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Valuation of Land and Buildings (PROP30001)

Undergraduate level 3Points: 12.5Online

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Overview

Availability
Semester 1 - Online
FeesLook 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.

This subject 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

Students in this course will have the ability to analyse complex, dynamic economic and social information that impacts on economic value in the designed built environment.
On successful completion of this subject, students should be able to:



  • Understand the nature of property value and the role of the valuation profession, the property market and property valuation methods;
  • Understand the identification of various building types, designs and structures to facilitate analysis and valuation;
  • Analyse, evaluate and critique relevant market research, site and planning matters and apply decision tools to arrive at independent opinions of value;
  • Select, analyse and synthesise built environment, legal and economic information in the process of property valuation; and
  • Synthesise and deliver complex information in the form of a valuation report.

Generic skills


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

  • Analytical skills
  • Communication skills
  • Problem solving skills
  • work collaboratively and productively in groups and across disciplines;
  • apply critical and analytical skills and methods to the identification, evaluation and resolution of problems;
  • engage confidently in self-directed study and research;
  • communicate ideas effectively in written, graphic and oral formats;
  • operate effectively in multicultural and diverse environments;
  • use appropriate technologies;
  • critically evaluate new ideas, research findings, methodologies and theoretical frameworks in their discipline; and
  • recognise and understand the ethical responsibilities of individuals and organisations in society.

Last updated: 8 August 2023

Eligibility and requirements

Prerequisites

All of

Code Name Teaching period Credit Points
BLAW10001 Principles of Business Law
Semester 1 (Online)
Semester 2 (Online)
 12.5
MKTG10001 Principles of Marketing
Semester 2 (Dual-Delivery - Parkville)
Semester 1 (Dual-Delivery - Parkville)
Summer Term (Online)
 12.5
PROP20002 Design and Property Principles
Semester 1 (Dual-Delivery - Parkville)
 12.5
PROP20003 Design and Property Industry Studies
Semester 2 (Dual-Delivery - Parkville)
 12.5

OR

For B-COM Students:

Admission into the B-COM Bachelor of Commerce

AND

All of

Code Name Teaching period Credit Points
PROP20002 Design and Property Principles
Semester 1 (Dual-Delivery - Parkville)
 12.5
PROP20003 Design and Property Industry Studies
Semester 2 (Dual-Delivery - Parkville)
 12.5

Corequisites

None

Non-allowed subjects

Code Name Teaching period Credit Points
ABPL20004 Principles of Property Valuation No longer available

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: 8 August 2023

Assessment

DescriptionTimingPercentage

One individual report, comprising a portfolio of assets for inspection

  • 1000 words
Week 620%

Group valuation report (individually assessed)

  • 1000 words
Week 1020%

Examination

  • 2 hours
Hurdle requirement: Students must achieve a mark of at least 40% on the final examination in order to pass the subject.		End of semester60%

Last updated: 8 August 2023

Dates & times

  • Semester 1 - Online
    Principal coordinatorHao Wu
    Mode of deliveryOnline
    Contact hours 1X2 hour lecture and 1X1 hour tutorial per week
    Total time commitment170 hours
    Teaching period 1 March 2021 to 30 May 2021
    Last self-enrol date12 March 2021
    Census date31 March 2021
    Last date to withdraw without fail 7 May 2021
    Assessment period ends25 June 2021

    Semester 1 contact information

    Hao Wu (Subject Coordinator)

    haow@unimelb.edu.au

Time commitment details

170 hours

Last updated: 8 August 2023

Further information

Last updated: 8 August 2023