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REST0005 Property Valuation
T2 2024 Group Valuation Report Brief
Submission due date: 26 July 2024 (5:00 p.m.) Weight: 30 Marks
You are required to form a group of 5 students and select a residential (standalone) property in an area of your choice within Sydney that is to be auctioned between 27th and 29th July 2024. Note that Strata Title density dwellings such as units, townhouses and villas are not to be included. Also, no two groups should value the same property.
Value the chosen property by adopting the Investment, Comparison and Cost property valuation methods and prepare a valuation report. The basis of valuation is Market Value, and the purpose is for Buying/Selling. Your report should include commentary as to any variations produced from the three valuation methods. Also, you need to provide a convincing justification to identify the most appropriate method out of the three valuation methods to value the subject property. The report should contain two parts as shown in the table below.
|
Parts |
Component |
|
Part 1 |
The team reconciliation of all the individual analyses of the valuation figures to present the estimated valuation figures (main valuation report) |
|
Part 2 |
Individual student’s technical analysis of the valuation (the three valuation methods) calculations (included as appendices). |
The detailed valuation report to be submitted should contain the following:
A clear description of the subject property should be provided in addition to a commentary on the local property market conditions.
The valuation report is to be typed and be of a professional standard. The property valuation report is to be a full speaking valuation report complying with the Australian Property Institute Standards for Reporting as per Australia & New Zealand
Valuation & Property Standards and Reports, Content & Compilation BF2 (both are provided on Moodle).
The valuation report will be assessed based on the presentation, the valuation rationale, clear and compelling justifications, appropriate assumptions and analysis.
The methods of valuation are to be demonstrated through comparable sales schedules, reasoning, analysis and workings.
Note:
The valuation report will include two parts:
Part 1 will be a group valuation report with your group’s valuation figure (arrived at using the three valuation methods).
Part 2 will include each group member’s application (calculations only) of those three valuation methods to the valuation of the chosen property. Those should be added as appendices, and they will be assessed individually (10 marks).
You must include the evidence that the subject property was to be sold at an auction (during the stated period) in your report. For instance, the screenshot of the advert.
You can assume that your client is Dr Rotimi Abidoye.
You can adopt any referencing style you prefer, but you must be consistent.
The valuation report’s word limit could vary depending on your chosen property.
The 26 July is NOT a due date, it is the final day the assignment must be submitted. The report may be submitted at any time before this date.
You are strongly advised to commence this assignment as soon as possible and work towards an early submission to allow for unforeseen circumstances.
The group valuation report will be presented orally in Week 10. Each group will submit a recorded oral presentation made by all the group members, and this must be submitted through the appropriate channel in Week 9 (26/07/2024). More details will be provided during the term.
The oral presentation will account for 10 marks, while the group valuation report will account for 20 marks. Individual marks may be adjusted (for the group presentation and group report) based on the review of each team member's contribution.
Assessment Criteria
|
Criteria |
Value |
|
Team name and members. Brief professional biography and industry experience. |
N/A |
|
Presentation and Style Sufficient valuation summary, conclusions, appendices and effective communication. |
10% |
|
The professionalism of the Report Valuation report style inclusive of appropriate headings, references, description, workings layout, logical flow and ease of use. |
10% |
|
Property Details Appropriate description of the building site and improvements. |
10% |
|
Market Commentary/Analysis Analysis of key market components of rents, incentives, vacancies, yields, IRRs, capital values, sales analysis and other inputs used in the methods of valuation. |
10% |
|
Investment Approach Analysis Demonstration of key inputs, validation of same, appropriate calculations and reconciliation with other methods. |
20% |
|
Direct Comparison Approach Analysis Demonstration of key inputs, validation of same, appropriate calculations and reconciliation with other methods. |
20% |
|
Cost Approach Analysis Demonstration of key inputs, validation of same, appropriate calculations and reconciliation with other methods. |
20% |
|
Group Work Logbook A logbook of group meetings, including the roles of each group member and minutes of the meetings. |
Minus 10% |
|
Total Marks |
100% |