Core Module Information
Module title: Real Estate Surveying 2 (GA)

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

Module code: BSV08411
Module leader: Alison Andrews
School School of Engineering and the Built Environment
Subject area group: Building and Surveying
Prerequisites

N/A

Description of module content:

The module will introduce the principles of property investment, the qualities and risk of property as an investment and the technical analysis of investment returns. You will be introduced to contemporary models of property valuation of rental growth explicit discounted cash flows and demonstrate the application of these methods in a range of contexts.
You will learn to apply specialist and applied valuations, for example: Surrenders and Renewals, Premiums, Marriage Value and the Statutory Valuation of Specialist Properties. You will also develop an awareness of the differing bases of valuation and the regulatory framework for valuations

Learning Outcomes for module:

LO1: apply a critical understanding to the qualities of property as an investment;
LO2: comprehend, evaluate and apply contemporary (growth explicit) models of property valuation;
LO3: apply investment techniques to analyse the return from property;
LO4: appreciate and identify circumstances rendering a valuation a ‘statutory’ or ‘specialist’ valuation;
LO5: determine and use relevant valuation methods to be used in specialist and statutory valuations;
LO6: demonstrate knowledge of the different bases of valuation and the ‘Red Book’ requirements for valuations

Full Details of Teaching and Assessment
2020/1, Trimester 3, FACE-TO-FACE,
VIEW FULL DETAILS
Occurrence: 001
Primary mode of delivery: FACE-TO-FACE
Location of delivery: MERCHISTON
Partner:
Member of staff responsible for delivering module: Alison Andrews
Module Organiser:


Learning, Teaching and Assessment (LTA) Approach:
This shall comprise a lecture of up to 2 hours with a linked 1-hour tutorial / seminar held twice per day over a consecutive five day period. The face-to-face teaching delivered in the block teaching week shall be supported by independent guided study and underpinned with work-based learning and completing the assessments specified for the module (Weeks 3-15).

You will be encouraged to develop a critical understanding of property as an asset class. The returns available from property investments will be examined and the methodology for assessing these returns. The contemporary growth explicit model of valuation will be evaluated and you will obtain a comprehensive knowledge of the methods available including long and short form discounted cash flow.

You will be encouraged to develop a critical understanding of specialist property valuation techniques and a technical knowledge of their application. Alongside specialist properties, there are applied valuation techniques. You should also have knowledge of the differing principles underlying statutory valuations in relation to compulsory purchase and compensation and to rating (commercial properties). You will also examine further the regulatory requirements of the RICS and the different bases of valuation.

The tutorials will be used to expand upon the lecture material and to undertake valuations using the appropriate methods.


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 tutorial 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.

Summative Assessment:
The coursework is a portfolio of assessment tasks and is designed to evaluate (part 1 - the student's understanding of property investment, the application of contemporary appraisal technique applicable to property valuation and the regulatory framework for such valuations: the outcome will be a professional valuation report and analysis and part 2 - a task designed to demonstrate knowledge of the differing bases of valuation, the requirements for statutory valuations and their application: the outcome will be a report and applied valuations. The coursework task will let the student demonstrate their knowledge of Learning Outcomes 1-6.

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 24
Face To Face Tutorial 12
Other Work based learning 66
Independent Learning Guided independent study 98
Total Study Hours200
Expected Total Study Hours for Module200


Assessment
Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Report 100 1-6 12 HOURS= 00.00, WORDS= 3000
Component 1 subtotal: 100
Component 2 subtotal: 0
Module subtotal: 100

Indicative References and Reading List - URL:
Real Estate Surveying 2