CQUniversity Unit Profile
PROP19003 Advanced Property Valuation
Advanced Property Valuation
All details in this unit profile for PROP19003 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


This is the capstone unit in property valuation. It incorporates the valuation of complex investment, specialised and development property . You will gain insights into current issues in property economics, and social, cultural, environmental and property rights factors that impact on the value of different property types. Advanced valuation approaches for income producing property are analysed, including advanced modelling and risk analysis associated with the expected returns.


Career Level: Undergraduate
Unit Level: Level 3
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

Pre-requisites or Co-requisites

Pre-requisites: PROP11001 and FINC19014

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 - 2019


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

1. Written Assessment
Weighting: 50%
2. Examination
Weighting: 50%

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 Unit Evaluation


Resources. More examples to work through which relate to the exam and assignment.


Continue to increase the number of exercises.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Apply advanced valuation methods to value complex or specialised property types.
  2. Articulate emerging issues in property economics.
  3. Critically evaluate the factors that impact on the value of property rights and assets.
  4. Effectively communicate with diverse stakeholders on complex or specialised property.

This unit is an element in the required content for accreditation for Certified Practicing Valuer with the Australian Property Institute.

Students will have the opportunity to pursue Estate Master professional accreditation as an extension to the core activities in this unit related to development analysis. Estate Master accreditation is a widely recognised industry standard within the Australian and international development industry and can benefit the career prospects of students. Accreditation is independent of the university, however students receive a special student package which includes extended student access to the software and a heavily discounted accreditation. Details of how to pursue accreditation will be found on the Moodle site for this unit.

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

Alignment of Assessment Tasks to Graduate Attributes

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



Valuation Principles & Practice 2nd (2007)

Authors: Australian Property Institute
Deakin Deakin , ACT , Australia
ISBN: 987 0 9775414 3 0
Binding: Paperback

Additional Textbook Information

Valuations Principle and Practice is available at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code) It contains coverage of many advanced valuation issues and includes sections on specialised valuation which combine to make it a useful text for the course and as a reference for professional practise.

The CoreLogic (RPData) Data Suburb Sales Report provides sales data which may be necessary for the major assignment. RPData is one of several private property data suppliers and data from another supplier will also be suitable for the assignment as they all tend to rely on the same ultimate data sources. Most property practises subscribe to either RPData or one of its competitors and many students will be able to access this data through arrangement with either employers or other practitioners with whom they have some relationship. CQUniversity has limited access to the service(covering Queensland and New South Wales only) which is available via the library (see Property Gateway for details). Do not pursue sales information until you have finalised the selection of a property for the major assignment and identified how it will be necessary in executing your project. Not all assignment tasks require this information.

The free suburb profile is a RPData service that may provide useful background contextual information for forming the market outlook for your assignment. In addition to this profile students should also explore other sources of market and economic commentary. As well as being useful to your assignment maintaining an interest in these commentaries will help you to keep abreast of the property markets for your future professional careers. Generally good quality market and economic outlook information is available at no cost from a variety of organisations who have interest in property, these include major property firms, banks, AMP society, the Reserve Banks of Australia and the Australian Bureau of Statistics.

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
Referencing Style

All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)

For further information, see the Assessment Tasks.

Teaching Contacts
Garrick Small Unit Coordinator
Week 1 Begin Date: 11 Mar 2019


Property as investment


6 (core): Introduction to Investment Property

& 14 (extension): Financial Mathematics

Events and Submissions/Topic

Week 2 Begin Date: 18 Mar 2019


Property Cash Flow Studies and Rental Valuations


15 (core): Rental Valuation and Determination

& 11 (extension): Retail and Commercial Property

Events and Submissions/Topic

Week 3 Begin Date: 25 Mar 2019


Partial interests


7: Commercial Office Property

Events and Submissions/Topic

Week 4 Begin Date: 01 Apr 2019


Ground Rent Determination


No set text but relevant literature available in the Unit Moodle site

Events and Submissions/Topic

Week 5 Begin Date: 08 Apr 2019


Development Valuations


10: Valuation of Subdivision Land

Events and Submissions/Topic

Vacation Week Begin Date: 15 Apr 2019



Events and Submissions/Topic

Week 6 Begin Date: 22 Apr 2019


Specialist valuations


3 (core): Approaches to Business valuation

12 (extension): Industrial Property

16 (extension): Valuation of Small Accommodation Establishments

& 17 (extension): Service Stations

Events and Submissions/Topic

Week 7 Begin Date: 29 Apr 2019


Investment Valuation Reports


8: Valuation Instructions and Reports

Events and Submissions/Topic

Week 8 Begin Date: 06 May 2019


Valuation of Land Affected by Customary Rights


No set text but relevant literature available in the Unit Moodle site

Events and Submissions/Topic

Week 9 Begin Date: 13 May 2019


Plant & Machinery Valuation


(core) 19: Valuation of Plant and Machinery

(extension) 18: Asset Valuation

Events and Submissions/Topic

Advanced Valuation Report Due: Week 9 Friday (17 May 2019) 11:45 pm AEST
Week 10 Begin Date: 20 May 2019


Emerging Factors in Property and Valuation


No set text but relevant literature available in the Unit Moodle site

Events and Submissions/Topic

Week 11 Begin Date: 27 May 2019


Professional Practice and Market Analysis


No set text but relevant literature available in the Unit Moodle site

Events and Submissions/Topic

Week 12 Begin Date: 03 Jun 2019


Property and the Environment


No set text but relevant literature available in the Unit Moodle site

Events and Submissions/Topic

Review/Exam Week Begin Date: 10 Jun 2019



Events and Submissions/Topic

Exam Week Begin Date: 17 Jun 2019



Events and Submissions/Topic

Assessment Tasks

1 Written Assessment

Assessment Title
Advanced Valuation Report

Task Description

This assignment consists of an advanced valuation project of the sort encountered in property economics practice. It will require valuation skills and the ability to creatively apply property economics theory to a practical problem in the property investment and/or development arena. The submission will consist of a consultancy report based on a valuation of an actual investment or specialist property.

Specific details will be found on Moodle.

File to be in a word processor format able to be opened by Microsoft Word (e.g. ".doc" format).

Assessment Due Date

Week 9 Friday (17 May 2019) 11:45 pm AEST

File to be in a word processor format able to be opened by Microsoft Word (e.g. ".doc" format).

Return Date to Students

Week 11 Friday (31 May 2019)


Assessment Criteria

The assessment will be marked against the following criteria:

1 Presentation
2 Property Description
3 Economic Outlook
4 Valuation approach
5 Computations
6 Ground Rent or DF
7 Practitioner contact
8 Insightfulness

The criteria are not equally weighted and further details of assessment criteria may be found on the Moodle site.

Referencing Style

Offline Group

Learning Outcomes Assessed
  • Apply advanced valuation methods to value complex or specialised property types.
  • Articulate emerging issues in property economics.
  • Effectively communicate with diverse stakeholders on complex or specialised property.

Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking
  • Information Literacy
  • Information Technology Competence
  • Cross Cultural Competence
  • Ethical practice


Complete an invigilated examination

During the examination period, at a CQUniversity examination centre


120 minutes

Calculator - all non-communicable calculators, including scientific, programmable and graphics calculators are authorised
Dictionary - non-electronic, concise, direct translation only (dictionary must not contain any notes or comments).
Closed Book
Academic Integrity Statement

As a CQUniversity student you are expected to act honestly in all aspects of your academic work.

Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.

When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.

Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.

As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.

What is a breach of academic integrity?

A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.

Why is academic integrity important?

A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.

Where can I get assistance?

For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.

What can you do to act with integrity?