## VALUATION OF PROPERTY 2

 SHE Level 2 SCQF Credit Points 20.00 ECTS Credit Points 10.00 Module Code M2K221886 Module Leader Malawi Ngwira School School of Computing, Engineering and Built Environment Subject Construction and Surveying Trimester A (September start)-B (January start)

### Pre-Requisite Knowledge

M1K222027 Valuation of Property 1

### Summary of Content

The practical application of valuation methods.

### Syllabus

Review of the mathematics of valuation covered in Vof P 1 Detailed application of the investment method of valuation to value perpetual, varying and terminable incomes using the term and reversion method, hardcore or layer method and the equivalent yield method. Rating theory and practice Rent review valuations Surrender and renewal valuations Building surveys Professional liability and practice

### Learning Outcomes

On successful completion of this module the student should be able to: - Undertake building surveys for Property Inspection packs- Apply investment methods of valuation for feuhold and leasehold interests- Rating valuations- Rent review valuations and forms- Surrender and renewal valuations

### Teaching / Learning Strategy

Lectures will provide the basic theoretical concepts which are complemented by tutorials and group activities. Learning and teaching strategies will be developed and implemented appropriate to students' needs, to enable all students to participate fully in the module.

Recommended Reading -360 1. Armatys J, Askham P & Green M, (2009), Principles of Valuation, Estates Gazette 2. Douglas Scarrett and Sylvia Osborn (3 rd Edition) Property Valuation: The Five Methods, Routledge -360 3. Baum, A (2006) The Income Approach to Property Valuation, Estates Gazette 4. Blackledge, M (2009) Introducing Property Valuation, 5. Davidson (13 th edition) Parry's Valuation and Investment tables, Estates gazette 6. Bond, P and P.K. (3 rd edition) Rating Valuation: Principles and Practice, 7. RICS Appraisal and Valuation Manual, RICS books 8. RICS Valuation Standards, RICS 9. Shapiro, Mackmin, and Sams (11 th edn), Modern Methods of Valuation, Taylor and Francis -360 10. Wyatt, P (2007) Property Valuation in an economic context, Blackwell Publishing Essential Reading -360 1. A Adair, S McGral & G Vos (1996), European Valuation Practice , Taylor and Francis -360 2. Butler, D. (2 nd Edition), Applied Valuation, Palgrave Macmillan 3. Cherry (2010), A Valuer's Guide to the RICS Red Book, RICS -360 4. David Isaac (2013), Property Valuation Principles, Palgrave Macmillan 5. David Isaac and John O'Leary (2013), Property Valuation Techniques, Palgrave Macmillan -360 6. Fraser, W.D. (1993) Principles of Property Investment and Pricing -360 7. Hayward , R. (2008) Valuation: Principles into Practice, Butterworth Heinemann -360 8. International Valuation Standards Committee (IVSC), (2011) International Valuation Standards 2011 -360 9. Isaac and Steeley (2000), Property Valuation Techniques, Palgrave Macmillan 10. Marshall (1996) Law and Valuation of Leisure Property, Esttaes Gazette 11. Milllington, A. F. (5 th edition) introduction to property Valuation Estate Gazette -360 12. Ollie Saunders ( 2nd Edition), Valuation Calculations: 101 Worked Examples, RICS 13. Paul Ben-Nathan, Spreadsheets for Valuations - 50 Worked Examples Using Microsoft Excel 2010, RICS -360 14. Plimmer, F, Rating Law and Valuation, Addison Wesley and Longman 15. RICS, Comparable Evidence in property valuation: Information Paper, RICS 16. Richmond, D (3rd edn) Introduction to Valuation, Palgrave MacMillan 17. Scarrett D (2 nd edition) property Valuation : The 5 Methods, Spon 18. Spon, RICS Appraisal and Valuation Manual, RICS books -360 19. Wyatt, P (2013) Property Valuation, Wiley

### Transferrable Skills

Analytical and appraisal skills (D1) Team working skills (D12) Problem solving skills (D1) Presentation skills (D9)

### Module Structure

Activity Total Hours
Lectures (FT) 24.00
Tutorials (FT) 48.00
Independent Learning (FT) 110.00
Assessment (FT) 18.00

### Assessment Methods

Component Duration Weighting Threshold Description
Coursework 1 n/a 30.00 35% Coursework will cover valuation methods.
Exam (Exams Office) 2.00 70.00 35% Formal Exam (2 hours)Exam will cover entire syllabus, with a compulsory section on the Single Survey.