Module
Valuation 1
- Module code
- 1016 / 1016DL
- Module leader
- Matthew Smith
- Module level
- 4
- Module credits
- 15
- Prerequisites
- None
- Min study time
- 150 hours
- Contact Hrs within study time
- 40 hours (campus) / 18 hours (distance learning)
- Teaching period
- Semester 1 (campus) / Varies (distance learning)
Module content
The nature of the property market, including types of property and types of tenure. The application of the comparative, investment and residual methods of valuation to the assessment of property values. The principles of compounding, discounting and present value and the use of valuation tables and formulae. Introduction to RICS Valuation - Professional Standards (the Red Book).
Module outcomes
To achieve credit for this module, students must be able to:
- Explain the factors which underpin value in the property market.
- Use the comparative method of valuation to assess the market rent and market value of example properties.
- Use valuation tables and/or formulae to explain the application of the principles of compounding, discounting and present value to simple investment problems.
- Use the investment method of valuation to assess the market value of properties with a rental income stream.
- Use the residual method of valuation to assess the market value of development property.
Assessment
| Assessment | Description | Weighting |
|---|---|---|
| Coursework | Random Mini Tests | 40% |
| Examination | Unseen exam (1.5 hours) | 60% |
Key texts
Students should be familiar with the content of at least one of the following:
- Blackledge, M. (2009) Introducing Property Valuation. Routledge. Available as an e-book through Dawsonera (via Library website).
- Davidson, A.W. (2013) Parry’s valuation and investment tables. 13th edition. Routledge
Supporting texts
- Estates Gazette (weekly journal) also available as Estates Gazette Interactive (EGi) via Library website.
- RICS (2014) RICS Valuation - Professional Standards (the Red Book). Royal Institution of Chartered Surveyors.
- Scarrett, D. (2014) Property Valuation: The 5 Methods. 3rd ed. Routledge. Available as an e-book through Dawsonera (via Library website).
- Shapiro, E., Mackmin, D. and Sams, G. (2013) Modern methods of valuation
- 11th ed. Estates Gazette. Available as an e-book through Dawsonera (via Library website).