Last modified: 22 May 2019 17:07
This course deals with the detail of why property requires to be valued and how the valuation process operates in the UK by way of the implementation of the RICS “Red Book”. The five property valuation methods are discussed via a series of lectures supplemented by tutorials/workshops in which valuation problem-solving tasks are discussed, with a focus on the investment method and the critique of traditional approaches. Practical valuation exercises are undertaken, which include the inspection and measurement of property and the analysis of comparable evidence.
|Session||Second Sub Session||Credit Points||15 credits (7.5 ECTS credits)|
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.
Information on contact teaching time is available from the course guide.
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 examination (100%).
This will take place both through tutorial discussions and practice valuation exercises.
They will also receive model answers to selected practice exercises as well as verbal feedback in the course of tutorial discussions.