Property Development

This subject is not offered in 2013.

120 hours

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

Students who have completed the following subjects are not eligible to enrol in this subject:

702-418/702-659 Land Economy

702-418/702-659 Property Development and Investment

702-418/702-659 Property Development

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 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.