CQUniversity Unit Profile

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PROP11001 Property Valuation
Property Valuation
All details in this unit profile for PROP11001 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student).
The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.
General Information

Overview

This unit is an introduction to professional property valuation. The unit examines property markets, market value, factors influencing market value, the nature and role of various stakeholders and the valuation process applied to freehold property interests. Practical aspects of property valuation are introduced including data collection, valuation report writing, the practical implications of professional ethics and codes of professional practice in property industry with specific focus on simple residential property.

Details

Career Level: Undergraduate
Unit Level: Level 1
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

Pre-requisites or Co-requisites

There are no requisites for this unit.

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Offerings For Term 1 - 2023

Online

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Class and Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Class Timetable

Bundaberg, Cairns, Emerald, Gladstone, Mackay, Rockhampton, Townsville
Adelaide, Brisbane, Melbourne, Perth, Sydney

Assessment Overview

Assessment Grading

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.

Previous Student Feedback

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback from Enrolments

Feedback

Enrolment numbers have dropped. In particular, enrolments from students outside BPROP have declined in the past 3 years.

Recommendation

The HoC for Property to initiate and deliver further programs and projects to raise enrolment numbers in BPROP and better understand the decline in unit enrolments with other HoCs in business.

Feedback from Student feedback and UC observation

Feedback

Design and apply a more detailed marking rubric to accompany the audio feedback provided for the valuation assignment.

Recommendation

Audio feedback generally well received, and it reduced grading time for the UC. A new more detailed rubric will be designed to accompany the audio feedback.

Feedback from Student feedback

Feedback

Better quality videos

Recommendation

New recordings will have enhanced audio recording and transcription functionality.

Feedback from Student feedback

Feedback

Further exam advice

Recommendation

The UC will provide an exam brief including 'how to prepare' video, along with past exams and the solutions to the mathematical questions. Sufficient time will be allocated in the weekly virtual classes to address assessment queries.

Feedback from Student feedback

Feedback

Later and more flexible exam scheduling

Recommendation

Exam scheduling to move back a week. That said, due to risks and temptations to share or enable cheating (contract and other) exam periods will be set for a specific period and duration not exceeding 3 hours. Alternative sittings with adapted exams will be retained for students with genuine reasons as per school practice.

Feedback from Student feedback and UC observation

Feedback

More student involvement

Recommendation

Alternative forms of delivery, including asynchronous activities, embedding AI and even VET skills and competencies will be considered for a more engaging offer.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Describe and evaluate the theory and principles of property valuation and property market economics.
  2. Communicate and interact productively with various stakeholders in the property industry using various media channels.
  3. Apply and review ethical arguments and cultural implications related to property economics and valuation processes.
  4. Conduct a valuation of less complex property types by selecting and applying appropriate methods and preparing a professional property valuation report.

This unit fulfils part of the property valuation content within the "Valuation" field of the Australian Property Institute's accreditation guidelines. After successful completion of this unit students will be able to conduct valuations of residential and other less complex real property types at a professional standard.

Alignment of Learning Outcomes, Assessment and Graduate Attributes
N/A Level
Introductory Level
Intermediate Level
Graduate Level
Professional Level
Advanced Level

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4
1 - Written Assessment - 50%
2 - Examination - 50%

Alignment of Graduate Attributes to Learning Outcomes

Graduate Attributes Learning Outcomes
1 2 3 4
1 - Communication
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
5 - Team Work
6 - Information Technology Competence
7 - Cross Cultural Competence
8 - Ethical practice
9 - Social Innovation
10 - Aboriginal and Torres Strait Islander Cultures

Alignment of Assessment Tasks to Graduate Attributes

Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10
1 - Written Assessment - 50%
2 - Examination - 50%
Textbooks and Resources

Textbooks

Supplementary

Property Valuation and Analysis

Edition: 2nd (2006)
Authors: Whipple
Law Book Co of Australasia
ISBN: 9780455223940
Binding: Paperback

Additional Textbook Information

Textbooks can be accessed online at the CQUniversity Library website. Access may be limited. If you would prefer your own copy, purchase either paper or eBook versions at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code)

IT Resources

You will need access to the following IT resources:
Academic Integrity Statement

Information for Academic Integrity Statement has not been released yet.

This unit profile has not yet been finalised.