PROP 7005 - Introduction to Property and Valuation - Property, People and Profit

North Terrace Campus - Semester 2 - 2024

This introductory course helps to explain the world of property and will provide you with an understanding as to how property works in real life and equip you with the tools to be able to value property, whether it is a flat, house or commercial property. Property is fundamental to our lives. Everyone lives in a property and most of us work inside a property. Understanding how property works is a key real-life lesson, whether you are looking to make a profit from investing in property or buying a home This course is compulsory for all students studying the Master of Property. The course has been structured to also cater for non-Property students who are wanting to enrol in an elective course that can provide them with the basic knowledge that is required when buying property, whether it is your first home, dream home or an investment property. There is no assumed knowledge, pre-requisite or co-requisite courses if you choose to enrol in this course. Where possible, the assessments are based on the real-life property market. The learnings from the course and assessments can be transferred so that you better understand property in the wider context and how to determine the value of an extensive ranqe of properties.

  • General Course Information
    Course Details
    Course Code PROP 7005
    Course Introduction to Property and Valuation - Property, People and Profit
    Coordinating Unit Construction Management
    Term Semester 2
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact 3 hours per week
    Available for Study Abroad and Exchange Y
    Incompatible CORPFIN 7049
    Course Description This introductory course helps to explain the world of property and will provide you with an understanding as to how property works in real life and equip you with the tools to be able to value property, whether it is a flat, house or commercial property.
    Property is fundamental to our lives. Everyone lives in a property and most of us work inside a property. Understanding how property works is a key real-life lesson, whether you are looking to make a profit from investing in property or buying a home

    This course is compulsory for all students studying the Master of Property. The course has been structured to also cater for non-Property students who are wanting to enrol in an elective course that can provide them with the basic knowledge that is required when buying property, whether it is your first home, dream home or an investment property.

    There is no assumed knowledge, pre-requisite or co-requisite courses if you choose to enrol in this course. Where possible, the assessments are based on the real-life property market. The learnings from the course and assessments can be transferred so that you better understand property in the wider context and how to determine the value of an extensive ranqe of properties.
    Course Staff

    Course Coordinator: Mr Peter Koulizos

    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes
    1. Discuss and evaluate the core drivers of property value and the property market in a global context.
    2. Outline the key concepts of the Torrens Title system and other selected land titling systems around the globe.
    3. Identify and interpret property data and apply the appropriate property valuation methods to determine the value of property and present in a professional report.
    4. Utilise the relevant town planning guidelines and legislation to derive development potential and compose a feasibility study.
    5. Recognise and calculate the impact of tax and finance on property prices and the market.
    6. Show a basic understanding of the time value of money.
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)

    Attribute 1: Deep discipline knowledge and intellectual breadth

    Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.

    1,2,3,4,5,6

    Attribute 2: Creative and critical thinking, and problem solving

    Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.

    1,3,4,5,6

    Attribute 3: Teamwork and communication skills

    Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.

    1,2,3,4,5,6

    Attribute 4: Professionalism and leadership readiness

    Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.

    1,3,4,5,6

    Attribute 5: Intercultural and ethical competency

    Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.

    1

    Attribute 6: Australian Aboriginal and Torres Strait Islander cultural competency

    Graduates have an understanding of, and respect for, Australian Aboriginal and Torres Strait Islander values, culture and knowledge.

    2

    Attribute 7: Digital capabilities

    Graduates are well prepared for living, learning and working in a digital society.

    3,4,5,6

    Attribute 8: Self-awareness and emotional intelligence

    Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.

    1,3,4,5,6
  • Learning & Teaching Activities
    Learning & Teaching Modes
    There are 10 weekly sessions in the course, plus a field trip. Each module addresses a specific topic and material is delivered in a variety of ways, including face to face lectures, readings, exercises and assignments based on the real world of property.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    The University expects full-time students (ie. those taking 12 units per semester) to devote at least 48 hours per week to their studies. Accordingly, students undertaking this 3 unit course are expected to devote 12 hours per week to contact activities and self-guided studies.


    Learning Activities Summary
    Weekly classes will consist of a lecture plus a workshop. There will be one field trip which is generally held on a Saturday, which provides the students the opportunity to inspect properties and attend auctions.
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment 1 - Video Suburb Report - 15%

    Assessment 2 - Oral Test - 15%

    Assessment 3 - Valuation Report - 40%

    Assessment 4 - Online Quiz on Commercial Property and Time Value of Money (TVM) - 20%

    Attendance and Participation - 10%
    Assessment Detail
    Assessment 1 - Video Suburb Report
    The purpose of this assessment is to get you out and about in your suburb. Conducting research and analysis behind a desk and on a computer is great but there is nothing like gaining local property knowledge of an area by walking, riding or driving around the locality.

    Assessment 2 - Oral Test
    Each student will undertake an oral test, based on the first few weeks of this course.

    The oral test will take approximately 15 to 20 minutes. There will be a series of questions. Not all students will be answering the same questions.

    Your answers should not only address "What" but also "Why". For some questions, it will be relevant to cite examples to help justify your answer.

    Assessment 3 - Valuation Report
    Major assignment

    Assessment 4 - Online Quiz on Commercial Property and Time Value of Money (TVM)
    The quiz will cover commercial property and the time value of money.

    You will need a calculator.
    The quiz is open book.
    Any unsubmitted work will automatically be submitted once the quiz closes.

    Attendance and Participation
    You are expected to attend all lectures and workshops.

    Up to 10% of the total marks are available for attendance and participation.

    You need to attend and participate well in all the workshops to score 10 out of 10.
    Submission
    All work should be submitted electronically using the course MyUni site. Students should ensure that work is submitted on time on or before the due date.
    Late work will not be marked.
    Extensions will be granted for valid reasons such as illness but these must be arranged with the course co-ordinator before the submission deadline.
    Where appropriate, Harvard referencing conventions should be used.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.