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Principles of Property Valuation (ABPL20004)

Undergraduate level 2Points: 12.5On Campus (Parkville)

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Overview

Year of offer2019
Subject levelUndergraduate Level 2
Subject codeABPL20004
Campus
Parkville
Availability
Semester 1
FeesSubject 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.

Generic skills


  • 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

Prerequisites

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
Semester 1
12.5

Note: PROP20002 maybe taken concurrently

Corequisites

None

Non-allowed subjects

702-213 Principles of Property Valuation (PG)

PROP30001

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

Additional details

  • 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 coordinatorHao Wu
    Mode of deliveryOn Campus — Parkville
    Contact hours36 hours (One x 2 hour lecture and one x 1 hour tutorial per week)
    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

    Semester 1 contact information

    Subject Coordinator

    Hao Wu

    haow@unimelb.edu.au

Time commitment details

170 Hours

Further information

Last updated: 10 August 2019