Module title: Valuation 1

SCQF level: 08:
SCQF credit value: 20.00
ECTS credit value: 10

Module code: BSV08102
Module leader: Alison Andrews
School School of Engineering and the Built Environment
Subject area group: Building and Surveying
Prerequisites

There are no pre-requisites for this module to be added

2018/9, Trimester 2, Face-to-Face, Edinburgh Napier University
Occurrence: 001
Primary mode of delivery: Face-to-Face
Location of delivery: MERCHISTON
Partner: Edinburgh Napier University
Member of staff responsible for delivering module: Alison Andrews
Module Organiser:


Learning, Teaching and Assessment (LTA) Approach:
The module is taught thematically with each lecture providing an opportunity for the students to learn about key issues underlying the valuation of heritable property. The lectures begin by setting out the factors affecting supply and demand, the concept of value, the role of the valuer and the characteristics and the role of property in the market. With this understanding in place the five methods of valuation are examined. The tutorials expand on the lecture material and provide opportunities to undertake valuations using the methods studied.

Embedding of employability/ PDP/ scholarship skills
The module shall assess the standards of communication, creativity and problem solving skills needed to answer such questions relating to conventional property and the preparation of descriptive reports on properties.

Supporting Equality and Diversity
Learning material provided over Moodle include: reading lists, lecture notes and supporting market reports.

Formative Assessment:
The provision of formative feedback is a key component of the LTA approach underpinning this module. Formative feedback opportunities are built into each practical session where you will be encouraged to engage with and reflect upon module themes via a series of different learning tasks. These provide opportunities for the module tutor to help with your understanding and interpretation of module topics. This formative feedback is delivered in class time in response to student contributions both individually and collectively. Formative feedback arises via the discussion and analysis of tutorial questions, practical examples/cases and associated reflection on a range of learning tasks. The assessment is supported in the tutorial classes.

Summative Assessment:
The coursework assessment comprises the creation and submission by each student of a portfolio made up of three parts (part 1: a valuation of a house using comparisons, part 2: an exercise in the use of valuation formulae and the investment method of valuation and part 3: a report on a commercial property or commercial property valuation method.
A formal exam at the end of the trimesters assesses learning outcomes 1-5.

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 22
Face To Face Tutorial 11
Independent Learning Guided independent study 167
Total Study Hours200
Expected Total Study Hours for Module200


Assessment
Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Practical Skills Assessment 40 1,2,4,5 6 HOURS= 0, WORDS= 1500
Centrally Time Tabled Examination 60 1-5 14/15 HOURS= 2, WORDS= 0
Component 1 subtotal: 40
Component 2 subtotal: 60
Module subtotal: 100

Description of module content:

The module will introduce the principal methods of property valuation in residential and commercial property markets and demonstrate the application of these methods in a range of contexts. The concept of supply and demand; the use of valuation formulae and valuation tables; the theory and practice of the ‘five methods’ of valuation; and the investment method of valuing freehold and elementary leasehold interests in property. Study the investment characteristics, the role of property as an investment and its place in the market, the pattern of yields from property. To analyse property market information and the adjustment and use of rental and yield information in the undertaking conventional valuations. You will be aware of the regulatory framework under which valuations are carried out.

Learning Outcomes for module:

On completion of this module you will be able to:
LO1: identify the underlying factors affecting the property market;
LO2: apply conventional freehold investment and comparison valuation methods;
LO3: understand and apply the contractors, residual and profit methods of valuation;
LO4: apply conventional leasehold valuation methods;
LO5: use rental and property yield information.

Indicative References and Reading List - URL:
Valuation 1