MMP111 Study Guide - Final Guide: Environmental Health, Project Manager, Negative Gearing
2 Jun 2018
School
Department
Course
Professor
INTRODUCTION TO PROPERTY MMP111
EXAM REVISION SUMMARISED LECTURE NOTES
AND LEARNING OUTCOMES
WEEK 11 SUMMARY OF IMPORTANT TOPICS
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REAL PROPERTY SECTOR (WEEK ONE)
Learning outcomes
1. Property, property sectors and the different ways property is classified
2. Characteristics of property
3. The concept of value
Land- Provides the foundation for social and economic activities, it is a tangible physical commodity a source of
wealth
Real Estate- An identified parcel or tract of land, including improvements if any, all the attachments and fixtures (e.g.
plumbing/lighting).
Real Property- The interests, benefits and rights inherent of real estate
Bundle of rights (the rights the owner has in relation to their property)
- To use (build on, plant a garden)
- To Sell
- To Lease
- To Enter
- To give away (gift)
TYPE
OFFICE
RETAIL
RESIDENTIAL
INDUSTRIAL
PHYSICAL
CHARACTERISTICS
Minimal office space,
bland/plain, function
space to collaborate
in the environment
Provides space to
sell goods or
services
Most common type of
property, bedrooms,
bathrooms, proximity to
amenities and work e.g.
urban rather than rural,
Less urban area
needs more space
CURRENT MARKET
High occupancy
currently due to high
employment rates
Not as strong due
to more online
shopping now
Staying even
Slowing down more
technology rather
than humans
required
CHALLENGES
Cyclic and volatile
market, high cost
and time lags,
constant changing
nature of CBDSS
More complex and
sophisticated
market, few
anchor tenants
available
Increasing house prices,
affordability crisis,
fundamental
demographic changes
High cost structure,
geographic
remoteness, rise of
new technologies
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find more resources at oneclass.com
*Real estate economics and market week two*
Learning outcomes
1. property cycles
2. the 'four quadrant' model
3. types of sub-markets
Economics- Is how/why individuals and groups make decisions/ choice and undertake actions. It is basd on
o Finacial
o Resource
o Polotical
o Social
o Environmental considerations
Macroeconomics- Is the study of aggregates of the economy which attempts to explain the broad components of
the natural economy: governments regions, industry sectors and economic variables.
Microeconomics- Examines the economic behaviour actions and choices of individual units within the economy.
Includes, individuals, households and businesses that interact within the market and communities
Monetary Theory- The government controlling the volume, price and velocity of monetary circulation.
Market Analysis- A process for examining the demand and supply of a property type and the geographic market area
for that property type
Marketability analysis- A process that investigates how a particular piece of property will be absorbed, sold, leased,
under current or anticipated market conditions/ including a market anaylsis
Value influences
Social- Population, education, age, household size
Economic- Income, ownership and vacancy
Governmental- Tax, developmental laws
Environmental- Property structure, location
Six step market analysis process
1. Define the product
2. Market delineation
3. Demand analysis
4. Supply analysis
5. Analyse the interaction
6. Forecast subject capture
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
And learning outcomes (cid:894)week 11 summary of important topics(cid:895) Learning outcomes: property, property sectors and the different ways property is classified, characteristics of property, the concept of value. Land- provides the foundation for social and economic activities, it is a tangible physical commodity a source of wealth. Real estate- an identified parcel or tract of land, including improvements if any, all the attachments and fixtures (e. g. plumbing/lighting). Real property- the interests, benefits and rights inherent of real estate. Bundle of rights (the rights the owner has in relation to their property) Minimal office space, bland/plain, function space to collaborate in the environment. Most common type of property, bedrooms, bathrooms, proximity to amenities and work e. g. urban rather than rural, High occupancy currently due to high employment rates. Not as strong due to more online shopping now. Cyclic and volatile market, high cost and time lags, constant changing nature of cbdss. More complex and sophisticated market, few anchor tenants available.
