USB247 Money and Property
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | USB247 |
|---|---|
| Prerequisite(s): | USB144 or USB242 |
| Antirequisite(s): | USB341 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,124 |
| Pre-2021 CSP student contribution | $1,663 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,204 |
| International unit fee | $4,512 |
Unit Outline: Semester 1 2025, Gardens Point, Internal
| Unit code: | USB247 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | USB144 or USB242 |
| Anti-requisite: | USB341 |
| Coordinator: | Jian Liang | j30.liang@qut.edu.au |
Overview
Money and Property aims at providing students with analytical tools and skills necessary for understanding property finance and investment whilst developing their understanding of the role of property assets within the capital markets. It is important to understand the role and nature of property finance as it affects all aspects of property ownership, management, use and development. Due to its distinct characteristics of each asset class, debt and equity financing plays a major role in investment decisions. As such, this unit seeks to provide an understanding and competency in property finance fundamentals.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify the sources and characteristics of equity and debt finance for income producing property.
- Apply different loan structures and security instruments to a range of property assets.
- Critically analyse the potential risks and returns of direct and indirect, debt and equity funding in property investment opportunities.
- Make professional judgments by examining the relationship between listed and unlisted property securities in the Australian capital markets and the property investment industry.
- Evaluate innovative and non-traditional funding options.
- Collaborate to create a portfolio and achieve shared goals.
- Present solutions through written communication.
Content
Learning outcomes will be achieved through coverage of the following topics:
- An introduction to the finance and banking industry
- Bank lending criteria
- Common loan structures
- The impact of the Global Financial Crisis on lending
- Property investment vehicles
- Security instruments in direct and indirect property markets
- Real estate investment trusts (REITs)
Learning Approaches
This unit engages you in your learning through a theory-to-practice approach, with a large proportion of the unit made up of practical application of basic theoretial concepts. This unit will involve lectures, tutorials and directed private study. Lectures (normally two (2) hours/week) will convey the essential theoretical background to the unit. Tutorials (normally one (1) hour/week) are designed to engage you in collaborative activites with your peers and tutors. Tutorials will help you understand and apply the key concepts via more practical application. You will also be expected to undertake directed private study and read the relevant sections of the required text and other readings to supplement the lectures and tutorials.
Lectures
Weekly lectures will be the primary method of teaching for this unit. Lecture material will generally be available for you to download from the Canvas site each week. You may also be expected to complete required reading prior to lectures. During the lecture, we will work through the lecture material covering the important aspects of each week's work including both theory and practical aspects.
Tutorials
Computer lab tutorials are held on a weekly basis, from Week 2 to Week 12. Tutorials are designed to help you gain a better understanding of the theoretical principles through practical application. They are also designed to assist you in performing the best you can in your assessment items. Tutorials are also an important avenue for students to seek formative feedback from lecturers/tutors.
Your participation in the unit will include:
- Engagement in weekly lectures to introduce new concepts
- Independent review of online resources and completion of online learning activities to deepen your understanding of key concepts
- Weekly tutorials to provide practice on the concepts discussed in the lecture and the opportunity to complete practice exercises to develop the skills you will need to develop the discounted cash flow model
Feedback on Learning and Assessment
Feedback in this unit is provided in the following ways:
- Marking rubrics will be provided to show the expectations for each assessment item.
- Marking rubrics with comments will be returned to you via the online submission portal.
- Lecture / tutorial sessions are available for group and individual feedback prior to the completion of assessments.
- Generic comments will be provided via QUT Canvas and in class.
