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16005 Introduction to the Property Development Process

Warning: The information on this page is indicative. The subject outline for a 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 2020 is available in the Archives.

UTS: Design, Architecture and Building: School of the Built Environment
Credit points: 6 cp
Result type: Grade and marks

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

Description

This subject provides an introduction to the nature of land, property and property markets, with a focus on the different property valuation methods and the property development process. The methods used for property valuations and preparation of valuation reports, cash flow analysis and feasibility studies are covered, with the related concepts and issues found in property development analysis identified. The property development process and issues associated with obtaining a development approval within the planning framework are discussed.

Subject learning objectives (SLOs)

On successful completion of this subject, students should be able to:

1. Identify ethical issues related to external factors that might impact/influence the property development process and discuss how they might impact a development application.
2. Demonstrate an understanding of the planning framework and and ability to analyse the implications of common planning mechanisms and requirements on a development approval.
3. Apply research techniques to obtain meaningful information about property market conditions and demonstrate how this information can be used to make property development decisions.
4. Apply market research information in the development of an optimal solution for a proposal for a specified site.
5. Communicate research findings using appropriate terminology in a professionally written and structured deliverable.

Course intended learning outcomes (CILOs)

This subject also contributes to the following Course Intended Learning Outcomes:

  • Identify ethical issues and apply informed ethical judgements in professional Contexts (A.1)
  • Effectively apply a variety of communication skills and technologies in professional contexts (C.1)
  • Develop alternative, appropriate creative solutions to built environment issues (I.2)
  • Analyse data to make investment decisions in various contexts (P.2)
  • Apply economic theory in analysing property markets (P.3)
  • Apply planning principles in various property contexts (P.4)
  • Apply financial principles to property economics issues (P.5)
  • Apply knowledge of law (including Native Title) and regulations in built environment contexts (P.6)
  • Apply knowledge of sustainability and environmental issues in built environment contexts (P.7)
  • Source, evaluate and use information within defined parameters (R.2)

Teaching and learning strategies

This subject is presented in weekly 3-hour face-face 'lecture' class format which incorporates a range of teaching and learning experiences. There are various modes of presentation used in the sessions including: traditional lecture, integrated active learning exercises, in-classes quizzes followed immediately with discussion and formative feedback (to ensure all students have accurately and fully understood key concepts, and where applicable, how to apply them), use of flipped learning (which includes pre-class reading and exercises to prepare for in-class discussions and exercises), site visit(s) where you will be able to experience and discuss on-site the principles you are learning in class, and an optional tutorial to prepare for the full-day property development simulation exercise. The Simulation Exercise will require students to prepare a data packet within their groups, come prepared with recommendations to their group related to specific tasks for which they are given the lead assessor position, and to make a group presentation at the end of the simulation exercise. The information packets developed by each group are then used by group members to individually make a recommendation for the design/development team and a development project for the selected site. Students are encouraged to discuss problems with others by raising issues in class or by asking questions via the UTS Online Discussion Forum.

A minimum of 80% attendance is required, as per UTS guidelines, and attendance is taken weekly. In-class quizzes cannot be taken at a later date as answers will be discussed in class. If you are sick and can provide a doctor's note or have some other excused absence which can be documented per UTS guidelines, please email to the instructor(s). If approved, your remaining quizzes will be weighted equally, and your excused absence quiz mark of '0' mark will not factored into the quiz mark. Similarly, the Simulation Exercise cannot be rescheduled as it requires a full-day commitment from all students.

Assessment

Assessment task 1: In-class & online quizzes

Intent:

Six weekly quizzes on content covered in the previous week. Each quiz is equally weighted at 5% (this is not possible to accurately reflect in the criteria linkages ... but this will be the formula used for the final marks calculation).

Objective(s):

This task addresses the following subject learning objectives:

1, 2, 3 and 4

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.):

A.1, P.2, P.3, P.4, P.5 and P.7

Type: Quiz/test
Groupwork: Individual
Weight: 30%
Criteria linkages:
Criteria Weight (%) SLOs CILOs
Week 4 Quiz 15 1 A.1
Week 5 Quiz 17 3 P.2
Week 6 Quiz 17 2 P.4
Week 7 Quiz 17 4 P.3
Week 9 17 4 P.5
Week 10 (online) 17 1 P.7
SLOs: subject learning objectives
CILOs: course intended learning outcomes

Assessment task 2: Planning Assessment

Intent:

Using formative feedback, groups have the opportunity to 'upgrade' their marks ahead of a revised submission for Assessment 3.

Objective(s):

This task addresses the following subject learning objectives:

2 and 5

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.2, P.4, P.6 and P.7

Type: Project
Groupwork: Group, individually assessed
Weight: 25%
Criteria linkages:
Criteria Weight (%) SLOs CILOs
Quality, clarity, professionalism & coherent structure of presentation: Use of effective written, oral or visual communication to present analysis & recommendations 20 5 C.1
Thoroughness and synthesis of case study-relevant information into your analysis findings demonstrate an understanding of planning principles, the NSW planning framework and local planning policies as well as the mechanisms & requirements for obtaining a DA 20 2 P.4
Demonstrated understanding of legal, practical, professional applications of planning framework 20 2 P.6
Demonstrated understanding of key concepts regarding making or assessing a development application and utilising this understanding in achieving a quality planning outcome in your final recommendation 20 2 I.2
Demonstrated understanding of sustainability principles in the planning framework 20 2 P.7
SLOs: subject learning objectives
CILOs: course intended learning outcomes

Assessment task 3: Feasibility & Simulation Assessment

Objective(s):

This task addresses the following subject learning objectives:

3, 4 and 5

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.2 and R.2

Type: Report
Groupwork: Group, individually assessed
Weight: 45%
Criteria linkages:
Criteria Weight (%) SLOs CILOs
Quality, clarity, professionalism & coherent structure of deliverable 20 5 C.1
Analysis of property markets and cycles & investigation of feasibility 40 3 R.2
Application of evidence to influence decision-making in proposal of optimal solution 40 4 I.2
SLOs: subject learning objectives
CILOs: course intended learning outcomes

Minimum requirements

A minimum of 80% attendance is required, as per UTS guidelines, and attendance is taken weekly.