Advanced Property Analysis

This subject is not offered in 2013.

120 hours

Either one of the subects below or an equivalent.

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 subject builds on property fundamentals and focuses on research in the real estate market. The subject aims to give you a range of applied skills in advanced property analysis, such as:

• contemporary consideration in valuation of specialist properties (e.g. rural properties, shopping centres, retirements homes, leisure centres, resorts, easements, etc);
• advanced financial analysis;
• composition and functioning of the property lending market;
• property lenders and lending products;
• the determination (and assessment of major determinants) of lending interest rates;
• contemporary risk issues;
• measurement of returns.
  

When you have completed this subject you should be able to:

• use a variety of market research techniques;
• appreciate the challenges faced when assessing the value of non conventional property;
• understand, both basic and advanced, techniques of financial analysis and how they apply to property analysis;
• understand composition and functioning of the property lending market;
• appreciate complexities and interdependencies of risk and return relationship;
• understand how Australian lenders determine their lending interest rates;
• develop the necessary skills to undertake a small research project.

• Class presentation and assignments totaling no more than 3000 words (50%).
• One three hour end of semester examination (50%).

A minimum grade of at least 40% must be achieved in the final examination to pass the subject.

• Whipple, R. T. M., Property Valuation and Analysis, Law Book Company Limited, 1995.
• Australian Property Institute, The Valuation of Real Estate, API, Canberra, 2007

This subject is not available as a breadth subject.

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

• professional/industry communication;
• applied research skills;
• analytical and problem solving skills.