15142 Property Development Process
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particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2024 is available in the Archives.
Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksThere are course requisites for this subject. See access conditions.
Description
This subject is an introduction to planning and property markets, and the property development industry. The planning framework and planning instruments are explored, and the development application process explained. Market analysis and feasibility are explained, and related concepts and issues in property development identified. Students consider how projects may be mitigated from external considerations, and how these considerations should be included in the planning, design, and development decision-making process.
Subject learning objectives (SLOs)
On successful completion of this subject, students should be able to:
| 1. | Demonstrate an understanding of the property market |
|---|---|
| 2. | Understand the property development process and the planning framework |
| 3. | Know the sources and requirements for obtaining development data and demonstrate use of analysis of planning and market data to make evidence-based property development decisions. |
Course intended learning outcomes (CILOs)
This subject also contributes to the following Course Intended Learning Outcomes:
- Effectively apply a variety of communication skills and technologies in professional contexts (C.1)
- Develop alternative, appropriate creative solutions to built environment issues (I.1)
- Apply a theoretical and practical understanding of research methods to the investigation and analysis of property markets (P.2)
- Synthesise knowledge related to a wide spectrum of property and asset management issues to the analysis of practice based property portfolio scenarios (P.6)
- Apply appropriate technical analytic skills to a professional standard (P.8)
Contribution to the development of graduate attributes
The term CAPRI is used for the five Design, Architecture and Building faculty graduate attribute categories where:
C = communication and groupwork
A = attitudes and values
P = practical and professional
R = research and critique
I = innovation and creativity
Course intended learning outcomes (CILOs) are linked to these categories using codes (e.g. C-1, A-3, P-4, etc).
Teaching and learning strategies
Property Development Process will be delivered through a series of six multi-modal (e.g. video lectures, supplemental readings, exercises, Zoom calls, etc.) learning Modules in Canvas. Each Module is presented in two themed Units, each beginning with instructions for what is to be completed prior to the associated face-to-face active-learning workshop. Where relevant, Zoom Q&A / discussion sessions are also included between workshops. In addition to the twelve units, this class includes the OPELA language assessment task which must be completed by Week 1.
The first Unit is an introduction and explanation of the subject - this Unit has a few Canvas pages for you to complete before our face-to-face class session (see your timetable) where we will review the Subject Outline, an overview of the Assessments, and engage in a class networking activity that will help you meet your classmates and assign groups for in-class groupwork and assignment 2 later in the following workshops. Please access Canvas as soon as possible to start reviewing the materials required for review prior to the first block.
The remaining eleven units offer a series of interactive Canvas pages, recorded mini-lectures & supporting content videos. Most Units also have supplementary reading, links for extended research, and/or resources for further study. You will see as you progress through the subject that each of the modules contains interactive activities. These activities will provide you with an active way of engaging with subject learning to deepen your understanding. It is important that you put effort into this work to gain the maximum benefit. Use the additional supporting materials available as you study. The multi-model subject design aims to provide a curated Unit package.
The face-to-face active learning workshops will apply learnings from your online modules in applied scenarios that directly relate to your assignments. Most workshops will include group work to provide peer learning opportunities and help you advance your assignments. In addition, one workshop will include a walking tour (weather permitting) where we demonstrate how online and in-class concepts have been applied in real-world development projects.
One of the advantages of this multi-modal, hybrid content delivery is that you can learn the core content whenever and wherever it suits you, reducing lecture 'listening time' in class and offering opportunities to review some content multiple times to ensure deep learning. However, while this is an opportunity for flexible learning, it is important to give yourself time to absorb, engage, and consolidate what you have learned.?It is useful to think of the subject learning modules as scaffolds that direct and provoke your learning - but remember it is up to you to fill in the actual structure. Your work with subject learning will then be demonstrated in your assignments.
