Course Title: Valuation of Rural Property
Part A: Course Overview
Course Title: Valuation of Rural Property
Credit Points: 12
325H Property, Construction & Project Management
|Sem 2 2008,
Sem 2 2009,
Sem 2 2010,
Sem 2 2012,
Sem 2 2013,
Sem 2 2014,
Sem 2 2015,
Sem 2 2016,
Sem 2 2017,
Sem 2 2018,
Sem 1 2019,
Sem 2 2019,
Sem 1 2020,
Sem 2 2020
Course Coordinator: Judith Callanan
Course Coordinator Phone: +61 3 9925 2644
Course Coordinator Email: firstname.lastname@example.org
Course Coordinator Location: 8.8.8
Course Coordinator Availability: by appointment
Pre-requisite Courses and Assumed Knowledge and Capabilities
You should have satisfactorily completed the prerequisite courses
Enforced Prerequisite 011270 Valuation Techniques & Property Analysis
before you commence this course.
The course will develop the skills and knowledge required to value rural land. The course focuses on the factors that create value and influence change in the use of rural land. You will examine the impact of economic indicators, environmental influences and market trends on the value of rural asset classes.
You will develop your knowledge of the physical aspects of rural land and your ability to professionally communicate and make recommendations for the highest and best use of rural land.. This course builds on your knowledge of valuation theory and practice to determine the value of a rural asset class. You will critically examine how a range of economic, and environmental factors impact on the value of rural land. You will develop your knowledge of a broad range of current rural issues and trends in farming and the implications of these for the property industry. Topics covered in this course include :infrastructure, water availability/rights, farm management, and sustainable practice.
This course includes a field trip that involves onsite activities, presentations from local farmers and professionals. These site visits will provide you with to learn first hand from farmers and rural professionals about the nature and opportunities and challenges within a rural property context. Please note that course enrolment fees do not include field trip costs. Refer to the Course Coordinator and Part B course guide for the itinerary; travel and accommodation costs; tour costs and deadlines.
The field trip is usually conducted mid semester.
Objectives/Learning Outcomes/Capability Development
Program Learning Outcomes (PLOs)
- PLO1: Determine and apply advanced knowledge of complex property theory to inform decision making in the local and global professional arena, demonstrating expert judgement and ethical decision making in your professional practice and discipline
- PLO2: Integrate and apply the specialist knowledge and technical skills required to address industry problems and/or commercial opportunities in property
- PLO3:Research and analyse theoretical knowledge and published data to address the diverse requirements of property stakeholders, formulating strategic business solutions for complex property project
- PLO4: Professionally communicate property strategy, processes, propositions and/or decision making across the property and related sectors, leading and negotiating effectively with diverse stakeholders
Course Learning Outcomes (CLOs)
Upon successful completion of this course, you will be able to:
- CLO1: Identify and analyse current social, economic and political issues that affect Rural Communities and the Valuation of Rural Land
- CLO2: Identify how both local and global economic drivers impact on rural property markets.
- CLO3: Research, analyse and synthesise secondary data to produce a valuation report.
- CLO4: Professionally communicate and justify valuation decision making to diverse stakeholders
Overview of Learning Activities
Your learning in this course will be developed through tutorials/workshops. Learning activities will include group work, group exercises, class discussions, debates, field trips and individual investigation.
Overview of Learning Resources
RMIT will provide you with resources and tools for learning in this course through our online systems.
A range of learning resources are provided for this course including a text book, media articles, valuation reports, legislation .
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.
Task 1: Individual: The first task requires students to research and critically analyse factors and legislation that are unique to the valuation of rural property 50% CLO1, CLO2,
Task 2: Individual: A full rural valuation report is produced based on site visit in regional Victoria 50% CLO1, CLO2, CLO3, CLO4
Feedback will be given on all assessment tasks.
Equitable Learning Services
Equitable Learning Services (ELS) provide support and equal opportunities for students with a disability, long-term illness and/or mental health condition and primary carers of individuals with a disability. You can contact the ELS if you would like to find out more: https://www.rmit.edu.au/students/support-and-facilities/student-support/equitable-learning-services. You can also contact the course coordinator or the program coordinator if you would like to find out more.
An assessment charter (http://mams.rmit.edu.au/kh6a3ly2wi2h1.pdf) summarises your responsibilities as an RMIT student as well as those of your teaching staff.
Your course assessment conforms to RMIT assessment principles, regulations, policies and procedures which are described and referenced in a single document: http://www.rmit.edu.au/browse;ID=ln1kd66y87rc.