Course Title: Valuation Process and Methods

Part A: Course Overview

Course Title: Valuation Process and Methods

Credit Points: 12


Course Code




Learning Mode

Teaching Period(s)


City Campus


325H Property, Construction & Project Management


Sem 2 2011,
Sem 2 2012,
Sem 2 2013,
Sem 2 2014,
Sem 2 2015,
Sem 2 2016,
Sem 2 2017,
Sem 1 2018,
Sem 2 2018

Course Coordinator: Dr Dulani Halvitigala

Course Coordinator Phone: +61 3 9925 2722

Course Coordinator Email:

Course Coordinator Location: 8.8.70

Course Coordinator Availability: by appointment

Pre-requisite Courses and Assumed Knowledge and Capabilities

From 1 January 2016

Enforced Prerequisite: OMGT2214 Valuation & Property Principles

Prior to 2016 You should have satisfactorily completed the prerequisite course OMGT2214 Valuation & Property Principles before you commence this course.

Course Description

This course will introduce you to valuation processes used to determine the value of a range of properties across the property sectors.  The course will focus on property valuation theory, tools, and applications.

Topics covered include:

  • Land valuation methods
  • Cost estimating for valuers
  • Sales (direct) comparison method
  • Income and expense analysis
  • Direct and yield analysis

Your learning in this course will build upon the knowledge and skills you have acquired from the course Valuation & Property Principles.

Objectives/Learning Outcomes/Capability Development

This course will develop the following program learning outcomes:

1 Determine and apply knowledge of complex property and valuation theory to your professional practice and/or further study
2 Professionally communicate to a range of audiences, demonstrating in depth knowledge of the discipline and of the needs of diverse property and valuation stakeholders
3 Apply logical, critical and creative thinking to analyse, synthesise and apply theoretical knowledge, and technical skills, to formulate evidenced based solutions to industry problems or issues
4 Utilise appropriate methods and techniques to design and /or execute research based or professionally focused property or valuation projects, demonstrating capacity for independent and collaborative learning, addressing real world industry issues
5 Collaborate effectively with others and demonstrate intellectual independence and autonomy to solve problems and/or address industry issues and imperatives




Upon successful completion of this course you will be able to:

  • Describe the principles of market analysis
  • Define the principles of property transaction used to estimate property value
  • Apply principles of market analysis to undertake property and land valuations respsonisve to the needs of diverse stakeholder requirements
  • Apply income valuation mathematics to estimate current property market value
  • Undertake and communicate market and data research and analysis to value property

Overview of Learning Activities

Key concepts and applications will be covered in lectures and workshop/tutorials.    Your understanding of valuation mathematics will be further developed through class activities and individual and group assessment which will include a focus on arithmetic skills required to work within the property valuation sector.

Overview of Learning Resources

 RMIT will provide you with resources and tools for learning in this course through our online systems.A set text book is required for this course

Overview of Assessment

You will be assessed on how well you meet the course’s learning outcomes and on your development against the program learning outcomes.

The assessment tasks may include, but are not limited to, short essays, reports, individual and/or group assignments, class tests and exam.

Feedback will be given on all assessment tasks.

If you have a long term medical condition and/or disability it may be possible to negotiate to vary aspects of the learning or assessment methods. You can contact the program coordinator or the Disability Liaison Unit if you would like to find out more.
A student charter summarises your responsibilities as an RMIT student as well as those of your teachers.

Your course assessment conforms to RMIT assessment principles, regulations, policies, procedures and instructions which are available for review online: