PROP11001 - Property Valuation

General Information

Unit Synopsis

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

Level Undergraduate
Unit Level 1
Credit Points 6
Student Contribution Band SCA Band 4
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites There are no pre-requisites for the 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).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 1 - 2024

Term 1 - 2024 Profile
Online
Term 1 - 2025 Profile
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).

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.

Assessment Tasks

Assessment Task Weighting
1. Written Assessment 50%
2. Take Home Exam 50%

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

Past Exams

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Previous Feedback

Term 1 - 2024 : The overall satisfaction for students in the last offering of this course was 75.00% (`Agree` and `Strongly Agree` responses), based on a 14.81% response rate.

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.

Source: SUTE
Feedback
Evaluation categories scoring less than 80% are clear unit requirements, useful knowledge/skills, and unit relevant to degree.
Recommendation
Much of this may relate to the subjective nature of property valuation. That said, the coordinator should work on making assessment expectations even clearer upfront and explicitly provide further scaffolding for non-property students.
Action Taken
Scaffolding during weekly classes assisted with one student commenting 'Fantastic structure from week 1. [UC} was clear with exactly how each week contributed to the assignment task and then the exam. He provided reassurance and guidance around what to focus on and what was considered further study.' (SUTE 2024)
Source: SUTE 2024
Feedback
'The textbook is old and now out of print.'
Recommendation
The foundation text is a seminal work by an author that is not longer around. That said, it is time to review the text.
Action Taken
In Progress
Source: SUTE 2024
Feedback
'[UC] was an excellent mentor and very knowledgeable in the Property market. He answered all our questions during the zooms no matter how off track we were. He has a warming vibe where nothing is a problem, and he replies to emails promptly. Overall, my favourite subject so far :) '
Recommendation
Continue to focus on the market and retain the structure of the weekly classes.
Action Taken
In Progress
Source: SUTE 2024
Feedback
'Fantastic structure from week 1. [UC] was clear with exactly how each week contributed to the assignment task and then the exam. He provided reassurance and guidance around what to focus on and what was considered further study.'
Recommendation
Continue with the weekly approach to scaffold the assessment.
Action Taken
In Progress
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 Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4
1 - Written Assessment • • • •
2 - Take Home Exam • • •
Alignment of Graduate Attributes to Learning Outcomes
• Introductory Level
• Intermediate Level
• Graduate Level
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 • • • •
Alignment of Assessment Tasks to Graduate Attributes
• Introductory Level
• Intermediate Level
• Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10