Assessment Information
MMP713: Property and Real Estate Context
Assessment 2: Valuation of a Dwelling
This document supplies detailed information on assessment tasks for this unit.
Key information
• Due: 4pm Thursday 9th May 2019.
• Weighting: 25% of total mark for this unit.
• Word count: Maximum 2,500 words (excluding appendices).
This is an individual assignment and it is important to read the instructions carefully.
Learning Outcomes
This assessment assesses the following Unit Learning Outcomes (ULO) and related Graduate Learning
Outcomes (GLO):
Unit Learning Outcome (ULO) Graduate Learning Outcome (GLO)
ULO 1: Become familiar with the basic concepts,
valuation methods and nuanced language of
property
GLO 1: Discipline specific knowledge
ULO 2: Critically analyse markets, growth in the
markets and factors affecting the property prices
GLO 4: Critical thinking
ULO 3: Estimate a property price using a
comparison sales approach
GLO 5: Problem solving
Purpose
This assessment task has been designed for you to undertake a financial analysis of your own selected
house/unit/apartment. You must apply a ‘comparative sales’ valuation approach to determine the
appropriate value for the property. By completing this task you will familiarise yourself with residential
market in the vicinity of where you live, or that is of interest to you.
Instructions
In this assessment task, you will demonstrate your ability to value a property, based on your knowledge of
the residential market within a particular area, and to determine a suitable property sale price. There are
three broad categories of basic information required to complete this task:
a) The ‘subject’ property
b) The recently sold comparable properties, and
c) The comparison of the subject property to comparable local properties.
In this task, you need to gather relevant information from each of these categories as outlined
below.
Task A: Subject property – 5 marks
Identify and describe the subject property.
Describe the subject property (internally and externally). You may refer to the API guidance notes (API
Guidance Note ANZVGN 1) to help you with your description. Refer to page 2, Section 4.0 Report Content, for
more detailed guidance on what to include in this section of the report.
Assessment Information
Task B: Recently sold comparable properties – 12 marks
Identify three residences (houses/units/apartments) that are similar to your selected property that were sold
within the last 12 months within the local market place (you must be able to verify the sale date). Please
note: for your ‘comparables’, choose those properties which are as similar to your subject property as
possible. Report on the following:
• Consider how much they sold for and how much they would rent for.
• Describe the process you undertook for finding and selecting each of the three properties and
explain how the three properties are comparable with your own residence.
• Provide a detailed description of each property including the land, the building and any other
improvements.
• Include both street and aerial view photos of each property and location maps. The street view could
be photos you took yourself, and the aerial view can be taken from the internet, as can the map of
the location. The photos and map should be placed in the appendices.
• In the description, include any observations you make based on the photos about the physical
location and condition of the subject property. What additional information is captured by each of
these photos? Highlight any differences between the photos and your observations from the
physical inspection.
• Note additional relevant information/factors, such as zoning/restrictions on the property that would
affect an investment decision, and why this information is significant in terms of determining a sale
price.
Task C: Property comparisons – 8 marks
Compare each of the three sale properties to your own selected residence. Discuss whether the:
• land for each sale is inferior, similar or superior in comparison to the subject property and explain
why.
• components (bedrooms, bathrooms, car parks etc.) for each sale are inferior, similar or superior in
comparison to the subject property.
• any other factors for each sale that might influence the value of the property, rendering the property
inferior, similar or superior in comparison to the subject property.
• compare sale prices and rents *
o * Before completing these tasks, consider if your selected property would be better to value
as a long-term, or, as a short-term rental property. For example, if your property is close to
a busy (noisy) sports-stadium, you may find that short-term stay (for visiting sport fans) is a
better option than a long-term rental option (due to the constant noise and traffic for
permanent residents.) Give reasons to explain why you have chosen your long or short term
rental option.
• Provide a valuation and sale price for your subject property.
• Justify the valuation and sale price.
TOTAL XXXXXXXXXX = 25 marks
Structure
Use headings based on the three (3) component tasks. You are to use the API Guidance Note ANZVGN 1 (see
section 8.1) of the API guidance notes to help with your report. You are required to present this assessment
in a professional manner and include:
• Executive Summary
• Table of Contents
• Introduction
• Analysis
• Conclusion
Assessment Information
• Reference List
• Appendices, correctly labelled.
For further detailed support on how to present a report access the Academic skills report writing page.
Submission details
Your assessment is to be submitted via the FutureLearn submission link published in Course 3 Week 1.
Please upload one document only. Name your file with the following information:
Unit Code_Year_Trimester_Assessment Number_Your Name_Student ID
Eg. MMP713_2018-T2_Assign2_StudentMary_ XXXXXXXXXXdoc
Extension requests
Requests for extensions should be made to Bill Dimovski by emailing XXXXXXXXXX at least 72
hours prior to the assessment due date. Please follow the link for detailed information prior to emailing.
Special consideration
You may be eligible for special consideration if circumstances beyond your control prevent you from
undertaking or completing an assessment task at the scheduled time.
See the following link for advice on the application process:
http://www.deakin.edu.au/students/studying/assessment-and-results/special-consideration
Assessment feedback
You will receive your marks and feedback within 10 business days of the due date provided you have submitted
your assessment task by the due date.
Referencing
You must correctly use Harvard referencing in this assessment for all assumptions, references and sources. For
support on how to reference using this style, refer to the Deakin referencing guide.
Academic integrity, plagiarism and collusion
Plagiarism and collusion constitute extremely serious breaches of academic integrity. They are forms of
cheating, and severe penalties are associated with them, including cancellation of marks for a specific
assignment, for a specific unit or even exclusion from the course. If you are ever in doubt about how to
properly use and cite a source of information refer to the referencing site above.
Plagiarism occurs when a student passes off as the student’s own work, or copies without acknowledgement
as to its authorship, the work of any other person or resubmits their own work from a previous assessment
task.
Collusion occurs when a student obtains the agreement of another person for a fraudulent purpose, with the
intent of obtaining an advantage in submitting an assignment or other work.
Work submitted may be reproduced and/or communicated by the university for the purpose of assuring
academic integrity of submissions: https://www.deakin.edu.au/students/studysupport/
referencing/academic-integrity