CQUniversity Unit Profile
PROP19003 Term 1 - 2021
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.
Corrections

Unit Profile Correction added on 30-03-21

Due to physical distancing requirements relating to the COVID-19 pandemic, invigilated exams have been replaced with an equivalent take-home exam.

General Information

Overview

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.

Details

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 - 2021

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

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 CQU Renew

Feedback

Moodle update

Recommendation

The presentation of Moodle unit sites is being refined for property and finance offerings. For consistency, this unit will require updating to the new tile format.

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

Textbooks

There are no required textbooks.

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Microsoft office Suite or equivalent (Especially Spreadsheets)
  • CoreLogic RPData
Referencing Style

All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)

For further information, see the Assessment Tasks.

Teaching Contacts
Garrick Small Unit Coordinator
g.small@cqu.edu.au
Steven Boyd Unit Coordinator
s.boyd@cqu.edu.au
Schedule
Week 1 Begin Date: 08 Mar 2021

Module/Topic

Property as investment

Chapter

6 (core): Introduction to Investment Property

& 14 (extension): Financial Mathematics

Events and Submissions/Topic

Week 2 Begin Date: 15 Mar 2021

Module/Topic

Property Cash Flow Studies and Rental Valuations

Chapter

15 (core): Rental Valuation and Determination

& 11 (extension): Retail and Commercial Property

Events and Submissions/Topic

Week 3 Begin Date: 22 Mar 2021

Module/Topic

Partial interests

Chapter

7: Commercial Office Property

Events and Submissions/Topic

Week 4 Begin Date: 29 Mar 2021

Module/Topic

Ground Rent Determination

Chapter

Relevant literature available in the Unit Moodle site.

Events and Submissions/Topic

Week 5 Begin Date: 05 Apr 2021

Module/Topic

Development Valuations

Chapter

10: Valuation of Subdivision Land

Events and Submissions/Topic

Vacation Week Begin Date: 12 Apr 2021

Module/Topic

Chapter

Events and Submissions/Topic

Week 6 Begin Date: 19 Apr 2021

Module/Topic

Specialist valuations

Chapter

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: 26 Apr 2021

Module/Topic

Investment Valuation Reports

Chapter

8: Valuation Instructions and Reports

Events and Submissions/Topic

Week 8 Begin Date: 03 May 2021

Module/Topic

Valuation of Land Affected by Customary Rights

Chapter

Relevant literature available in the Unit Moodle site.

Events and Submissions/Topic

Week 9 Begin Date: 10 May 2021

Module/Topic

Plant & Machinery Valuation

Chapter

(core) 19: Valuation of Plant and Machinery

(extension) 18: Asset Valuation

Events and Submissions/Topic

Advanced Valuation Report Due: Week 9 Friday (14 May 2021) 11:59 pm AEST
Week 10 Begin Date: 17 May 2021

Module/Topic

Emerging Factors in Property and Valuation

Chapter

Relevant literature available in the Unit Moodle site

Events and Submissions/Topic

Week 11 Begin Date: 24 May 2021

Module/Topic

Professional Practice and Market Analysis

Chapter

Relevant literature available in the Unit Moodle site

Events and Submissions/Topic

Week 12 Begin Date: 31 May 2021

Module/Topic

Property and the Environment

Chapter

Relevant literature available in the Unit Moodle site

Events and Submissions/Topic

Review/Exam Week Begin Date: 07 Jun 2021

Module/Topic

Chapter

Events and Submissions/Topic

Exam Week Begin Date: 14 Jun 2021

Module/Topic

Chapter

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 of an actual investment or specialist property. The submission will consist of a consultancy report based on a valuation.

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 (14 May 2021) 11:59 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 (28 May 2021) 12:00 am AEST


Weighting
50%

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

Submission
Online

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

Examination

Outline
Complete an examination

Date
During the University examination period

Weighting
50%

Length
120 minutes

Details
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).
Law dictionaries, Business and Law dictionaries (discipline specific dictionaries) are authorised.
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.

What can you do to act with integrity?

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.