Knowledge of how property markets work and how properties are valued, managed and financed is critical for property professionals and for understanding modern life. Key terms and definitions surrounding the property profession and introductory analyses of supply and demand characteristics unique to property markets will be key learning outcomes. Students will also learn key concepts surrounding residential property valuation and construction.
As every property is unique, the valuation of property presents many challenges and has a strong influence on the financial viability of both existing buildings and the development process. General models for valuing commercial property, industrial property, and land will be introduced.
Effective marketing is at the core of successful property management, development and investment. Covers buyer behaviour, marketing research, segmentation and targeting, the marketing plan, the listing process and selling techniques all in the context of the property industry. Develops essential skills for independent thinking, strategic problem solving, effective teamwork and business report writing.
Achieving optimum performance from property assets is a multi-faceted process involving leases, financial structures, marketing, and occupier demand. Budgeting, operational expenditures, and capital expenditures will be introduced within the property context. An understanding of health and safety issues as well as leases will be provided.
Provides an understanding of the Resource Management Act and regional and district plans and how these affect land use and subdivision as well as resource consent applications and other property processes.
Financing represents a fundamental part of how properties are purchased, developed and managed. The application of general theories of property investment, discounted cash flow, risk and return, and financial mathematics is vital for property professionals. Debt and equity financing options are discussed for residential and income-producing property and development projects.
The supply and demand characteristics of urban developments have impacts on not only the price and availability of property, but on how we live and work. An understanding of development economics, urban policy, and land-use economics will provide students with knowledge of how the decisions of property professionals, policy makers, occupiers shape the built environment.
Fundamental legal principles and issues affecting the property professional will be considered including contract law, common form contracts found in the property industry (including leasing, transfer, and valuation) land ownership and professional liability.
Knowledge of construction is vital in understanding property valuation, property management and property development. Building materials, structural options, and building services have a strong influence on how a property performs both financially and functionally. Provides general residential and commercial construction knowledge and an understanding of the construction process.
The theory and practice of valuing special categories of and Economics 896 urban property. Topics include: valuation of CBD land and office buildings, shopping centres, hotels and leasehold land. Also covered are: statutory valuations (compulsory purchase), going-concern valuations, litigation, arbitration, and professional ethics and practice.
Property asset management theory through the study of its practical application in the strategic and estate management of property portfolios held in public and private ownership. The role of corporate real estate management in large organisations.
An introduction to the process of property development, including application of analytical methods to case studies.
An understanding of how to research, analyse and advise on property financing and investment decisions is an essential analytical skill for property professionals. Topics include: asset pricing models, capital structure decision, weighted average cost of capital and adjusted present value, property as an asset class, and financing and investment strategies.
An integrated team-based capstone experience based on a property simulation requiring students to demonstrate their ability to work collaboratively as they engage in strategic decision-making.
A challenging βreal worldβ property industry case project requiring demonstration of personal and professional skills as teams assess a situation, propose solutions and communicate recommendations.
A challenging property industry case project requiring the application of personal and professional skills in assessing a situation, proposing solutions and communicating recommendations.
A project-based internship with a property company or other appropriate organisation requiring written and oral reports of findings.
Builds the specific knowledge and skills required to work within the building surveying profession. Topics include building pathology and survey techniques, due diligence reporting, Schedules of Condition, maintenance and reinstatement obligations when leasing commercial property, terminal reinstatement assessments and reporting and law in relation to dilapidations.
A research project, feasibility study or structured internship on an approved topic.
Property development and investment practices have significant consequences for economic, social and environmental outcomes. Uses relevant literature to provide a critical analysis of contemporary dynamics and problems in international and national property markets.
History of land conflicts in New Zealand, Waitangi Tribunal process, and development of portfolio management strategies.
Develops capabilities in applying analytical tools and technologies to the analysis of issues to enhance understanding of property markets and support effective decision-making.
A review and critical analysis of literature in property valuation theory and practice. Critically evaluates issues relating to concepts, methods, standards and specialist valuation processes, and considers implications for future valuation practice.
A critical analysis of a practice situation or dilemma in an area of property practice of interest, based on a critique of property theory, literature and stakeholder engagement. Considers the impact and proposes recommendations to enhance future practice. and Economics 897
Focuses on the development of innovative solutions to address challenges facing property profession. Considers best practice in the use of property technologies.
Critical analysis of the economics and institutional factors that affect urban property markets. Considers the impact of cultural diversity, sustainability, and supply of money and land in residential and non-residential property development.
Focuses on advanced concepts of global markets, investment and finance and their application to inter- related property markets, as well as the advanced theories and practices in financial management. Critically evaluates financial management decisions and behaviour of participants within the property markets using case studies and financial software.
A seminar or individual study on a specialised aspect of property.
A dissertation on a topic in property approved by the Head of Department.
A dissertation on an approved topic in property.