702-418 Property Development

Formerly available as 702-418/659 Land Economy and 702-418/659 Property Development and Investment. Students who have completed 702-418/659 are not eligible to enrol in this subject.

Admission to a post-BPD program or permission of the subject co-ordinator.

This subject aims to give students the knowledge and skills to be able to operate as a property, design or construction professional in the area of development advice and decision-making in property development. It comprises the development process and the major players; time value of money; the decision to build; property market research and analysis; appreciation of investment and market valuation methods; development appraisal including residual analysis and cash flow modelling; price and worth; risk, return and risk analysis.

On completion of the subject students should be able to:

• Understand the important factors influencing the decision to build and develop a property.

• Place property in the context of business organizations, property, urban planning, design, construction and quantity surveying.

• Identify a site or property suitable for a major property development.

• Complete a development appraisal for a major property development.

• Model property development cash flow.

• Apply industry standard software to the development process.

• Evaluate the viability of property development proposals.

On completion of the subject students should have developed the following skills and capabilities:

• Professional/industry communication.

• Team working.

• Analytical and problem solving skills.

• Experience of industry software applications.

One three-hour examination (50%) and assignments totalling not more than 3000 words (50%). A minimum mark of 40% must be achieved in the examination in order to pass the subject.

• 702418, Study Guide and Reader. Annual publication.
• Australian Property Institute, The Valuation of Real Estate. Australian Property Institute, Canberra, 2007.