Property Markets and Valuations (ABPL90274)
Graduate courseworkPoints: 12.5On Campus (Parkville)
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 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: 4 March 2025
Eligibility and requirements
Prerequisites
Admission into or selection of one of the following:
- 300pt Program course entry point in the MC-PROP Master of Property
- 400pt Program course entry point in the MC-PROPUP Master of Property/Master of Urban Planning
OR
Admission into the 702PA Graduate Diploma in Property Valuation
OR
400pt Program Course entry in the MC-ARCPROP ( Master of Architecture / Master of Property - Architecture background)
OR
400pt Program Course entry in the MC-CMPROP ( Master of Construction Management/Master of Property - Construction background)
OR
A course at the Melbourne School of Design
OR
Approval from the subject coordinator.
Note:
This subject is not available to any students who are admitted in the MC-PROP2Y-200 point /MC-PROP (200 point) or equivalent valuation studies.
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: 4 March 2025
Assessment
| Description | Timing | Percentage |
|---|---|---|
Written assignment 1
| Week 6 | 20% |
Written assignment 2
| Week 11 | 20% |
individual presentation
| Week 10 | 10% |
Exam
| During the examination period | 50% |
Last updated: 4 March 2025
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 3 March 2025 to 1 June 2025 Last self-enrol date 14 March 2025 Census date 31 March 2025 Last date to withdraw without fail 9 May 2025 Assessment period ends 27 June 2025 Semester 1 contact information
Email: piyush.tiwari@unimelb.edu.au
Time commitment details
170 Hours
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Last updated: 4 March 2025
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
- 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.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
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
Last updated: 4 March 2025