Advanced Property Analysis

This subject is not offered in 2013.

120 hours

Admission to one of the following courses:

MC-PROP2Y Master of Property 200 points

702PA Graduate Diploma of Property Valuation

OR

Completion of the following two subjects:

ABPL90274 Property Markets and Valuation

ABPL90275 Property Resources Management

In addition to the above all students must have completed (or be enrolled in) ABPL90045 Statutory Valuation or equivalent.

OR

or 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, retirement 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 rate;
• 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.

• One three-hour end of semester examination (50%).
• One class presentation (15%) and One assignment (35%) both due at the end of the semester.

Presentation and assignment totalling no more than 3,000 words.

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

• Whipple, R.T.M. (2006), Property Valuation and Analysis, second edition, Law Book Company Limited.
• Australian Property Institute (2007), The Valuation of Real Estate, API, Canberra.
• Expanded lecture notes and additional prescribed and recommended readings (provided on the LMS).

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.