PROPERTY 311 : Advanced Valuation
Business and Economics
2020 Semester Two (1205) (15 POINTS)
Course Prescription
Course Overview
The aim of this course is to provide you with opportunity to deepen your knowledge of the application of the theory and practice of valuation. You will build on the valuation studies so far making advanced applications of valuation techniques to more markets for complex and specialised property scenarios and considering the practical limitations and current issues in valuing such property. You will also develop the underpinning knowledge and skills required to perform rudimentary valuations by solving authentic property valuation problems and reporting to clients appropriately through the Valuation Standards and other professional requirements. This will prepare you for a career as a Registered Valuer and contribute towards the process of gaining membership of professional organisations such as the RICS, PINZ and NZIV.
Capabilities Developed in this Course
Capability 1: | Disciplinary Knowledge and Practice |
Capability 2: | Critical Thinking |
Capability 3: | Solution Seeking |
Capability 4: | Communication and Engagement |
Learning Outcomes
- Critically analyse information and key market indicators relevant for effective valuation decision making (Capability 1 and 2)
- Identify, evaluate and apply appropriate valuation techniques and tools applicable to a wide and diverse range of complex and specialised valuation scenarios (Capability 1, 2 and 3)
- Devise and explain appropriate valuation solutions and use reporting standards to prepare and communicate these in a professional manner (Capability 1, 3 and 4.2)
Assessments
Assessment Type | Percentage | Classification |
---|---|---|
Workshops | 10% | Individual Coursework |
Assignments | 50% | Group & Individual Coursework |
Final Exam | 40% | Individual Examination |
3 types | 100% |
Assessment Type | Learning Outcome Addressed | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
1 | 2 | 3 | ||||||||
Workshops | ||||||||||
Assignments | ||||||||||
Final Exam |
Workload Expectations
This course is a standard 15 point course and students are expected to spend 10 hours per week involved in each 15 point course that they are enrolled in.
For this course, you can expect 12 hours of lectures, 24 hours of tutorial/workshop, 54 hours of reading and thinking about the content and 60 hours of work on assignments.
Learning Resources
- API and PINZ, 2009. Australia and New Zealand Valuation and Property Standards. Deakin: Australian Property Institute
- IVSC, 2017. International Valuation Standards. London: International Valuation Standards Council
- PCNZ and PINZ, 2013. Guide for the Measurement of Rentable Areas. Wellington: Property Institute of New Zealand
- Jefferies, R.L. 1991. Urban Valuation in New Zealand (Vol. 1, 2nd Edition). Wellington: New Zealand Institute of Valuers.
- Shapiro, E., Mackmin, D. and Sams, G., 2013. Modern Methods of Valuation. Taylor & Francis.
- Fisher, J.D. and Martin, R.S., 2008. Income Property Valuation (3rd Edition). Dearborn Financial Publishing Inc.
- Bond, P.H. and Brown, P.K., 2017. Rating valuation: principles and practice. Routledge.
- Denyer-Green, B., 2013. Compulsory purchase and compensation. Taylor & Francis.
- Harper, D., 2013. Valuation of hotels for investors. Taylor & Francis.
- Baum, A.E. and Crosby, N., 2014. Property Investment Appraisal (4th Edition). John Wiley & Sons.
- Whipple, R.T.M., 2006. Property Valuation and Analysis. Lawbook.
- All students will require a HP 10B II financial calculator or equivalent for this paper.
Other Information
Digital 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.
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.
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 at 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.
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.
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 you may be asked to submit your 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. The final decision on the completion mode for a test or examination, and remote invigilation arrangements where applicable, will be advised to students at least 10 days prior to the scheduled date of the assessment, or in the case of an examination when the examination timetable is published.