Property Development

This subject has the following teaching availabilities in 2011:

Entry into the Melbourne School of Design or approval from the subject coordinator.

702-418/702-659 "Land Economy"

702-418/702-659 "Property Development and Investment"

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements of this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

This subject aims to give students the knowledge and skills to be able to operate as a property professional in the area of development advice and decision making in property development. It comprises:

• the development process and the major players;
• time value of money;
• the decision to build;
• property market research and analysis;
• appreciation of investment and market valuation methods;
• development appraisal including residual analysis and cash flow modelling;
• price and worth; risk, return and risk analysis.

On completion of the subject students should be able to:

• understand the important factors influencing the decision to build and develop a property;
• place property in the context of business organizations, property, urban planning, design, construction and quantity surveying;
• identify a site or property suitable for a major property development;
• complete a development appraisal for a major property development;
• model property development cash flow;
• apply industry standard software to the development process;
• evaluate the viability of property development proposals.

• One end of semester three hour examination (50%).
• One assignment (20%) - 1500 words due mid-semester.
• One assignment (30%) - 2000 words due towards the end of the semester.

A minimum mark of 40% must be achieved in the examination in order to pass the subject.

This subject is not available as a breadth subject.

On completion of the subject students should have developed the following skills and capabilities:

• professional/industry communication;
• team working;
• analytical and problem solving skills;
• experience of industry software applications.