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TRP6410

Real Estate Economics

Assessment

Number of assessment/s: One assessed report

Type of assessment/s: This course will be assessed on the basis of an assessed report will require students to undertake a practical market analysis exercise, involving the use of secondary data (100%).

The Market Analysis exercise

Scenario: You are employed in the research department of a leading firm of Chartered Surveyors and have been commissioned to write a report for an international investment client.

Brief: The client is interested in acquiring office or retail property in London. Your report should explain the structure and operation of the commercial real estate markets. It should also brief the client on recent trends, current market conditions and explore future prospects for direct investment in retail or office property. It anticipated that, on the basis of your analysis, you will make a specific recommendation.

Coverage: You will need to draw together lecture and reference material on the economics of real estate markets, the principles of investment and the performance of the London real estate market.

Hint: You should make sure that both office and retail market are analysed in the report. You will need to think about the conceptual linkages between user, investment and development markets and the wider economy. Your findings should include both quantitative analysis of market activity and qualitative assessments of market conditions. Quantitative evidence might include local and regional economic data, rents and yields, vacancy rates, development activity, etc. You will need to consult data that covers a lengthy time period. Qualitative material might include the pattern of land and property use, the quality and form of buildings and locations, urban regeneration and planning policy, the observable evidence of vacancy, dereliction, development, urban regeneration, and any other factors you consider relevant.

Style:  Note that you are asked for a report rather than an essay. The report should be approximately 2500 words.  The report should include diagrams and data as appropriate.  Think about the scenario: this is a report by a consultant designed to convey the key arguments to a policy maker in the most effective manner.

References:  You should draw on the reference material accompanying the lectures for this course and search independently for additional relevant information.  All sources should be acknowledged in the text (author and date) and listed in full at the end of the report using ‘Harvard format’.  If you need advice on this, see Cuba, L and Cocking, J (1994)  How To Write About The Social Sciences, London, Harper Collins  pp 113-121. You should use the Harvard System for references.

Collaboration: Collaboration in the search for relevant information and data, and in the discussion and sharing of ideas is acceptable. However, the report itself must be your own original work. Where it draws on shared material, this should be indicated and the nature of the collaboration should be explained. Unattributed collaboration is plagiarism and constitutes a serious form of cheating which will be penalised.

Week in which assessment/s details will be distributed: The details about the assessment will be distributed in Week 10 at the Assessment Brief and Report Writing Session.

Deadlines for assessed work: The submission dates for coursework / dates for examinations will be provided to students by the end of week 2.  This information will be available here: 

Postgraduate Submission Dates

Extensions/Extenuating Circumstances: Please note that the module leaders are not eligible to give extension, please follow the instructions in the Blackboard Hub. Any required extensions must be requested by using the online Extension Request/Extenuating Circumstances form. Extensions should be requested prior to the submission deadline. 

Submission: Your assessment should be submitted via Turnitin/Blackboard, no paper copy is required.

How you will receive feedback on your work: 

Feedback on all forms of work will be given in the form of a comment sheet, which will indicate the main strengths and weaknesses of the work, and highlight ways in which performance can be improved.'

When you will receive feedback: You will receive your feedback within 3 weeks of the submission deadline for each assessment.  If, due to unforeseen circumstances (such as illness), it is not possible to return work within this timescale, all students will be notified.