Module title: Valuation 3

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

Module code: BSV10109
Module leader: Alison Andrews
School School of Engineering and the Built Environment
Subject area group: Building and Surveying
Prerequisites


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:
Students will be encouraged to develop a critical understanding of property valuation. They will undertake exercises that expose the limitations and shortcomings of traditional and contemporary valuation models and both the methodological and technical issues which need to be overcome for the property market to be efficient. In reviewing the research that has been undertaken to overcome such shortcomings, the module will examine contemporary property pricing models, risk, return and diversification and emerging property valuation issues, such as sustainability in valuation, valuation of newly developing sectors such as Built to Rent and the private residential rental sector. Student led seminars will explore key issues in the module.
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 the limitations of conventional valuation and the role of contemporary pricing models required by the students to demonstrate such competency. These are fundamental skills required by employers in the management of commercial property.
Research/ teaching linkages
Close links are maintained with the Royal Institution of Chartered Surveyors and industry. This includes reference to research papers and guest lecturing from practitioners.

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 module is assessed by a timetabled exam at the end of the module and this will assess all learning outcomes (LOs 1-6)

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 22
Face To Face Tutorial 22
Independent Learning Guided independent study 156
Total Study Hours200
Expected Total Study Hours for Module200


Assessment
Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Centrally Time Tabled Examination 100 1-6 14/15 HOURS= 3, WORDS= 0
Component 1 subtotal: 0
Component 2 subtotal: 100
Module subtotal: 100

Description of module content:

Current property valuation issues; traditional valuation models; critique of traditional methodology; valuations and pricing; valuation accuracy; property performance indices; efficient property market theory; contemporary property pricing models; risk, return and diversification; emerging property valuation issues.

Learning Outcomes for module:

On completion of this module you will be able to:
LO1: critically review current property valuation issues and apply insight into the limitations and shortcomings of traditional property valuation methods;
LO2. compare and contrast the relationship between valuations and prices;
LO3. Compare property indices available to measure the performance of commercial and residential property;
LO4. Critically reflect on property market efficiency;
LO5. apply contemporary pricing models to measure the performance of investments;
LO6: Explore the challenge of contemporary issues in the valuation of property.

Indicative References and Reading List - URL:
Valuation 3