- Self-Feedback - Reflect on skills and identify what support and resources are needed
- Peer feedback - Group work
- Adaptive feedback [i.e. online quizzes] - Online quiz if applicable
- Expert feedback - Guest lectures
- Teacher feedback: In class formative feedback during tutorial and summative feedback online
Assessment
Overview
The assessment in this unit aims to support your achievement of the learning outcomes and has been designed to provide the opportunity for you to perform real world tasks and develop skills in working with professional teams. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Home Loan Application
Acting as a young graduate who will buy your first investment home, you will prepare your first home loan application based on a provided scenario. You will apply your knowledge of the use of debt and equity, loan structures, security instruments and financing risks within the scope of residential lending practices in Australia. A simple discounted cash flow model in MS Excel is used to support the decision on selection of the loan and the affordability recommendation.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Investment Report
Acting as a group of 3-4 property finance analysts, you will prepare a structured report for an investor that analyses a selection of listed and unlisted property investment opportunities against selected investment objectives. You will apply your knowledge of the characteristics of various debt and equity products and financing risks within the scope of the Australia capital markets and the property investment industry.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
In the end of semester exam, you will act as a property finance analyst and analyse information to provide recommendations for finance decision. You will also demonstrate your knowledge of all the material covered during the semester.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Referencing & Assignment Writing
QUT cite|write is a set of resources to assist the development of citing, referencing and academic writing skills. The free online resource is located on website http://www.citewrite.qut.edu.au/.
Guides to assignment writing - Learn how to write in specific formats such as a literature review, annotated bibliography or thesis. Refer website located at http://www.library.qut.edu.au/learn/learnhow/ for information on Evaluating information, Writing a literature review, Writing a research proposal, Writing an annotated bibliography, Writing research reports and research papers, Writing theses and dissertations, Academic Honesty - How to Avoid Plagiarism, and Research methodologies.
If you have questions about doing an assignment, ask at the Library Help Desks, in person, by phone, email, web chat, and SMS.
Resource Materials
Prescribed text(s)
Rowland, P. (2010) Australian Property Investment and Financing, Thomson Reuters Australia Limited, Sydney, NSW.
Recommended text(s)
Ling, D. and W.R. Archer (2021) Real Estate Principles: A Value Approach, 6th Edition, Mchill-hill/Irwin Series in Finance, Insurance and Real Estate, New York, McGraw-Hill Irwin.
Geltner, D.M., N.G. Miller, J. Clayton and P. Eichholtz (2014) Commercial Real Estate Analysis and Investments, 3rd Edition, USA.
Reference book(s)
Other references may be provided during the course of the semester.
Other
You are required to visit and use the Unit Canvas site: https://Canvas.qut.edu.au/ throughout the semester for access to: lecture material, assessment details, additional readings, announcements and other unit information that may be posted from time to time.
Students may choose to have a financial calculator for this unit. Recommended is the Sharp EL-735s financial calculator, which is available from the QUT Book Shop and other general retailers.
Students are expected to have intermediate excel skills to succeed in this unit. QUT offers FREE Online IT Training Service available to all staff and students, and all you require is your QUT Access Username and Password. For more information on the Online IT Training please see the following links:
Students are expected to read the financial press to keep up to date with the practical application of property finance and investment concepts. Hard copy editions of the Australian Financial Review and The Australian are available daily from the QUT Library. On-line versions are also available via various databases also available through the QUT Library (eg LibraryPressDisplay or Factiva etc).
Risk Assessment Statement
There are no extraordinary risks associated with the classroom/lecture activities in this unit
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.UD05 Bachelor of Property Economics
- Apply theoretical knowledge and technical skills, including fundamentals of building construction and knowledge of legal, social, cultural, and technological contexts, required to manage property assets and investment portfolios; analyse property markets, the drivers of property value and the feasibility of development; and identify future funding and transaction processes.
Relates to: ULO1, ULO2, Home Loan Application, Investment Report, Final Exam - Think critically and innovatively to solve problems by applying methodologies and calculations to identify innovative solutions and sustainability strategies and evaluate the feasibility of property development and investment opportunities.
Relates to: ULO3, ULO5, Home Loan Application, Investment Report, Final Exam - Analyse data using current proprietary software and strategies to evaluate financial and property market trends to inform current and future property decisions.
Relates to: Home Loan Application, Investment Report, Final Exam - Communicate and collaborate strategically in professional contexts with diverse stakeholders
Relates to: ULO6, ULO7, Investment Report - Display professional, ethical judgment and initiative, adapt to social, economic, technological and environmental challenges, and lead and manage people with consideration for different cultural perspectives and priorities.
