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The current and official versions of the course specifications are available on the web at https://www.usq.edu.au/course/specification/current.
Please consult the web for updates that may occur during the year.

SVY3302 Property Valuation and Development

Semester 2, 2021 On-campus Toowoomba
Short Description: Property Valuation&Development
Units : 1
Faculty or Section : Faculty of Health, Engineering and Sciences
School or Department : School of Civil Engineering and Surveying
Student contribution band : Band 2
ASCED code : 031101 - Surveying
Grading basis : Graded
Version produced : 17 April 2021

Staffing

Examiner: Paula Grant

Rationale

Surveyors, Planners and GIS professionals are inextricably involved in the process of property development. To appropriately fulfil their roles, they need a thorough understanding of developer motivations, risks and opportunities.

Synopsis

Real property is both a necessity for living and a potential source of economic growth and profit. This course provides an overview of property as an economic asset and an investment vehicle. It highlights the risks and opportunities that come with developing residential property for the market and introduces students to the development process from conception to construction to disposal. The course will describe the basic principles of land valuation for land markets and statutory purposes that is an essential tool for rational decision making in property development.

Objectives

The course objectives define the student learning outcomes for a course. On completion of this course, students should be able to:

  1. describe the factors affecting the supply of and demand for land and development
  2. apply knowledge of the principles of valuation for land and improvements on land
  3. analyse the potential of a site for development
  4. apply property development appraisal and feasibility techniques
  5. compare property development funding and financial structures
  6. explain decision constraints on construction and disposal alternatives

Topics

Description Weighting(%)
1. Factors affecting property development 25.00
2. Property and land valuation 25.00
3. The Investment decision 20.00
4. The Development decision 30.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/?year=2021&sem=02&subject1=SVY3302)

Please contact us for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)

There are no texts or materials required for this course.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
Sims, S. and Reed, R. 2014, Property Development, 6th edn, Taylor & Francis Ltd, UK (ISBN: 9780415825184).
Whipple, RTM 2006, Property valuation and analysis, 2nd edn, Law Book Co Ltd, Australia.

Student workload expectations

Activity Hours
Assessments 50.00
Lectures 26.00
Private Study 66.00
Tutorials 13.00

Assessment details

Description Marks out of Wtg (%) Due Date Objectives Assessed Notes
Assignment 1 200 20 23 Aug 2021 1,2
Assignment 2 200 20 24 Sep 2021 4,5
Exam 600 60 End S2 1,2,3,4,5,6 (see note 1)

Notes
  1. This will be a restricted exam. The total working time for the examination is 2 hours. The examination date will be available via UConnect when the official examination timetable has been released.

Important assessment information

  1. Attendance requirements:
    It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks or a grade of at least C-. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)

  3. Penalties for late submission of required work:
    Students should refer to the Assessment Procedure http://policy.usq.edu.au/documents.php?id=14749PL (point 4.2.4)

  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade a student must obtain at least 50% of the total weighted marks available for the course (i.e. the Primary Hurdle), and have satisfied the Secondary Hurdle (Supervised), i.e. the end of semester examination by achieving at least 40% of the marks available for that assessment item.

    Supplementary assessment may be offered where a student has undertaken all of the required summative assessment items and has passed the Primary Hurdle but failed to satisfy the Secondary Hurdle (Supervised), or has satisfied the Secondary Hurdle (Supervised) but failed to achieve a passing Final Grade by 5% or less of the total weighted Marks.

    To be awarded a passing grade for a supplementary assessment item (if applicable), a student must achieve at least 50% of the available marks for the supplementary assessment item as per the Assessment Procedure http://policy.usq.edu.au/documents/14749PL (point 4.4.2).

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks /grades obtained for each of the summative assessment items in the course.

  6. Examination information:
    Candidates are allowed access only to specific materials during a Restricted Examination. The only materials that candidates may use in the restricted examination for this course are: writing materials (non-electronic and free from material which could give the student an unfair advantage in the examination); calculators which cannot hold textual information paper the make and model of any calculator(s) they use during the examination).

  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.

Assessment notes

  1. The due date for an assignment is the date by which a student must despatch the assignment to the USQ. The onus is on the student to provide proof of the despatch date, if requested by the Examiner.

  2. Students must retain a copy of each item submitted for assessment. This must be despatched to USQ within 24 hours if required by the Examiner.

  3. In accordance with University Policy, the Examiner may grant an extension of the due date of an assignment in extenuating circumstances.

  4. If electronic submission of assessments is specified for the course, students will be notified of this in the course Introductory Book and on the USQ Study Desk. All required electronic submission must be made through the Assignment Drop Box located on the USQ Study Desk for the course, unless directed otherwise by the examiner of the course. The due date for an electronically submitted assessment is the date by which a student must electronically submit the assignment. The assignment files must be submitted by 11.55pm on the due date using USQ time (as displayed on the clock on the course home page; that is, Australian Eastern Standard Time).

  5. If the method of assessment submission is by written, typed or printed paper-based media students should (i) submit to the Faculty Office for students enrolled in the course in the on-campus mode, or (ii) mail to the USQ for students enrolled in the course in the external mode. The due date for the assessment is the date by which a student must (i) submit the assessment for students enrolled in the on-campus mode, or (ii) mail the assessment for students enrolled in the external mode.

  6. The Faculty will NOT normally accept submission of assessments by facsimile or email.

  7. Students who do not have regular access to postal services for the submission of paper-based assessments, or regular access to Internet services for electronic submission, or are otherwise disadvantaged by these regulations may be given special consideration. They should contact the examiner of the course to negotiate such special arrangements prior to the submission date.

  8. Students who have undertaken all of the required assessments in a course but who have failed to meet some of the specified objectives of a course within the normally prescribed time may be awarded the temporary grade: IM (Incomplete - Make up). An IM grade will only be awarded when, in the opinion of the examiner, a student will be able to achieve the remaining objectives of the course after a period of non-directed personal study.

  9. Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation. One of the following temporary grades may be awarded IDS (Incomplete - Deferred Examination); IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).

  10. Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide. http://www.usq.edu.au/library/referencing.

Date printed 17 April 2021