Overview of the legal system in Australia:

• The concept of property and ownership in Australia
• Comparative land policy
• The general law and the Torrens land registration systems
• The legal nature of land: improvements, fixtures and chattels
• Encumbrances: easements, restrictive covenants, right
• Co-ownership: subdivision, joint tenancy in common
• Licenses and leases
• Contract, tort and agency
• Occupier's liability
• Impact of heritage legislation

This subject aims to give students the knowledge and skills to be able to operate as a property professional in the area of development advice and decision making in property development. It comprises:

• the development process and the major players;
• time value of money;
• the decision to build;
• property market research and analysis;
• appreciation of investment and market valuation methods;
• development appraisal including residual analysis and cash flow modelling;
• price and worth; risk, return and risk analysis.

This Masters level subject is designed to introduce the fundamental concepts required for understanding how property markets function and/or operate, as well as the basic valuation techniques required for determining the value of real property.

It serves both the new 300 point Master of Property and the Graduate Diploma of Property Valuation, which are courses taught within the Melbourne School of Design.

This is a foundation subject and is meant for students who are relatively new to the property education. The emphasis of this subject is to introduce students to the main systems and relationships which govern the operation of property markets, with particular reference to the valuation of commercial property in Australia.

The subject examines market analysis and valuation techniques as they apply to real property. The main areas to be covered include:

• To set property within an economic context
• To examine property as a set of linked markets, functionally divided between use, investment and development
• To critically evaluate the role that regulations and planning play in the property markets
• Typical valuation processes focussing on direct comparison, direct capitalization method, discounted cash flow method and residual method.

This subject explores planning and policy making for productive and competitive urban settlements by investigating the economic drivers, activities, and interrelationships of cities and regions. You will examine how making and moving of goods, services, and jobs shapes the vitality, structure and governance of cities and regions. Complex planning issues, requiring judgements about the competing demands of economic development and social needs, are associated with the growth and decline of sectors and places in their particular urban contexts. Various economic perspectives and examples are used to show and interpret how urban activities and sectors – such as manufacturing, transport, services, recreation, and creative activities – have locational and network impacts within and between cities. Special attention will be paid to comparative analysis and innovation in developing cities and regions, and to the implications of market failures and inequalities produced by economic development activities.

Valuation for statutory purposes including rating. Examination of all taxes affecting property, including land tax. Compulsory acquisition and compensation.

This subject builds on property fundamentals and focuses on research in the real estate market. The subject aims to give you a range of applied skills in advanced property analysis, such as:

• Contemporary consideration in valuation of specialist properties (e.g. rural properties, shopping centres, retirement homes, leisure centres, resorts, easements, etc);
• Advanced financial analysis;
• Composition and functioning of the property lending market;
• Property lenders and lending products;
• The determination (and assessment of major determinants) of lending interest rate;
• Contemporary risk issues;
• Measurement of returns.

The subject provides a broad overview of a range of topics relevant to the Australian construction industry, including the regulatory framework, construction materials and technology, construction documentation, geotechnical engineering, building structures, construction management and economics, and building inspections and faults. Building mechanical, electrical, hydraulic, fire, transportation and communication services and controls are also covered. The subject addresses issues in the context of residential, commercial and industrial buildings, and includes site visits.

The intention of this subject is to provide a broad introduction to the industry, with construction systems base, including an introduction to planning and scheduling, soil conditions, cost estimating and project management. The subject is intended for students entering the Master of Property program with no, or at least a very limited, construction background. This subject is not available to any students who have already completed 25 points of construction technology based or equivalent studies.

This subject aims to provide a range of applied skills to operate as a property professional in the area of property valuation and management. The subject examines:

• ownership and use perspectives as they apply to investment, valuation and management of real property as a business;
• property classes, market sectors and specialised properties;
• managing the physical asset in the various ownership and use scenarios, including legal, OHS, risk management, environmental and market demands;
• lease income and management.

The application of quantitative methods in analysis will be emphasised. These will include: discounted cashflow analysis, real estate finance and financial analysis, post taxation analysis and securitisation.