PROP19004 - Rural Property Valuation
Term 1 - 2017


All details in this unit profile for PROP19004 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student). The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.

Overview

This unit develops skills in rural property valuation. It incorporates an understanding of the economics of rural land use and the extent to which land geography affects the valuation of rural properties. You will gain knowledge about valuation approaches to property used for the major rural land uses found in Australia.

Details

Career Level Undergraduate
Unit Level Level 2
Credit Points 6
Student Contribution Band 3A
Fraction of Full-Time Student Load 0.125

Pre-requisites or Co-requisites

PROP11001 Property Valuation

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Offerings

Term 1 - 2017
  • Distance

Website

This unit has a website, within the Moodle system, which is available two weeks before the start of term. It is important that you visit your Moodle site throughout the term. Go to Moodle

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Class Timetable

Assessment Overview

Assessment Task Weighting
1. Written Assessment 50%
2. Examination 50%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Procedures for more details of interim results and final grades.

All University policies are available on the IMPortal.

You may wish to view these policies:

  • Grades and Results Procedure
  • Assessment Policy and Procedure (Higher Education Coursework)
  • Review of Grade Procedure
  • Academic Misconduct Procedure
  • Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
  • Monitoring Academic Progress (MAP) Policy and Procedure – International Students
  • Refund and Excess Payments (Credit Balances) Policy and Procedure
  • Student Feedback – Compliments and Complaints Policy and Procedure
  • Acceptable Use of Information and Communications Technology Facilities and Devices Policy and Procedure

This list is not an exhaustive list of all University policies. The full list of University policies are available on the IMPortal.

Evaluation

Term 2 - 2011: The overall satisfaction for students in the last offering of this unit was 3.67 (on a 5 point Likert scale), based on a 66.67% response rate.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback Source Recommendation
The Study Guide was good and gave an insight into rural valuations. Student Evaluation Feedback. Continue with document with updates for relevant changes in industry.
Perhaps more assessments during the term would see more work done on a weekly basis on each of the topics. Student Evaluation Feedback. Look at voluntary quiz for each Module open for a period around intended study time.
On successful completion of this unit, you will be able to:
  1. Assess the physical aspects of rural property for their suitability for dominant Australian rural land uses.
  2. Conduct rural property valuations by applying appropriate valuation methods.
  3. Evaluate the factors that impact on the economic use of rural property and its value.
  4. Communicate effectively with diverse stakeholders engaged in rural land use and its valuation.

Rural valuation is a specialist area of property valuation is in high demand in Australia, but is not offered in all university property courses. Offering rural valuation is highly regarded by the Australian Property Institute and particularly suited to a large part of the student cohort due to the flex delivery of the CQUniversity course.

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4
1 - Written Assessment
2 - Examination    

Alignment of Graduate Attributes to Learning Outcomes

  • Introductory Level
  • Intermediate Level
  • Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4
1. Communication
2. Problem Solving  
3. Critical Thinking  
4. Information Literacy
5. Team Work      
6. Information Technology Competence
7. Cross Cultural Competence  
8. Ethical practice  

Alignment of Assessment Tasks to Graduate Attributes

  • Introductory Level
  • Intermediate Level
  • Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8
1 - Written Assessment
2 - Examination      

Prescribed Textbooks

Rural Valuation
Author/s: James Baxter Year: 2009
Edition: Publisher: API
City: Deakin State: ACT
Country: Australia
View textbooks at the CQUniversity Bookshop

IT Resources

You will need access to the following IT resources:
  • Limited access: Core Logic RPData sales system from Business Library Liaison
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • CF56/CG87/CG88 Property Program Gateway
All submissions for this unit must use the American Psychological Association (APA) referencing style (details can be obtained here), OR Harvard (author-date) referencing style (details can be obtained here). For further information, see the Assessment Tasks below.
Unit CoordinatorGarrick Small (g.small@cqu.edu.au)
Note: Check the Term-Specific section for any additional contact information provided by the teaching team
Week Begin Date Module/Topic Chapter Events and Submissions
Week 1 06-03-2017

