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PROPERTY

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PO 2505
PRINCIPLES OF PROPERTY VALUATION
CREDIT POINTS 15

Course Co-ordinator: TBC

Pre-requisite(s): PO 1002.

This course introduces students to the concept of value in UK real estate markets, including an examination of the distinguishing features of real estate markets and the different types of legal interests in property. It examines the five main methods of valuation with particular emphasis on the comparable and investment methods. Through lecture examples and tutorial exercises, the course teaches a structured approach to the assimilation and analysis of relevant evidence for valuation. It also utilizes compounding and discounting techniques and applies these to the valuation of various property types and interests. Lastly, the practical context in which valuations are conducted is considered, including the workings of the RICS Valuation Standards and how valuations are reported.

2 one-hour lectures per week, 1 one-hour tutorial every two weeks, plus occasional half-day site visits.

1st Attempt: 1 two-hour written examination (80%) and one piece of in-course assessment (20%) consisting of a 2,000 word professional report.

Resit: 1 two-hour written examination (80%) plus in-course assignment mark carried forward.