Property Market Analysis

This subject has the following teaching availabilities in 2009:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This core subject for the Bachelor of Environments property major introduces students to the main systems and relationship - social, political, economic and environmental - which govern the operation of property markets with particular reference to urban property in Australia. More specifically, the nature of property and property market process and participants are examined.

Topics include:

• The character of property and property interests
• The nature of markets and exchange
• Property markets and their evolution
• Stakeholders
• Markets and sub-markets characteristics
• Highest and best use / property potential analysis
• Value and worth in the property context
• Property classes - residential, industrial, retail and commercial
• Public and private sector interests
• Market maturity
• Market analysis techniques
• Data sources
• Collection
• Analysis
• Synthesis and review
• Indicators of market movement
• International comparison

When students have completed this subject they should be able to:

• Understand the role of the urban property valuer in the Victorian property market context
• Be aware of the legal, financial, economic and managerial aspects of property valuation theory and practice at an introductory level

Complete the procedures involved in:

• Generating and reporting an opinion of value of the freehold interest in an owner occupied property and a single tenanted investment property lease at market rent
• Access, interpret and communicate a limited set of relevant property market transaction data

• One three-hour determination (70%)
• One individual exam (30%) totaling not more than 2000 words.

Valuation of Real Estate (2007) Australian Property Institute

This subject potentially can be taken as a breadth subject component for the following courses:

• Bachelor of Arts
• Bachelor of Biomedicine
• Bachelor of Commerce
• Bachelor of Environments
• Bachelor of Music
• Bachelor of Science

You should visit learn more about breadth subjects and read the breadth requirements for your degree, and should discuss your choice with your student adviser, before deciding on your subjects.

Upon successful completion of this subject students will have had the opportunity to develop the following generic skills:

• Analytical skills - an enquiring and analytical approach to the conduct of urban property valuation
• Communication skills - an enhanced ability to communicate property valuation opinions and other outcomes through written and oral presentations
• Solving problems - an increased body of knowledge associate with resolution of contemporary issues and practices in urban property valuation
• Team working skills - an enhanced ability to generate and communicate property valuation outcomes at an appropriate academic and professional standard