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Principles of Property Valuation (ABPL20004)
Undergraduate level 2Points: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 2
Email:haow@unimelb.edu.au
Overview
Availability | Semester 2 |
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Fees | Look up fees |
Property and property valuation matter, Residential and commercial properties form a substantial part of a nation’s wealth. The practice of quantifying the wealth of landed resources affects the stability of the local, the national and the global markets.
Building on prior study of ENVS10003 Constructing Environments and ABPL20031 Property Principles, this core subject for the Bachelor of Environments property major introduces students to the main systems and relationships which govern the generation of opinions of market value for urban property held under freehold title in Victoria. Topics include: value and market value; the property market; the valuation profession; methods of valuation; the valuation process; factors influencing value; direct comparison; data collection; data analysis; procedures for determining and reporting value; the main valuation methods; valuation of property leased at market rent.
Intended learning outcomes
This subject will offer a learning environment that will enable you to:
- Develop your understanding of the nature property value and the role of the valuation profession, the property market and property valuation methods;
- Develop skills and knowledge appropriate for selecting, analysing and synthesising material of relevance to the conduct of property valuation;
- Access a comprehensive range of information sources, relevant to the valuation of real property;
- Analyse, evaluate and criticise relevant materials, supported by reasoned argument and generate independent opinions of value; and
- Prepare, synthetise and present valuation report at an appropriate standard for academic and professional purposes.
Generic skills
- Analytical skills – an enquiring and analytical approach to the conduct of property valuation;
- Problem solving skills – an increased body of knowledge associated with resolution of contemporary issues and practices in property valuation using hypothetical problem in tutorials discussions and use real-life valuation project in the main assignment;
- Team working skills – an enhanced ability to generate and communicate urban property valuation outcomes at an appropriate academic and professional standard;
- Communication skills – an enhanced ability to communicate property valuation opinions and other outcomes through written and oral presentation.
Last updated: 11 April 2024
Eligibility and requirements
Prerequisites
The subject below or an equivalent.
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ABPL20031 | Principles of Property | Semester 1 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
Code | Name | Teaching period | Credit Points |
---|---|---|---|
No longer available |
Code | Name | Teaching period | Credit Points |
---|---|---|---|
PROP30001 | Valuation of Land and Buildings | Not available in 2024 |
12.5 |
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 11 April 2024
Assessment
Additional details
- One examination of two hours duration at the end of semester (60%);
- One individual assignment comprising a portfolio of short essays and inspection reports equivalent to 1000 words due mid semester, (20%);
- One group-based valuation report, 1000 words per student ,due end of semester (20%).
Hurdle requirement: A minimum grade of 40% must be achieved in the examination in order to pass the subject.
Last updated: 11 April 2024
Dates & times
- Semester 2
Principal coordinator Hao Wu Mode of delivery On Campus (Parkville) Contact hours 36 hours (One x 2 hour lecture and one x 1 hour tutorial per week) Total time commitment 170 hours Teaching period 24 July 2017 to 22 October 2017 Last self-enrol date 4 August 2017 Census date 31 August 2017 Last date to withdraw without fail 22 September 2017 Assessment period ends 17 November 2017 Semester 2 contact information
Email:haow@unimelb.edu.au
Time commitment details
170 Hours
Last updated: 11 April 2024
Further information
- Texts
Prescribed texts
Valuation of Real Estate, published by Australian Property Institute, 2007.
- Related Handbook entries
This subject contributes to the following:
Type Name Informal specialisation Non- allowed Breadth Subjects within the Bachelor of Design - relating to specific majors Informal specialisation Environments Discipline subjects Major Property Major Construction Breadth Track Property Breadth Track Property in the Urban Economy - Breadth options
This subject is available as breadth in the following courses:
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Last updated: 11 April 2024