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Design and Property Principles (PROP20002)

Undergraduate level 2Points: 12.5Not available in 2017

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Overview

Year of offerNot available in 2017
Subject levelUndergraduate Level 2
Subject codePROP20002
FeesSubject EFTSL, Level, Discipline & Census Date

This subject introduces students to the basic principles and business concepts of Property, through examination of the underlying drivers of commercial Property Development and Property Investment, the underlying systems and relationships – social, commercial, political, economic and environmental - which govern the operation of property markets with particular reference to urban property in Australia. More specifically, the subject examines the nature of property, property and site analysis, the statutory planning process to obtain a planning permit, property market research, and relevance of these processes to development of financial modelling and examination of property productivity, profitability and financial performance. In addition, there is an examination of the participants in the property industry, their roles and how they interact. Topics include:

  • the character of property and property interests;
  • the nature of markets and exchange;
  • property markets and their evolution;
  • stakeholders;
  • markets and sub-market characteristics;
  • highest and best use/most probable use and property potential analysis;
  • value and worth in the property context; property classes – residential, industrial, retail, commercial, other public and private sector interests;
  • market maturity;
  • property development process;
  • property investment;
  • site analysis;
  • underlying concepts associated with planning, planning policy and the statutory planning process;
  • market analysis and marketability analysis;
  • market analysis techniques;
  • the underlying sources of information that lead to the development of financial feasibility for investment property and property development;
  • how research and decisions related to assessments of site analysis, statutory planning and market research relate to the development of financial feasibility models, measurement of a property’s potential productivity, profitability and financial performance;
  • relevance of risk assessment, mitigation and management throughout feasibility process;
  • examination of data sources, collection, analysis, synthesis and review;
  • indicators of market movements.

Intended learning outcomes

Having completed this subject it is expected that the student be able to:

  • Understand the role of transdisciplinary design teams in conceptualising property design options;
  • Understand the dynamics of urban and regional economics, planning and development, and the emerging digital economy and translate for the design of cities and space creation;
  • Understand that macro and micro economic trends and social, cultural, strategic planning and political trends impact on design strategies and concepts for liveable cities and places;
  • Analyse strategic and statutory planning systems and their translation into design concepts, feasibility options and project developments;
  • Research and analyse property market drivers for the creation of market analysis and marketability studies.

Generic skills

Upon successful completion of this subject the student will have had the opportunity to develop the following generic skills:
1. Intellectual skills:

  • define a problem
  • identify the correct method of interpreting data and solving problem
  • synthesise knowledge and interpret the appropriateness of the solution
  • identify an issue and learn to discuss in a reflective manner

2. Research and professional skills

  • appreciate the value of listening attentively, selecting what is important, watching for signals for important points & identifying the structure of the presentation/lecture
  • competently use a calculator
  • apply and interpret financial mathematical techniques appropriate to the problem
  • interpret the financial pages

3. Transferable skills

  • competently communicate through a written essay/report
  • demonstrate research and professional skills through, for example, the quantitative analysis and interpretation of data
  • use standard word processing and spreadsheet packages
  • demonstrate basic time management skills

Eligibility and requirements

Prerequisites

Code Name Teaching period Credit Points
PROP10001 Economics and Cities
Semester 2
12.5
PROP20001 Finance for Built Environment 12.5

Corequisites

None

Non-allowed subjects

Code Name Teaching period Credit Points
ABPL20031 Principles of Property
Semester 1
12.5

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

Assessment

Description

  • Individual Assessment Task: One 90 minute mid semester examination (approximately 20-25 hours of work), week 8 (25%);
  • Individual Assessment Task: One 180 minute examination (approximately 40-55 hours of work), exam period (45%);
  • Individual Assessment Task: Ten in-lecture tests, (approximately 15-20 hours of work), due weeks 3 - 12 (20%);
  • Individual Assessment Task: Attendance at and Participation in Tutorials, during semester (10%). Examples of participation in tutorials:
  1. Tutorial questions will be provided to students in the latter part of the week prior to following weeks’ tutorials. Students will be required to complete a written answer sheet for hand-in and discussion at each tutorial. All questions will be required to be answered;
  2. Students will be required to be able to discuss, individually and as part of a group, matters related to those questions and matters raised in prior weeks’ tutorials and classes.

Hurdle requirements:
1. Students must achieve a mark of at least 40% in each of the first three assessment tasks
2. Students must attend at least 80% of all tutorial classes

Dates & times

Not available in 2017

Time commitment details

170 hours

Further information

Last updated: 14 August 2019