Property Valuation

PLAN71022 Property Valuation 20 Semester 2 Postgraduate Taught Level 7 Mark Shepherd Unit coordinator Planning and Environmental Management 1 FHEQ level (Framework for Higher Education Qualifications) ' Masters/Integrated Masters P4 ' European Credit Transfer & Accumulation System Rating : 10.0 In this module you will consider the role of property and the purpose of valuation. You will examine the five principal methods of valuation and their application. Working through the learning materials you will develop competence in applying these techniques to various property types and interests, with particular focus on the market and income approaches. You will research and analyse property data and develop understanding of the factors which affect value, the hierarchy of evidence and the reliability of valuations. This unit will enable you to critically consider contemporary issues in property valuation. Through the assessment process, you will be able to explore a sector of the property market in depth. You will have the opportunity to enhance your team working skills through the group task which will be based on a case study property about which you will receive plans, photographs and a video walk-through. You will also have the opportunity to prepare a property market report, having regard to the appropriate professional regulations.   In this module you will consider the role of property and the purpose of valuation. You will examine the five principal methods of valuation and their application. Working through the learning materials you will develop competence in applying these techniques to various property types and interests, with particular focus on the market and income approaches. You will research and analyse property data and develop understanding of the factors which affect value, the hierarchy of evidence and the reliability of valuations. This unit will enable you to critically consider contemporary issues in property valuation. Through the assessment process, you will be able to explore a sector of the property market in depth. You will have the opportunity to enhance your team working skills through the group task which will be based on a case study property about which you will receive plans, photographs and a video walk-through. You will also have the opportunity to prepare a property market report, having regard to the appropriate professional regulations.  The unit aims to: <div> • introduce the principal methods of property valuation and measurement• demonstrate the application of these methods in a range of contexts• explore the mathematical basis of different methods of valuation• critically examine the physical, legal and economic factors affecting the value of real estate assets and the regulatory framework under which valuations are carried out• critically investigate current issues in valuation practice </div>    On completion of this course unit students should be able to: <ul> <li> Critically discuss the characteristics of property markets across sectors and geographical areas</li> <li> Select appropriate valuation techniques and apply them accurately in a range of contexts</li> <li> Explain the framework of regulation for valuation practice in the UK and international contexts</li> </ul> On completion of this course unit students should be able to: <ul> <li> Critically appraise a range of valuation approaches and techniques and their application in a variety of property market conditions</li> <li> Reflect and comment upon the reliability and accuracy of single point estimate valuations</li> </ul>    On completion of this course unit students should be able to: <ul> <li> Demonstrate numeracy skills through the appreciation of issues around selection, accuracy, uncertainty and approximation with numbers</li> <li> Communicate ideas effectively though the preparation of professional reports and written essays</li> <li> Demonstrate negotiation skills to reach agreement, recognising cultural differences and ethical requirements</li> </ul> On completion of this course unit students should be able to: <ul> <li> Appreciate the role of professional regulation, including the role of lifelong learning</li> <li> Within a team, recognise and identify the views of others and work constructively with them</li> </ul>    This module is delivered entirely by distance-learning. You will receive access to the online virtual learning environment which will contain the learning materials and the online tools required to interact with tutors and your fellow students. The learning materials have been specifically designed to provide an interactive and carefully structured introduction to each topic, guidance on further reading, opportunities for reinforcement activity (checking that you can apply your knowledge) and formative feedback (monitoring your progress and identifying ways to improve). <div> The material is designed to allow you to study in a flexible manner (at your own pace) but there will be certain points during the block of study when summative (tutor-assessed) work will need to be submitted.The course materials should be considered as the starting point for your study of the subject and you should read as much professional literature (professional body publications, market reports and periodicals) and academic literature (textbooks and refereed journal articles) as you can.</div>   2 Written assignment (inc essay) 25% 3 Report 50% 9 Set exercise 25% MSc Real Estate Distance Learn MSc Real Estate Distance Learn PGDT Taught Component Mandatory N Blackledge M. (2009) Introducing Property Valuation, Abingdon: RoutledgeBaum A., Mackmin D. and Nunnington N. (2011) The Income Approach to Property Valuation (6th Edition), Oxford: EG Books Hayward R. (Ed.) (2008) Valuation: Principles into Practice (6th Edition, Abingdon: EG BooksMillington A. F. (2000) An Introduction to Property Valuation (5th Edition), London: Estates GazetteShapiro E., Mackmin D. and Sams G. (2013) Modern Methods of Valuation (11th Edition), Abingdon: RoutledgeWyatt P. (2013) Property Valuation (2nd Edition), Oxford: Wiley-Blackwell <h1> For Information and advice on Link2Lists reading list software, see:</h1> <a href="http://www.library.manchester.ac.uk/academicsupport/informationandadviceonlink2listsreadinglistsoftware/">http://www.library.manchester.ac.uk/academicsupport/informationandadviceonlink2listsreadinglistsoftware/</a>   Lectures 150 135