OPELA
One of the aims of this subject is to help you develop academic and professional language and communication skills in order to succeed at university and in the workplace. To determine your current academic language proficiency, you are required to complete an online language screening task, OPELA (information available at https://www.uts.edu.au/research-and-teaching/learning-and-teaching/enhancing/language-and-learning/about-opela-students) . If you receive a Basic grade for OPELA, you must attend additional Language Development Tutorials each week from week 4 to week 12 in order to pass the subject. These tutorials are designed to support you to develop your language and communication skills. Students who do not complete the OPELA and/or do not attend 80% of the Language Development Tutorials will receive a Fail X grade.
Content (topics)
- Australian development industry
- Property market analysis
- Demographics and Census data
- Introduction to planning and planning instruments
- Market research in the planning and development process
- Property macroeconomics and economic policy
Assessment
Assessment task 1: Online tests
| Intent: | The online test(s) assess your understanding of the use of Census data for population, households, incomes, etc., and property market data related to house prices, rents, available stock, etc. to better understand supply, demand, target market identification, pricing, and stock in the property market. The associated Module and specific instructions are outlined on Canvas. The sources of the data used are introduced and demonstrated in the Module, and the tasks you to apply these concepts. | ||||||||||||
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| Objective(s): | This task addresses the following subject learning objectives: 1 and 3 This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.): P.2 and P.6 | ||||||||||||
| Type: | Quiz/test | ||||||||||||
| Groupwork: | Individual | ||||||||||||
| Weight: | 25% | ||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 2: Property development
| Intent: | This task includes three parts - two group exercises, in a groups of (approx) eight people in Canvas Teams, as well as completion of an individual component. In the final group exercise, the group must utilise the shared individual components to make a recommendation after an online discussion in their Canvas Team site. Activity 1. Planning Framework & Constraints: the group will collaborate to identify the relevant planning controls and the potential impacts for development in the Local Government Area (LGA). Contribution to the group package will be assessed through a review of the online discussion in Canvas Teams. This activity is worth 5% of the total subject mark. Activity 2. Site & Market Analysis: each group member must individually assemble a site & market analysis package for one (different) site. Using this data, you must identify the site SWOT, the target demographic and maximum development potential of the site. The package should include relevant micro- and macro-economic data as well as the employment, income, demographic, and household Census data available from ABS Quickstats, and information related to housing stock, building approvals and development applications data. Using Exercise 1 information, identify any potential planning, as well as site-specific constraints for the site. Finally, share all information with your group for use in Exercise 3. Activity 3. Selecting the site: the group must review the shared market analysis packages and contribute to a group discussion. The group has to decide on which site to recommend for the proposed development from the map with six potential sites within the identified Sydney LGA. The map with the six potential sites is provided in the assignment module. This activity is worth 10% of the total subject marks - 5% for the group recommendation of the preferred development site (supported by reasoning) and 5% for their contribution to the group discussion | ||||||||||||||||||||
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| Objective(s): | This task addresses the following subject learning objectives: 2 and 3 This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.): C.1, I.1 and P.6 | ||||||||||||||||||||
| Type: | Exercises | ||||||||||||||||||||
| Groupwork: | Group, individually assessed | ||||||||||||||||||||
| Weight: | 45% | ||||||||||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 3: Property analysis assignment
| Intent: | Building on Assignment 2, this assignment asks for an INDIVIDUAL analysis of the current state of the property market in the identified Sydney local government area (LGA), and a recommendation on the potential project identified in the group tasks. Each student may opt to supplement the due diligence package created by their team member to include all relevant market study data in order to best proceed with an evaluation of the project feasibility. For this assignment, data should be carefully selected to build a market profile. You are expected to summarise and synthesise all of the relevant data into a few key points supporting your recommendation for (or against) the proposed project and site selection. The analysis should highlight why you think these are the key points and requires you to use data on supply, demand, current prices and stock in the market. The assessment module in Canvas provides additional details for the LGA selected, the submission requirements and feedback provision. Requirements related to the the submission structure and presentation are also discussed. This assessment will be assessed for English language proficiency as the final step in the OPELA assessment. You will be directed to further language support after the completion of this subject if your language is below the required standard. | ||||||||||||||||
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| Objective(s): | This task addresses the following subject learning objectives: 2 and 3 This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.): P.2, P.6 and P.8 | ||||||||||||||||
| Type: | Report | ||||||||||||||||
| Groupwork: | Individual | ||||||||||||||||
| Weight: | 30% | ||||||||||||||||
| Length: | Between 1,500 and 2,000 words | ||||||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Minimum requirements
The DAB attendance policy requires students to attend no less than 80% of formal teaching sessions (lectures and tutorials) for each class they are enrolled in to remain eligible for assessment.
