Property Development

This subject has the following teaching availabilities in 2012:

Students are advised to check the timetable for this subject as it may be taught intensively and/or involve contact time over several days.

120 hours

Either

702-115 Introduction to Property

OR

702-115 Property 1

OR

702-211 Income Property Analysis

OR

702-361 Construction Cost Planning

Time value of money, fundamentals of financial analysis, or research skills.

The below disallowed subjects were formerly known as:

702-418/659 Land Economy

702-418/659 Property Development and Investment

Students who have completed any of the above or below subjects are not eligible to enrol in this subject.

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 course are articulated in the Course Description, Course Objectives and Generic Skills 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, design or construction 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%) and assignments totally not more than 5000 words (50%).

A minimum mark of 40% must be achieve 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.

Formerly available as 702-418/702-659 Land Economy and 702-418/702-659 Property Development and Investment. Students who have completed 702-418/702-659 are not eligible to enrol in this subject.