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).
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.
|Coursework||Scheduled in class mini tests (All Learning Outcomes)||40%|
|Examination||One and a half hour unseen examination||60%|
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
- 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).