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 and RE2VAL Property Valuation
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2020/1

Module Convenor: Prof Sarah Sayce

Email: s.l.sayce@reading.ac.uk

Type of module:

Summary module description:

This module builds on knowledge of both valuation and investment appraisal methods.  It will deepen critical understanding and knowledge of the roles and responsibilities of the valuer and how they apply these to residential and commercial property valuations. It will enhance knowledge of the application of valuation theory to current practice problems and challenges in residential and commercial property markets. It is taught by interactive taught sessions  and assessed by examination only. 



This module is delivered at the University of Reading and University of Reading Malaysia.

Aims:

This module aims to:  



• deepen the student’s critical understanding and knowledge of the roles and responsibilities of the valuer and how they apply these to residential and commercial property valuations for a range of purposes. 

• enhance the student’s knowledge of the application of valuation theory to current practice problems and challenges in residential and commercial property markets.

Assessable learning outcomes:

By the end of the module it is expected that students will have demonstrable knowledge and understanding of: 

• the application of valuation regulation and guidance to the promotion of standards to commercial and residential valuations undertaken for different purposes, using appropriate bases and methods of valuation;


• the application of statute, regulation, fiscal measures, case law and market context on the valuation of residential and com mercial properties including emerging investment asset classes;  and


• selected emerging and current practice issues in valuation theory and practice drawn from, e.g. application of  technologies on valuation;  long-term, contingent and eco-systems value; the impact of sustainability and climate change on market value and worth;

Additional outcomes:

The module also aims to encourage the development of written communication and independent study skills. Opportunity for discussion will be provided but is not part of the summative assessment.

Outline content:

By the end of the module it is expected that students will have demonstrable knowledge and understanding of: 

• the application of valuation regulation and guidance to the promotion of standards to commercial and residential valuations undertaken for different purposes, using appropriate bases and methods of valuation;


• the application of statute, regulation, fiscal measures, case law and market context on the valuation of residential and com mercial properties including emerging investment asset classes;  and


• selected emerging and current practice issues in valuation theory and practice drawn from, e.g. application of  technologies on valuation;  long-term, contingent and eco-systems value; the impact of sustainability and climate change on market value and worth;

Global context:

Some aspects of the content are global in nature e.g.:  Regulation and guidance; climate change; For other topics international references will be made as appropriate but the statutory context will primarily relate to UK law.  

 

 

Brief description of teaching and learning methods:

Lectures.

Contact hours:

	Autumn	Spring	Summer
Lectures		20	2
Tutorials		5	1
Guided independent study:
Wider reading (independent)		50
Exam revision/preparation			20
Revision and preparation			2
Total hours by term	0	75	25
Total hours for module	100

Summative Assessment Methods:

Method	Percentage
Written exam	100

Summative assessment- Examinations:

Two-hour examination

Summative assessment- Coursework and in-class tests:

Formative assessment methods:

Penalties for late submission:

The Module Convenor will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day[1] (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.

Assessment requirements for a pass:

A mark of at least 40% in the Examination.

Reassessment arrangements:

Reassessment will be by the same method as for the module’s original assessment requirements, subject to variation by the Examination Board where appropriate.

Additional Costs (specified where applicable):

Last updated: 27 August 2020