January 2011
Investing in AREITs: Theory and Practice, Australian Property Institute, Adelaide, 17th February 2011
Australian REIT Market Collapses: A Thirty Year Comparison, Twenty Seventh Annual American Real Estate Society Conference, Seattle, April 2011
Just Do It!: Juggling Research, Teaching, Administration, Professional and Community Service, UniSA Managing Your Career Workshop, Adelaide, May 2011
Outlook For REITs, Chairman, FinSIA Seminar, Sydney, May 2011
Valuation Standards in South East Asian Countries, Asian Real Estate Society Conference, Jeju Island, July 2011
The Future of Property Education in Australia, Eighteenth Annual Pacific Rim Real Estate Society Conference, Adelaide, January 2012
The Role of Software in Property Development, Eighteenth Annual Pacific Rim Real Estate Society Conference, Adelaide, January 2012
REIT Property Investment Decision Making: Theory and Practice, European Real Estate Society Conference, Edinburgh, June 2012
Unlisted Property Fund Decision Making: Market Survey Preliminary Findings, Nineteenth Annual Pacific Rim Real Estate Society Conference, Melbourne, January 2013
Preliminary Proposition of a General Theory of Property Investment Decision Making, Asian Real Estate Society Conference, Kyoto, June 2013
Preliminary Proposition of a General Theory of Property Investment Decision Making, European Real Estate Society Conference, Vienna, July 2013


Expertise for Media Contact

I am able to provide media comment in the following areas of expertise:

Discipline: Property

  • Property Valuation
  • Property Investment
  • Property Finance
  • Property Funds Management
  • Real Estate Investment Trusts
  • Valuation and Accounting Standards
  • Property Decision Making
  • Ethics in Property
  • International Property

Community Service

Organisation Name:   Women's Housing SA
Type of Organisation:   Community organisation
Level of involvement:   Property Adviser
Year from:   2011


Research Degree Supervisor

Property investment, finance, valuation and development, REITs, unlisted products




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