RE3AV-Applied Valuation

Module Provider: Real Estate and Planning
Number of credits: 10 [5 ECTS credits]
Level:6
Terms in which taught: Spring / Summer term module
Pre-requisites: RE1IAP Investment Appraisal
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Module version for: 2016/7

Module Convenor: Prof Peter Wyatt

Email: p.wyatt@reading.ac.uk

Summary module description:

Aims:
This module aims to provide you with opportunity to gain an improved understanding of the roles, methodologies and limitations of commercial property valuations and to enhance your knowledge of the application of valuation theory to practical problems in commercial property markets.

Assessable learning outcomes:
By the end of the module it is expected that you will be able to:

- Identify and discuss the role of valuations and the market environment in which they are performed.

- Perform and appraise valuations of non-standard lettings and properties;

- Critically compare and contrast international variations in valuation methodologies and contexts.

- Apply and analyse valuation techniques for statutory purposes.

Additional outcomes:
The module also aims to encourage the development of written and oral communication, team working, problem solving, business awareness and numeracy skills.

Outline content:
This module will address a number of specialist issues in property valuation and appraisal. The module will explore the context and methodologies of commercial property valuations focusing on topics such as:-

• Valuations standards and regulation
• Valuation accuracy, variance and uncertainty in UK and international markets
• Behavioural issues in valuation
• Sustainability issues in valuation
• Depreciated Replacement Cost valuations
• Valuations for business rates
• Valuation of trade-related property
• Tax and valuations
• Leasehold valuations and leverage
• Automated valuation methods
• Compulsory purchase and compensation

Global context:
The module compares and contrasts different approaches to appraisals in different national markets.

Brief description of teaching and learning methods:

Contact hours:
  Autumn Spring Summer
Lectures 20 2
Guided independent study 53 25
       
Total hours by term 73.00 27.00
       
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Written exam 100

Other information on summative assessment:

Formative assessment methods:

Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.

  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

  • The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
    You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

    Length of examination:
    One two-hour examination.

    Requirements for a pass:
    A mark of at least 40% overall.

    Reassessment arrangements:
    One two-hour paper to be taken August/September following Part 3 examinations.

    Additional Costs (specified where applicable):
    1) Required text books:
    2) Specialist equipment or materials:
    3) Specialist clothing, footwear or headgear:
    4) Printing and binding:
    5) Computers and devices with a particular specification:
    6) Travel, accommodation and subsistence:

    Last updated: 21 December 2016

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