Introduction to Rural Property

1

Week 2 13-03-2017

Land in the Rural Landscape

2

Week 3 20-03-2017

Sale Analysis and Valuation

ch.6 + ch.7 pp.335-344

Week 4 27-03-2017

The Pastoral & Dairy Industries

3

Week 5 03-04-2017

Broad Hectare Agriculture

3

Vacation Week 10-04-2017
Week 6 17-04-2017

The Sugar Industry

7

Week 7 24-04-2017

Small Cropping & Orchards

3

Week 8 01-05-2017

Other rural industries

7

Rural Valuation Assignment Due Friday (05 May 17) 11:45 PM AEST
Week 9 08-05-2017

Vegetation in the Rural
Landscape

2

Week 10 15-05-2017

Water in the Rural Landscape

2

Week 11 22-05-2017

Climate Change and Carbon Credits

5

Week 12 29-05-2017

GIS Applications for Rural Valuation

no set text

Review/Exam Week 05-06-2017
Exam Week 12-06-2017

This unit requires each student to make contact with, and arrange a visit to, a practising rural valuer to accompany them on a site inspection of a rural property suitable for the major assignment. A suitable block of time needs to be made available which may require organisation early in term to work in with work obligations. City students will find that suitable valuers and properties may be found within a two hour drive of capital cities, and early planning will help considerably with realising the logistical issues. This is an important component of the learning for the unit and should be given priority in planning for the term.

1 Written Assessment

Assessment Title Rural Valuation Assignment
Task Description

You are required to complete a long form Market Valuation Report of a rural property based upon either:

  1. A rural farming property of at least 250 hectares in size, or;
  2. A rural farming property of a smaller size where the land use on the property is sufficient to support at least the owner.

In addition to the property above, you will need to source a minimum of three comparable sales and speak to at least one practicing rural valuer with familiarity with the locality of the subject property. An appendix on the method employed and insights gained from the valuer will be included. The appendix should include reference to the appropriate valuation literature using standard referencing (author, date format).

A more complete description of the assignment may be found in the assignment page of the assessment panel of the course Moodle page.

Note: The use of templates/industry reports is encouraged with due acknowledgement.

Assessment Due Date Week 8 Friday (05-May-2017) 11:45 PM AEST
Return Date to Students Week 10 Friday (19-May-2017)
Weighting 50%
Assessment Criteria

Your report will be graded according to its overall quality on the following criteria:

  • presentation, structure, grammar, style, clarity of expression and brevity
  • quality of property description
  • Local and national economic outlook
  • Valuation approach
  • Persuasiveness of valuation conclusions
  • Appraisal of method
  • Insights gained from supervising valuer
  • originality and insight

Standards required for the various grades of pass use the university grades and results standards (available from the Property Gateway). These are outlined in detail within the assignment outline found in the Moodle course page within the assessment block.

Referencing Style American Psychological Association (APA) or Harvard (author-date)
Submission Online

All submissions to be in formats that can be opened by Microsoft Word (e.g. '.doc' format). Pdf format should not be used. Maximum file size is 9MB.

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. Assess the physical aspects of rural property for their suitability for dominant Australian rural land uses.

2. Conduct rural property valuations by applying appropriate valuation methods.

3. Evaluate the factors that impact on the economic use of rural property and its value.

4. Communicate effectively with diverse stakeholders engaged in rural land use and its valuation.

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Communication

2. Problem Solving

3. Critical Thinking

4. Information Literacy

5. Team Work

6. Information Technology Competence

7. Cross Cultural Competence

8. Ethical practice



Examination

Outline Complete an examination
Date During the University examination period
Weighting 50%
Length 180 minutes
Details Dictionary - non-electronic, concise, direct translation only (dictionary must not contain any notes or comments).
Calculator - non-programmable, no text retrieval, silent only.
Closed Book
Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. Assess the physical aspects of rural property for their suitability for dominant Australian rural land uses.

3. Evaluate the factors that impact on the economic use of rural property and its value.

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Communication

2. Problem Solving

3. Critical Thinking

7. Cross Cultural Competence

8. Ethical practice


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