University of Technology, Sydney

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16234 Property Valuation

6cp
There are course requisites for this subject. See access conditions.

Undergraduate

Description

This subject is an in-depth study of the role, functions and obligations of the valuation profession and purposes for which valuations are undertaken. It explores the concepts of value and the practical application of the role of valuations in the market place. It further defines the rationale, tolerances and codification of value for each of the purposes for which it is used and further distinguishes the term value from its common language meaning to its specificity of use within the valuation profession. This subject is designed to provide the foundations for a career as a valuer and property professional.

Following the review of the valuation methods and purposes, each method is covered with students critically engaging in-depth analyses and application commencing with the direct comparison method, exploring the attributes of value. The second method, the summation or cost method is used by students to examine some of the specialist uses of property. The income or capitalisation method is the foundation of investment analyses which students demonstrate the use of this method in their major assignment. The hypothetical development and residual methods of valuation are then used by students to assess existing and highest and best use of land. The subject further introduces partial interests in land and the principles of financial theory and the impact of the time cost of money within the various method of valuation described above. This subject provides an important foundation which underpins the use of valuation theory and practice across several sectors of the property industry.

Typical availability

Spring session, City campus


Detailed subject description.

Fee information

Information to assist with determining the applicable fee type can be found at Understanding fees.

Access conditions

Note: The requisite information presented in this subject description covers only academic requisites. Full details of all enforced rules, covering both academic and admission requisites, are available at access conditions and My Student Admin.