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Design and Property Principles (PROP20002)

Undergraduate level 2Points: 12.5On Campus (Parkville)

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Overview

Year of offer2019
Subject levelUndergraduate Level 2
Subject codePROP20002
Campus
Parkville
Availability
Semester 1
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

Students admitted into the Bachelor of Design are required to complete:

Code Name Teaching period Credit Points
PROP10001 Economics and Cities
Semester 2
12.5

It is recommended to take PROP20001 Finance for Built Environment concurrently.

Students admitted into the Bachelor of Commerce are required to complete:

One of the following Subjects:

Code Name Teaching period Credit Points
ECON10003 Introductory Macroeconomics
Summer Term
Semester 1
Semester 2
12.5
ECON10004 Introductory Microeconomics
Semester 1
Semester 2
12.5

Students admitted into admitted into the Bachelor of Environments are required to complete:

One of the following Subjects:

Code Name Teaching period Credit Points
ECON10003 Introductory Macroeconomics
Summer Term
Semester 1
Semester 2
12.5
ECON10004 Introductory Microeconomics
Semester 1
Semester 2
12.5

And VCE Mathematical Methods 3 and 4, or equivalent OR

Code Name Teaching period Credit Points
MAST10012 Introduction to Mathematics
Summer Term
Semester 1
12.5

Corequisites

None

Non-allowed subjects

Code Name Teaching period Credit Points
ABPL20031 Principles of Property 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

  • Semester 1
    Principal coordinatorDermot Mcgeown
    Mode of deliveryOn Campus — Parkville
    Contact hours36 hours
    Total time commitment170 hours
    Teaching period 4 March 2019 to 2 June 2019
    Last self-enrol date15 March 2019
    Census date31 March 2019
    Last date to withdraw without fail10 May 2019
    Assessment period ends28 June 2019

Time commitment details

170 hours

Further information

  • Texts

    Prescribed texts

    There are no specifically prescribed or recommended texts for this subject.

  • Breadth options
  • 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: 6 March 2019