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
Pre-requisites or Co-requisites
PROP11001 Property Valuation
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2024
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).
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 Grading
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 Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure - Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure - International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback - Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
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 from Informal feedback
More clarity for the assignment requirements would be useful
Review the level of detail in the assignment outline.
- Assess the physical aspects of rural property for their suitability for dominant Australian rural land uses.
- Conduct rural property valuations by applying appropriate valuation methods.
- Evaluate the factors that impact on the economic use of rural property and its value.
- 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 - 50% | ||||
| 2 - Take Home Exam - 50% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| 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 | ||||
| 9 - Social Innovation | ||||
| 10 - Aboriginal and Torres Strait Islander Cultures | ||||
Textbooks
There are no required textbooks.
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- CoreLogic Property Data system (optional, available via login from Library)
All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)
For further information, see the Assessment Tasks.
g.small@cqu.edu.au
Module/Topic
Introduction to Rural Property
Chapter
1: Introduction
Events and Submissions/Topic
Module/Topic
Land in the Rural Landscape
Chapter
2: Geographic and Spatial Location
Events and Submissions/Topic
Module/Topic
Sale Analysis and Valuation
Chapter
6: Basic Valuation Methodology
+ 7: Valuation of more complex properties, pp.335-344
Events and Submissions/Topic
Module/Topic
The Pastoral & Dairy Industries
Chapter
3: The Needs of Enterprise
Events and Submissions/Topic
Module/Topic
Broad Acre Agriculture
Chapter
3: The Needs of Enterprise
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
The Sugar Industry
Chapter
7: Valuation of more complex properties
Events and Submissions/Topic
Module/Topic
Small Cropping & Orchards
Chapter
3:The Needs of Enterprise
Events and Submissions/Topic
Module/Topic
Other Rural Industries
Chapter
7: Valuation of more complex properties
Events and Submissions/Topic
Module/Topic
Vegetation in the Rural Landscape
Chapter
2: Geographic and Spatial Location
Events and Submissions/Topic
Module/Topic
Water in the Rural Landscape
Chapter
2: Geographic and Spatial Location
Events and Submissions/Topic
Module/Topic
Climate Change, Rural Productivity and Carbon Management
Chapter
5: Externalities
Events and Submissions/Topic
Module/Topic
GIS Applications for Rural Valuation
Chapter
no set text
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Written Assessment
You are required to complete a long form Market Valuation Report of a rural property based upon either:
- A rural farming property of at least 250 hectares in size, or;
- 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.
Week 7 Friday (26 Apr 2024) 11:59 pm AEST
Include marking grid at end of document.
Week 9 Friday (10 May 2024)
The assessment will be marked against the following criteria:
| 1 | Presentation |
| 2 | Property Description |
| 3 | Economic Outlook |
| 4 | Valuation approach |
| 5 | Valuation deduction |
| 6 | Income appraisal |
| 7 | Method appraisal |
| 8 | Practitioner contact |
| 9 | Insightfulness |
The criteria are not equally weighted and further details of assessment criteria may be found on the Moodle site.
- Assess the physical aspects of rural property for their suitability for dominant Australian rural land uses.
- Conduct rural property valuations by applying appropriate valuation methods.
- Evaluate the factors that impact on the economic use of rural property and its value.
- Communicate effectively with diverse stakeholders engaged in rural land use and its valuation.
2 Take Home Exam
No Assessment Task Description
No Assessment Criteria
No submission method provided.
- Assess the physical aspects of rural property for their suitability for dominant Australian rural land uses.
- Evaluate the factors that impact on the economic use of rural property and its value.
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
