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Property Markets and Valuations (ABPL90274)
Graduate courseworkPoints: 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 1
Email: piyush.tiwari@unimelb.edu.au
Overview
| Availability | Semester 1 |
|---|---|
| Fees | Look up fees |
This Masters level subject is designed to introduce the fundamental concepts required for understanding how property markets function and/or operate, as well as the basic valuation techniques required for determining the value of real property.
It serves both the new 300 point Master of Property and the Graduate Diploma of Property Valuation, which are courses taught within the Melbourne School of Design.
This is a foundation subject and is meant for students who are relatively new to the property education. The emphasis of this subject is to introduce students to the main systems and relationships which govern the operation of property markets, with particular reference to the valuation of commercial property in Australia.
The subject examines market analysis and valuation techniques as they apply to real property. The main areas to be covered include:
- To set property within an economic context
- To examine property as a set of linked markets, functionally divided between use, investment and development
- To critically evaluate the role that regulations and planning play in the property markets
- Typical valuation processes focussing on direct comparison, direct capitalization method, discounted cash flow method and residual method.
Intended learning outcomes
On completion of the module, you should be able to:
- Formulate general explanations of property market behaviour
- Explain sources that create or and limit property value
- Identify and interpret property market data
- Develop an understanding of the nature and role of the valuation profession, as well as develop skill sets geared towards property valuation techniques
Generic skills
Upon successful completion of this subject students will have had the opportunity to develop the following generic skills:
- Communication skills: written and graphic skills developed through preparation of a market analysis and valuation report and verbal communication skills developed through client presentation of the report and tutorial discussions;
- Research and professional skills: problem definition, identification of data sources, and analysis of property data, developed through tutorial exercises and report preparation;
- IT skills: use of appropriate word processing, data and graphics packages for report preparation, excel skills in preparing valuation and introduction to electronic information sources (WWW, on-line, CD-ROM);
- Spreadsheet skills: through familiarity and use of financial and statistical functions as applied in property valuation;
- Synthesis and professional application: conceptualisation of property markets, and policy evaluation, developed through tutorial exercises and report preparation;
- Personal skills: individual time management, self-directed reading and information gathering.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
Admission to the Melbourne School of Design.
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Basic abilities in Excel spreadsheet construction.
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: 3 November 2022
Assessment
Additional details
- Written assignment 1 (1500 words per student), due week 6 (20%);
- Written assignment 2 (1500 words per student), due week 11 (20%);
- A group presentation (3-4 students) of duration at most 10 minutes, week 10 (10%);
- Two hour examination, at the end of semester (50%).
Last updated: 3 November 2022
Dates & times
- Semester 1
Principal coordinator Piyush Tiwari Mode of delivery On Campus (Parkville) Contact hours 36 hours: 24 hours of lectures; 12 hours of tutorials. Total time commitment 170 hours Teaching period 27 February 2017 to 28 May 2017 Last self-enrol date 10 March 2017 Census date 31 March 2017 Last date to withdraw without fail 5 May 2017 Assessment period ends 23 June 2017 Semester 1 contact information
Email: piyush.tiwari@unimelb.edu.au
Time commitment details
170 Hours
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
Ling, D C and Archer, W R (2008), Real Estate Principles: a Value Approach, McGraw-Hill.
Reed, R (ed.) (2007), Valuation of Real Estate, Deakin, ACT: Australian Property Institute.
RICS (2001), Commercial Investment Property: valuation methods
Geltner, D, Miller, N, Clayton, J and Eichholtz, P (2007), Commercial Real Estate Analysis and Investment, 2nd edition, South-Western.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Graduate Diploma in Property Valuation Course Master of Property Major 300 point Master of Property - 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.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 3 November 2022