|Year of offer||2019|
|Subject level||Undergraduate Level 3|
|Fees||Subject EFTSL, Level, Discipline & Census Date|
This final year, core subject for the Bachelor of Environments, property major, examines the economic, physical/environmental, financial and legal aspects relating to the analysis of property – both quantitative and qualitative – leading to effective property resource allocation. It draws together the prerequisite analytical approaches required for effective study in the subsequent capstone studio and graduate subjects relevant to high order support for client decision-making within a dynamic commercial property markets context.
This subject is particularly relevant as the basis to commercial (income) property valuation, finance, investment and development feasibility decision-makings. At the core of the subject is a “cash-flow” approach to property resources and analysis. The cash flow method is a technical system which the decision maker often requires, because it explicitly analyses expected cash flow income of a property project over its life cycle or holding period. The risk and return trade-off is studied under the valuation and investment evaluation framework to guide resource allocation choices.
Topics include: property resources, income valuation, commercial property market, DCF modelling, land use and land value, building and costs, cash flow risk and return, enterprise and investment evaluation, capital market and indirect property, cost-benefit analysis and decision-making framework in a property context.
Intended learning outcomes
Upon the completion of this subject student should be able to:
- Understand the character and role of property resource analysis systems and practices across a range of property types from a range of stakeholder perspectives;
- Be aware of the social, legal, economic and environmental impacts of property resource analysis and of anticipated emerging opportunities;
- Access, interpret and communicate data relevant to property resource issues.
- Model property valuation and investment financial flows;
- Understand the principles & techniques of property and asset valuation and analysis;
- Understand the effect of taxation and finance on property investment and development.
Upon successful completion of this subject students will have had the opportunity to develop the following generic skills:
• Analytical skills - an enquiring and analytical approach to the determination of appropriate property resource allocation decisions;
• Communication skills - an enhanced ability to communicate analysed interpretations of property resource allocation outcomes through written and oral presentations;
• Problem solving skills - an increased body of knowledge associated with resolution of contemporary issues and practices in property resource allocation;
• Team working skills - an enhanced ability to generate and communicate a range of relevant property resource analysis practices and procedures at an appropriate academic and professional standard.
Eligibility and requirements
|Code||Name||Teaching period||Credit Points|
|ABPL20004||Principles of Property Valuation||
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
- Assignment Valuation Report, required approximately 40-45 hours of work(not exceeding 3000 words), worth 40%, due week 11;
- One hour mid-semester test, 10%;
- Class participation, actively participate in lecture and tutorial classes 10%;
- One two hour examination, examination period 40%.
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 Georgia Warren-Myers Mode of delivery On Campus — Parkville Contact hours 36 hours (1X 2 hour lecture and 1x 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 Principles and Practice, 2nd ed. Australian Property Institute (API)
Real Estate Investment: A strategic Approach 3rd ed. Andy Baun, 2015, Routledge
- 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 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.