Principles of Property Valuation (ABPL20004)
Undergraduate level 2Points: 12.5On Campus (Parkville)
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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.
- 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: 30 March 2023