The structure of the course
The focus of the first semester is on the acquisition and understanding of core knowledge and skills. Details of the individual courses are set out below:
Property Economics (15 credits)
The economic characteristics of property and the way in which these impact on the structure and operation of property markets. The use, development and investment sectors of the market and their interactions. Property in the local, regional and macro economy; and property cycles.
Theory and Ethics in the Built Environment (15 credits)
Contemporary theoretical and philosophical perspectives in the social sciences and their applicability to research and practice in property; the role of the surveyor in society; professional identity, practice and ethics in property; theory and action in property.
Research Methods (15 credits)
Identifying research problems, selecting appropriate methodologies and designing and implementing research. Quantitative and qualitative methodologies; analysing, interpreting and commenting on different types of data and research outputs; effective communication using a variety of media.
Spatial Planning System (15 credits)
The nature of spatial planning. The development, mechanisms and effectiveness of spatial planning systems at different scales (from UK, European and other international perspectives. The political structures and processes in which spatial planning systems are embedded.
The second semester focuses on the development, application and integration of knowledge and skills. Details of the individual courses are set out below:
Integrated Project (45 credits)
The project will be a vehicle for inter-disciplinary / inter-professional work. Apart from the participation of CP and P and D property students, a similar module on the MA Town and Regional Planning will allow for interaction with planning and design analysis and practice. The project will locate property in its institutional context, including matters of professional practice, and there will be a strong emphasis on the production and presentation of reports to clients. The project consists of three elements:
Financial mathematics; basic valuation and investment formulae; principal methods of valuation; purposes and mandatory requirements of valuations; statutory valuations; introduction to valuation practice, including relevant standards and guidance.
- Property Development:
The development process; the structure and behaviour of the development industry; development appraisal and its application in practice; forms of and access to development finance; the influence of the planning system on property development and investment.
- Planning Law:
The legal basis for town planning in Britain; the arrangements for the control of development within the planning system; policy attitudes to the system and the effect of policy and legislative change; environmental assessment; the concept of planning gain.
And then a choice of one option module (15 credits each) from:
- Property Market Analysis
The operation of sectoral markets: office, retail, industrial and housing markets; and the economics of planning. The impact of occupier/user, investor and developer decisions on the spatial structures of markets. The temporal dynamics of sectoral markets. Quantitative modelling and forecasting techniques.
- Investment Valuation:
The investment method of valuation; applications of traditional and modern methods of investment valuation; valuation of legal interests in property, including freeholds and leaseholds and the surrender and renewal of property as business circumstances change.
- Law of Business Leases:
The use of the business lease as a key tool of commercial property management. The impact of variations in the main terms of a lease upon its attractiveness and value to lessor and lessee and, by extension, on the value of investment property.
The option may also be chosen from those offered by the Department's other postgraduate programmes (Issues in Housing or Local and Regional Economic Policy).
The final semester focuses on the development of specialist knowledge and high level research skills. It involves the completion of a dissertation.
A substantial, planned programme of research that develops to a high level: personal, generic skills; research skills; and specialist knowledge and understanding of a selected subject area. Prepared under the individual guidance and supervision of a member of staff.