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Design and Property Principles (PROP20002)
Undergraduate level 2Points: 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 |
|---|---|
| Fees | Look up fees |
This subject introduces students to the basic principles and business concepts of Property, through examination of the underlying drivers of commercial Property Development and Property Investment, the underlying systems and relationships – social, commercial, political, economic and environmental - which govern the operation of property markets with particular reference to urban property in Australia. More specifically, the subject examines the nature of property, property and site analysis, the statutory planning process to obtain a planning permit, property market research, and relevance of these processes to development of financial modelling and examination of property productivity, profitability and financial performance. In addition, there is an examination of the participants in the property industry, their roles and how they interact. Topics include:
- the character of property and property interests;
- the nature of markets and exchange;
- property markets and their evolution;
- stakeholders;
- markets and sub-market characteristics;
- highest and best use/most probable use and property potential analysis;
- value and worth in the property context; property classes – residential, industrial, retail, commercial, other public and private sector interests;
- market maturity;
- property development process;
- property investment;
- site analysis;
- underlying concepts associated with planning, planning policy and the statutory planning process;
- market analysis and marketability analysis;
- market analysis techniques;
- the underlying sources of information that lead to the development of financial feasibility for investment property and property development;
- how research and decisions related to assessments of site analysis, statutory planning and market research relate to the development of financial feasibility models, measurement of a property’s potential productivity, profitability and financial performance;
- relevance of risk assessment, mitigation and management throughout feasibility process;
- examination of data sources, collection, analysis, synthesis and review;
- indicators of market movements.
Intended learning outcomes
Having completed this subject it is expected that the student be able to:
- Understand the role of transdisciplinary design teams in conceptualising property design options;
- Understand the dynamics of urban and regional economics, planning and development, and the emerging digital economy and translate for the design of cities and space creation;
- Understand that macro and micro economic trends and social, cultural, strategic planning and political trends impact on design strategies and concepts for liveable cities and places;
- Analyse strategic and statutory planning systems and their translation into design concepts, feasibility options and project developments;
- Research and analyse property market drivers for the creation of market analysis and marketability studies.
Generic skills
Upon successful completion of this subject the student will have had the opportunity to develop the following generic skills:
1. Intellectual skills:
- define a problem
- identify the correct method of interpreting data and solving problem
- synthesise knowledge and interpret the appropriateness of the solution
- identify an issue and learn to discuss in a reflective manner
2. Research and professional skills
- appreciate the value of listening attentively, selecting what is important, watching for signals for important points & identifying the structure of the presentation/lecture
- competently use a calculator
- apply and interpret financial mathematical techniques appropriate to the problem
- interpret the financial pages
3. Transferable skills
- competently communicate through a written essay/report
- demonstrate research and professional skills through, for example, the quantitative analysis and interpretation of data
- use standard word processing and spreadsheet packages
- demonstrate basic time management skills
Last updated: 19 April 2024
Eligibility and requirements
Prerequisites
Bachelor of Design students:
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| PROP10001 | Economics and Cities | Semester 2 (On Campus - Parkville) |
12.5 |
Bachelor of Commerce students:
One of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECON10003 | Introductory Macroeconomics |
Semester 1 (On Campus - Parkville)
Summer Term (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
| ECON10004 | Introductory Microeconomics |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
Bachelor of Environment Students:
Students must meet one of the following prerequisite options:
Option 1
One of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECON10003 | Introductory Macroeconomics |
Semester 1 (On Campus - Parkville)
Summer Term (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
| ECON10004 | Introductory Microeconomics |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
AND
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| MAST10012 | Introduction to Mathematics | Semester 1 (On Campus - Parkville) |
12.5 |
Option 2
One of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECON10003 | Introductory Macroeconomics |
Semester 1 (On Campus - Parkville)
Summer Term (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
| ECON10004 | Introductory Microeconomics |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
AND
VCE Mathematical Methods 3 and 4, or equivalent
Corequisites
None
Non-allowed subjects
ABPL20031 Principles of Property
Recommended background knowledge
It is recommended that students take PROP20001 Finance for Built Environment concurrently with this subject.
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| PROP20001 | Finance for Built Environment | Semester 1 (On Campus - Parkville) |
12.5 |
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: 19 April 2024
Assessment
| Description | Timing | Percentage |
|---|---|---|
Individual Assessment Task: One mid semester examination (approximately 20-25 hours of work)
| Week 8 | 25% |
Individual Assessment Task: One examination (approximately 40-55 hours of work)
| During the examination period | 45% |
Individual Assessment Task: Ten in-lecture tests
| From Week 3 to Week 12 | 20% |
Individual Assessment Task: Attendance at and Participation in Tutorials (Please see below for further details) Hurdle requirement: Students must attend at least 80% of all tutorial classes | During the teaching period | 10% |
| Hurdle requirement: Students must achieve a mark of at least 40% in each of the first three assessment tasks | Throughout the semester | N/A |
Additional details
Examples of participation in tutorials:
- Tutorial questions will be provided to students in the latter part of the week prior to following weeks’ tutorials. Students will be required to complete a written answer sheet for hand-in and discussion at each tutorial. All questions will be required to be answered;
- Students will be required to be able to discuss, individually and as part of a group, matters related to those questions and matters raised in prior weeks’ tutorials and classes.
Last updated: 19 April 2024
Dates & times
- Semester 1
Principal coordinator Dermot McGeown Mode of delivery On Campus (Parkville) Contact hours 36 hours 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
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: 19 April 2024
Further information
- Texts
Prescribed texts
There are no specifically prescribed or recommended texts for this subject.
- Breadth options
This subject is available as breadth in the following courses:
- Bachelor of Arts
- Bachelor of Biomedicine
- Bachelor of Commerce
- Bachelor of Design
- Bachelor of Fine Arts (Acting)
- Bachelor of Fine Arts (Animation)
- Bachelor of Fine Arts (Dance)
- Bachelor of Fine Arts (Film and Television)
- Bachelor of Fine Arts (Music Theatre)
- Bachelor of Fine Arts (Production)
- Bachelor of Fine Arts (Screenwriting)
- Bachelor of Fine Arts (Theatre)
- Bachelor of Fine Arts (Visual Art)
- Bachelor of Science
- 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: 19 April 2024