Relates to: ULO4, Investment Report
Unit Outline: Semester 1 2025, Online
| Unit code: | USB247 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | USB144 or USB242 |
| Anti-requisite: | USB341 |
Overview
Money and Property aims at providing students with analytical tools and skills necessary for understanding property finance and investment whilst developing their understanding of the role of property assets within the capital markets. It is important to understand the role and nature of property finance as it affects all aspects of property ownership, management, use and development. Due to its distinct characteristics of each asset class, debt and equity financing plays a major role in investment decisions. As such, this unit seeks to provide an understanding and competency in property finance fundamentals.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify the sources and characteristics of equity and debt finance for income producing property.
- Apply different loan structures and security instruments to a range of property assets.
- Critically analyse the potential risks and returns of direct and indirect, debt and equity funding in property investment opportunities.
- Make professional judgments by examining the relationship between listed and unlisted property securities in the Australian capital markets and the property investment industry.
- Evaluate innovative and non-traditional funding options.
- Collaborate to create a portfolio and achieve shared goals.
- Present solutions through written communication.
Content
Learning outcomes will be achieved through coverage of the following topics:
- An introduction to the finance and banking industry
- Bank lending criteria
- Common loan structures
- The impact of the Global Financial Crisis on lending
- Property investment vehicles
- Security instruments in direct and indirect property markets
- Real estate investment trusts (REITs)
Learning Approaches
This unit engages you in your learning through a theory-to-practice approach, with a large proportion of the unit made up of practical application of basic theoretial concepts. This unit will involve lectures, tutorials and directed private study. Lectures (normally two (2) hours/week) will convey the essential theoretical background to the unit. Tutorials (normally one (1) hour/week) are designed to engage you in collaborative activites with your peers and tutors. Tutorials will help you understand and apply the key concepts via more practical application. You will also be expected to undertake directed private study and read the relevant sections of the required text and other readings to supplement the lectures and tutorials.
Lectures
Weekly lectures will be the primary method of teaching for this unit. Lecture material will generally be available for you to download from the Canvas site each week. You may also be expected to complete required reading prior to lectures. During the lecture, we will work through the lecture material covering the important aspects of each week's work including both theory and practical aspects.
Tutorials
Computer lab tutorials are held on a weekly basis, from Week 2 to Week 12. Tutorials are designed to help you gain a better understanding of the theoretical principles through practical application. They are also designed to assist you in performing the best you can in your assessment items. Tutorials are also an important avenue for students to seek formative feedback from lecturers/tutors.
Your participation in the unit will include:
- Engagement in weekly lectures to introduce new concepts
- Independent review of online resources and completion of online learning activities to deepen your understanding of key concepts
- Weekly tutorials to provide practice on the concepts discussed in the lecture and the opportunity to complete practice exercises to develop the skills you will need to develop the discounted cash flow model
Feedback on Learning and Assessment
Feedback in this unit is provided in the following ways:
- Marking rubrics will be provided to show the expectations for each assessment item.
- Marking rubrics with comments will be returned to you via the online submission portal.
- Lecture / tutorial sessions are available for group and individual feedback prior to the completion of assessments.
- Generic comments will be provided via QUT Canvas and in class.
