16234 Property Valuation6cp; 3hpw
There are course requisites for this subject. See access conditions.
This subject focuses on the role, functions and obligations of valuation profession and purpose for which valuations are undertaken. It explores the concepts of different types of value, different interests in property, general valuation principles and case law. This subject also engages students in learning valuation methods, including the Market Approach - Comparable Transactions Method, Cost Approach, and Income Approach. 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. The subject prepares the students to be able to apply the different methods of valuation to different property types. Subsumed in the methods of valuation are the concepts of identifying risk and accounting for risk. An overview of valuation reporting standards is also discussed. A basic knowledge of a spreadsheet program such as Microsoft Excel is assumed.
Assessments are designed to assure students' proficiency in achieving the learning objectives of this subject. Class exercises test students’ understanding of basic concepts, valuation theory and valuation methods. Students are required to conduct a group work to value a property using the learned principles. The final examination tests students' understanding of valuer’s responsibility, valuation methods and risks involved in the valuation.
This subject provides an important foundation which underpins the use of valuation theory and practice across several sectors of the property industry.
Autumn session, City campus
Detailed subject description.
Information to assist with determining the applicable fee type can be found at Understanding fees.
- Commonwealth-supported students: view subject fees at Fees Search: Commonwealth-supported
- Postgraduate domestic fee-paying students: fees are charged according to the course enrolled in; refer to Domestic Fees Search: Postgraduate and Research
- International students: fees are charged according to the course enrolled in; refer to International Fees Search
- Subject EFTSL: 0.125