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Introduction to Property (PROP10002)
Undergraduate level 1Points: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable (login required)(opens in new window)
Contact information
Overview
Availability | Semester 1 |
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Fees | Look up fees |
This Bachelor of Design subject is designed to introduce basic concepts in property and explores the dynamics of the market in relation to major themes that dominate modern discourse. Students are introduced to the various legal, economic, and social systems that affect property as well as theories and practices related to decisions about the control, transfer, and development of the built environment. The subject also considers the range of issues that need to be resolved in property rights as they relate to tensions between individual versus collective rights. These include Terra Nullius and native title, individual rights, collective rights, and mechanisms for contesting or modifying rights. A core principle underlying the subject is the interaction of property with economic, environmental, and social factors. Three building blocks of the subject are: conceptualisation of property and property markets, considerations for property values and approaches for analysing property decisions. This is a foundation subject and is meant for students who are relatively new to the property education.
The main areas to be covered include:
- To set real property within a socio-economic and cultural context;
- To identify legal rights associated with real property;
- To examine property sectors and the factors that contribute to property asset value;
- To examine property as a set of linked markets, functionally divided between use, investment (ownership), and development;
- To critically evaluate the role that planning and regulations play in the property markets;
- To examine sustainability in the context of the property sector.
This subject will provide a lens on the University’s Joining Melbourne Modules. These will be completed in parallel to the subject - unless already successfully completed. It will also support the Discovery goals for commencing students by introducing emerging concepts and research in the discipline area; ways to connect with the larger University community including peers, teachers and student groups; and awareness of the academic expectations, and of wellbeing support offered at the University of Melbourne.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Distinguish property asset classes and examine factors that affect the demand and supply of these asset classes.
- Describe interlinkages between sub-markets related to the use, investment and development of property, and explain the impact of economic, social and environmental factors on these sub-markets.
- Explain property rights associated with ownership of property, and demonstrate knowledge of Indigenous approaches to Country, and their evolution over time.
- Apply appropriate methods for analysing property decisions related to use and investment in property.
- Demonstrate an understanding of the Joining Melbourne Modules, and the learning outcomes of these, in relation to Property subject matter and learning activities.
Generic skills
- An ability to apply a systematic approach to analysing the dynamics of rights and obligations in the built environment.
- An ability to identify the external factors impacting property.
- An ability to analyse, report on and discuss issues relevant to this subject
Last updated: 31 January 2024
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
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: 31 January 2024
Assessment
Description | Timing | Percentage |
---|---|---|
Assignment 1: Examining property types based on guided observation of property markets in Melbourne
| Week 4 | 30% |
Assignment 2: Based on analysis of professional and academic property market reports, written assignment examining the determinants of property values for an identified property asset class
| Week 8 | 30% |
Assignment 3: Prepared in group on estimating of property value for a property asset.
| Week 12 | 40% |
Last updated: 31 January 2024
Dates & times
- Semester 1
Coordinator Piyush Tiwari Mode of delivery On Campus (Parkville) Contact hours 1X2 hour lecture and 1X1 hour tutorial per week Total time commitment 170 hours Teaching period 26 February 2024 to 26 May 2024 Last self-enrol date 8 March 2024 Census date 3 April 2024 Last date to withdraw without fail 3 May 2024 Assessment period ends 21 June 2024
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: 31 January 2024
Further information
- Texts
Prescribed texts
Michael Hefferan (2021) Real Property in Australia: Foundations and Application (Routledge).
- Related Handbook entries
This subject contributes to the following:
Type Name Course Bachelor of Design - Breadth options
This subject is available as breadth in the following courses:
- 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.
Last updated: 31 January 2024