- Self-Feedback - Reflect on skills and identify what support and resources are needed
- Peer feedback - Group work
- Adaptive feedback [i.e. online quizzes] - Online quiz if applicable
- Expert feedback - Guest lectures
- Teacher feedback: In class formative feedback during tutorial and summative feedback online
Assessment
Overview
The assessment in this unit aims to support your achievement of the learning outcomes and has been designed to provide the opportunity for you to perform real world tasks and develop skills in working with professional teams. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Home Loan Application
Acting as a young graduate who will buy your first investment home, you will prepare your first home loan application based on a provided scenario. You will apply your knowledge of the use of debt and equity, loan structures, security instruments and financing risks within the scope of residential lending practices in Australia. A simple discounted cash flow model in MS Excel is used to support the decision on selection of the loan and the affordability recommendation.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Investment Report
Acting as a group of 3-4 property finance analysts, you will prepare a structured report for an investor that analyses a selection of listed and unlisted property investment opportunities against selected investment objectives. You will apply your knowledge of the characteristics of various debt and equity products and financing risks within the scope of the Australia capital markets and the property investment industry.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
In the end of semester exam, you will act as a property finance analyst and analyse information to provide recommendations for finance decision. You will also demonstrate your knowledge of all the material covered during the semester.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Referencing & Assignment Writing
QUT cite|write is a set of resources to assist the development of citing, referencing and academic writing skills. The free online resource is located on website http://www.citewrite.qut.edu.au/.
Guides to assignment writing - Learn how to write in specific formats such as a literature review, annotated bibliography or thesis. Refer website located at http://www.library.qut.edu.au/learn/learnhow/ for information on Evaluating information, Writing a literature review, Writing a research proposal, Writing an annotated bibliography, Writing research reports and research papers, Writing theses and dissertations, Academic Honesty - How to Avoid Plagiarism, and Research methodologies.
If you have questions about doing an assignment, ask at the Library Help Desks, in person, by phone, email, web chat, and SMS.
Resource Materials
Prescribed text(s)
Rowland, P. (2010) Australian Property Investment and Financing, Thomson Reuters Australia Limited, Sydney, NSW.
Recommended text(s)
Ling, D. and W.R. Archer (2021) Real Estate Principles: A Value Approach, 6th Edition, Mchill-hill/Irwin Series in Finance, Insurance and Real Estate, New York, McGraw-Hill Irwin.
Geltner, D.M., N.G. Miller, J. Clayton and P. Eichholtz (2014) Commercial Real Estate Analysis and Investments, 3rd Edition, USA.
Reference book(s)
Other references may be provided during the course of the semester.
Other
You are required to visit and use the Unit Canvas site: https://Canvas.qut.edu.au/ throughout the semester for access to: lecture material, assessment details, additional readings, announcements and other unit information that may be posted from time to time.
Students may choose to have a financial calculator for this unit. Recommended is the Sharp EL-735s financial calculator, which is available from the QUT Book Shop and other general retailers.
Students are expected to have intermediate excel skills to succeed in this unit. QUT offers FREE Online IT Training Service available to all staff and students, and all you require is your QUT Access Username and Password. For more information on the Online IT Training please see the following links:
Students are expected to read the financial press to keep up to date with the practical application of property finance and investment concepts. Hard copy editions of the Australian Financial Review and The Australian are available daily from the QUT Library. On-line versions are also available via various databases also available through the QUT Library (eg LibraryPressDisplay or Factiva etc).
Risk Assessment Statement
There are no extraordinary risks associated with the classroom/lecture activities in this unit
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.UD05 Bachelor of Property Economics
- Apply theoretical knowledge and technical skills, including fundamentals of building construction and knowledge of legal, social, cultural, and technological contexts, required to manage property assets and investment portfolios; analyse property markets, the drivers of property value and the feasibility of development; and identify future funding and transaction processes.
Relates to: ULO1, ULO2, Home Loan Application, Investment Report, Final Exam - Think critically and innovatively to solve problems by applying methodologies and calculations to identify innovative solutions and sustainability strategies and evaluate the feasibility of property development and investment opportunities.
Relates to: ULO3, ULO5, Home Loan Application, Investment Report, Final Exam - Analyse data using current proprietary software and strategies to evaluate financial and property market trends to inform current and future property decisions.
Relates to: Home Loan Application, Investment Report, Final Exam - Communicate and collaborate strategically in professional contexts with diverse stakeholders
Relates to: ULO6, ULO7, Investment Report - Display professional, ethical judgment and initiative, adapt to social, economic, technological and environmental challenges, and lead and manage people with consideration for different cultural perspectives and priorities.
Relates to: ULO4, Investment Report