Valuation & Appraisal

PLAN21012 Valuation & Appraisal 20 Semester 2 Undergraduate Level 2 Mark Shepherd Unit coordinator Planning, Property and Environmental Management 1 FHEQ level (Framework for Higher Education Qualifications) ' Middle part of Bachelors ' European Credit Transfer & Accumulation System Rating : 10.0 In this unit you will consider the role of property and the purpose of valuation. You will examine the five principal methods of valuation and their application. Through lectures and workshops 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.Through the assessment process, you will be able to explore a sector of the property market in depth. You will also have the opportunity to inspect and measure, for valuation purposes, a commercial building in Manchester City Centre and prepare a valuation report, having regard to the appropriate professional regulations.  In this unit you will consider the role of property and the purpose of valuation. You will examine the five principal methods of valuation and their application. Through lectures and workshops 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.Through the assessment process, you will be able to explore a sector of the property market in depth. You will also have the opportunity to inspect and measure, for valuation purposes, a commercial building in Manchester City Centre and prepare a valuation report, having regard to the appropriate professional regulations. The unit aims to: 1. Introduce the principal methods of property valuation and measurement. 2. Enable students to practice and develop skills in the application of these methods of valuation to a range of sectors. 3. Support students to identify and evaluate the physical, legal, and economic factors affecting the value of real estate assets. 4. Explore the regulatory framework governing property valuation in practice Expected outcomes: As future built environment professionals, the market value of land and property, the viability of development projects and the financial implications of different choices underpin decision-making in practice.The applied data collection, analysis and application in this unit represent transferable skills appropriate to a range of sectors including real estate, town planning and finance. This also applies to the ability to communicate complex financial concepts and processes to professional and lay audiences.Skills in property valuation and appraisal are essential for entry into any pathway to qualification within our accrediting institution - the RICS - and are a fundamental expectation of potential employers in the real estate sector. These employers also expect students to have the ability to work within an ethical framework and adhere to local, national and international regulatory requirements. This unit provides a thorough grounding in these areas.Students should be able to: Identify and explain the five principal methods of property valuation, their application, advantages and disadvantages.Recognise, explain and evaluate the factors affecting rental values, capital values and investment yields.Explain the framework of regulation for valuation practice in the UK and international contexts.  Select and analyse property market data for input into the property valuation process. Select appropriate valuation techniques and apply them accurately in a range of contexts. Demonstrate numeracy skills through the appreciation of issues around selection, accuracy, uncertainty and approximation with numbers.Communicate ideas effectively through presentations and professional reports. A range of teaching and learning methods will be adopted with conventional lectures used to introduce the topics in a structured manner. Workshops will be used to apply valuation and measurement techniques and to facilitate critical debate about key issues in valuation theory and practice. There will be opportunities to explore current issues with valuation practitioners to ensure that any valuation debate is grounded in current practice. A key element of this unit is the on-site inspection and measurement exercise to allow these skills to be applied in a real-world environment. All unit material will be available online. Formative feedback will be provided through Q&A, discussion and interactive activities within lectures and workshops. Verbal feedback will be available on coursework discussed during consultation hours and assignment surgeries. Where appropriate, the discussion board on the VLE will be used as a repository for FAQs.  0 Other 100% <figure class="table"><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:376px;"><h3>Assessment activity</h3></td><td style="width:94px;">Length required</td><td style="width:161px;">Weighting within unit</td></tr><tr><td style="width:376px;">Group activity: Rental property inspection and market analysis presentation</td><td style="width:94px;">15 minutes</td><td style="width:161px;">30%</td></tr><tr><td style="width:376px;">Individual activity: Property capital valuation report</td><td style="width:94px;">3,000 words</td><td style="width:161px;">70%</td></tr></tbody></table></figure>  Written or audio feedback via Turnitin within the standard timeframe specified by the University. Masters Planning and Real Est Masters Planning and Real Est Second Year Mandatory Master of Planning (MPLAN)(FT) Master of Planning (MPLAN) FT Second Year Mandatory BSc Planning and Real Estate BSc (Hons) Planning & Real Est Second Year Mandatory Bsc PRE with Placement BSc (Hons) PRE with Placement Second Year Mandatory Masters Plan and Real Est w Pl Masters Plan and Real Est w P Second Year Mandatory Master of Planning w Placement Master of Planning w Placement Second Year Mandatory N Baum A., Mackmin D. and Nunnington N. (2017) The Income Approach to Property Valuation (7th Edition), Oxford: EG Books Hayward R. (Ed.) (2008) Valuation: Principles into Practice (6th Edition), Abingdon: EG Books Millington A. F. (2000) An Introduction to Property Valuation (5th Edition), London: Estates Gazette Shapiro E., Mackmin D. and Sams G. (2019) Modern Methods of Valuation (12th Edition), Abingdon: Routledge Wyatt P. (2022) Property Valuation (3rd Edition), Oxford: Wiley-Blackwell Fieldwork 2 Lectures 11 Seminars 11 0 176