|Year of offer||2019|
|Subject level||Undergraduate Level 2|
|Fees||Subject EFTSL, Level, Discipline & Census Date|
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.
Eligibility and requirements
Admission into the B-ENVS and one of the following subjects
|Code||Name||Teaching period||Credit Points|
|ABPL20031||Principles of Property||12.5|
|PROP20002||Design and Property Principles||
Note: PROP20002 maybe taken concurrently
702-213 Principles of Property Valuation (PG)
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
- One examination of two hours duration at the end of semester (60%);
- One individual assignment comprising a portfolio of short essays and inspection reports equivalent to 1000 words due mid semester, (20%);
- One group-based valuation report, 1000 words per student ,due end of semester (20%).
Hurdle requirement: A minimum grade of 40% must be achieved in the examination in order to pass the subject.
Dates & times
- Semester 1
Principal coordinator Hao Wu Mode of delivery On Campus — Parkville Contact hours 36 hours (One x 2 hour lecture and one x 1 hour tutorial per week) Total time commitment 170 hours Teaching period 4 March 2019 to 2 June 2019 Last self-enrol date 15 March 2019 Census date 31 March 2019 Last date to withdraw without fail 10 May 2019 Assessment period ends 28 June 2019
Semester 1 contact information
Time commitment details
Valuation of Real Estate, published by Australian Property Institute, 2007.
- Related Handbook entries
This subject contributes to the following:
Type Name Informal specialisation Environments Discipline subjects Major Property major Major Construction major Informal specialisation Non-allowed Breadth Subjects within the Bachelor of Design - relating to specific majors Breadth track Property Breadth track Property in the Urban Economy
- 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.