It is a requirement of this subject that all students complete OPELA. Students who receive a Basic grade in the OPELA are required to attend 80% of the Language Development Tutorials in order to pass the subject. Students who do not complete the OPELA and/or do not attend 80% of the Language Development Tutorials will receive a Fail X grade.
Required texts
The UTS Library Study Guide for this subject with links to ebooks and readings in the digital reserve is here:
https://www.lib.uts.edu.au/guides/15142-property-development-process
Ratcliffe, J Stubbs, M & Keeping, M. 2009. Urban Planning and Real Estate Development, 3rd Ed. London: Spon Press. Students are expected to read chapters 11, 16, 17, 18 and 19, and be familiar with the topics and material. These are foundation readings for the subject. Available as an ebook from UTS Library.
The core reading for property cycle analysis is: ‘The property and capital markets’ (chapter 1) from DiPasquale, D. and Wheaton, W.C. 1996, Urban Economics and Real Estate Markets, linked here: https://www.lib.uts.edu.au/drr/35007/
Gurran, N. 2011. Australian Urban Land Use Planning, Sydney: SUP, chapters 1-3. This is the core reading for the planning component of the subject. Chapter 2 is linked here:
https://www.lib.uts.edu.au/drr/33766/
Greater Sydney Commission – Draft North District Plan 2016 http://gsc-public.s3-ap-southeast-2.amazonaws.com/s3fs-
North Sydney Local Environmental Plan 2013 - http://www.legislation.nsw.gov.au/#/view/EPI/2013/411
Havard, T. 2008. Contemporary Property Development, London. RIBA. Online through UTS Library http://find.lib.uts.edu.au/?R=OPAC_b2808257 . This is highly recommended, particularly the three case studies at the end.
Recommended texts
For students new to property development Ratcliffe et. al. Ch. 1 ‘Urban Planning and Real Estate Development: The context’ and Havard Ch. 1 ‘Background to Property Development’ are very useful introductory readings.
For students new to planning Ratcliffe et. al. Ch.2 and Fainstein (In the Subject Documents folder in Online, with some other relevant PDFs) are very useful introductory readings.
A history of planning in NSW since the EP&A Act was introduced in 1979 is here: http://www.parliament.nsw.gov.au/prod/parlment/publications.nsf/key/NSWPlanningFramework:HistoryofReforms/$File/NSW+Planning+Fr amework+History+of+Reforms+e+brief10+2010.pdf
References
The UTS Library Study Guide for this subject is here: https://www.lib.uts.edu.au/guides/15142-property-development-process.
Referencing requirements:
In all assignments please cite assumptions, references and sources using the Harvard referencing system. Written submissions will be checked for plagiarism via TurnItIn, where appropriate . Any instances of plagiarism will be reported directly to the review committee. If you are unsure of proper referencing and/or paraphrasing practices, please see guide below and/or speak to someone at the library.
See http://www.lib.uts.edu.au/help/referencing/harvard-uts-referencing-guide
Permission to use student work:
The University of Technology Sydney will retain your work and may use it to promote the University and/or its courses for an indefinite period. If you would not like the University to use your work in its promotion please notify the subject co-ordinator in writing.