PROPERTY 211 : Property Valuation
Business and Economics
2023 Semester One (1233) (15 POINTS)
Course Prescription
Course Overview
This course aims to develop the students’ understanding of the underlying principles of property valuation and to equip them to apply valuation methods and techniques. The course builds on the basic principles established in introduction to property at level 4 and provides foundation of knowledge underpinning applied valuations studied at level 6. It considers the valuation process, regulatory and sustainability issues, and develops students’ abilities to undertake valuations of the most common property types for different purposes. Through the assessment process, students will be able to research and analyse property and market data, develop an understanding of the critical factors influencing value and undertake a real life valuation of a commercial property
Course Requirements
Capabilities Developed in this Course
| Capability 1: | Disciplinary Knowledge and Practice |
| Capability 2: | Critical Thinking |
| Capability 3: | Solution Seeking |
| Capability 4: | Communication and Engagement |
| Capability 5: | Independence and Integrity |
Learning Outcomes
- Understand and apply the different concepts and role of property valuation, the factors affecting the value of property and the regulatory framework under which valuations are undertaken (Capability 1, 2 and 3)
- Demonstrate an understanding of property measurement and valuation approaches and their application in a range of contexts (Capability 1, 2 and 3)
- Identify, analyse and apply information and key market indicators relevant for producing effective valuation of a commercial property (Capability 1, 2, 3 and 5.1)
- Demonstrate ability to apply key valuation approaches to value a commercial property and communicate the outcomes of the valuation effectively through a written format. (Capability 1, 3 and 4.2)
Assessments
| Assessment Type | Percentage | Classification |
|---|---|---|
| Workshop Exercises | 30% | Individual Coursework |
| Technical Analysis | 30% | Individual Coursework |
| Final Exam | 40% | Individual Examination |
| 3 types | 100% |
| Assessment Type | Learning Outcome Addressed | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |||||||
| Workshop Exercises | ||||||||||
| Technical Analysis | ||||||||||
| Final Exam | ||||||||||
To pass this course, the student must obtain over the whole course, a minimum of 50% of the total marks available, and a minimum mark of 45% in the final exam.
Workload Expectations
This course is a standard 15 point course and students are expected to spend 10 hours per week in each 15 point course that they are enrolled in.
For this course, you can expect 12 hours of lectures, 24 hours of workshops, 54 hours of reading and thinking about the content and 60 hours of work on assignments preparation.
Delivery Mode
Campus Experience
Attendance is required at scheduled activities including workshops to complete components of the course.
Lectures will be available as recordings. Other learning activities including workshops and guest lectures will not be available as recordings.
The course will not include live online events including workshops.
Attendance on campus is not required for the exam.
The activities for the course are scheduled as a standard weekly module.
Learning Resources
Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).
Please remember that the recording of any class on a personal device requires the permission of the instructor.
Student Feedback
At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.
Your feedback helps teachers to improve the course and its delivery for future students.
Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.
Based on feedback from students this year, lectures and other learning materials would be made available on time to allow sufficient time for students to review them ahead of the workshop sessions. Also, the assignment would be split into two parts to reduce workload.
Other Information
The designated class time will include a series of interactive lectures and workshops. The lectures will be used to present the core materials while given you the opportunity to consider practical application of the valuation related content through worked example and discussion during the workshops. You will also be provided with formative feedback throughout the workshops.
Academic Integrity
The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.
Class Representatives
Class representatives are students tasked with representing student issues to departments, faculties, and the wider university. If you have a complaint about this course, please contact your class rep who will know how to raise it in the right channels. See your departmental noticeboard for contact details for your class reps.
Inclusive Learning
All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course coordinator, lecturer or tutor.
Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website http://disability.auckland.ac.nz
Special Circumstances
If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a member of teaching staff as soon as possible before the assessment is due.
If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.
This should be done as soon as possible and no later than seven days after the affected test or exam date.
Learning Continuity
In the event of an unexpected disruption, we undertake to maintain the continuity and standard of teaching and learning in all your courses throughout the year. If there are unexpected disruptions the University has contingency plans to ensure that access to your course continues and course assessment continues to meet the principles of the University’s assessment policy. Some adjustments may need to be made in emergencies. You will be kept fully informed by your course co-ordinator/director, and if disruption occurs you should refer to the university website for information about how to proceed.
Student Charter and Responsibilities
The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html.
Disclaimer
Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.
In this course students may be asked to submit coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. In exceptional circumstances changes to elements of this course may be necessary at short notice. Students enrolled in this course will be informed of any such changes and the reasons for them, as soon as possible, through Canvas.