Re‐engineering a valuation degree: how did we get here and where do we go?

Abstract

Purpose

This paper aims to review property and valuation education within the university context, using the experience of program re‐development at RMIT University, Melbourne, Australia, as a case study.

Design/methodology/approach

The paper utilises a literature review, comparing and contrasting the program renewal process within the university to experiences elsewhere and their inherent values. In critically examining some of the difficulties found within the program renewal process, issues symptomatic of the wider valuation profession and tertiary education system have been revealed. It provides the genesis of a wider study linking tertiary education and the valuation profession's needs in the mid‐term.

Findings

Valuation education is often subsumed within a generalist property curriculum. As part of their resource allocation models universities are now paying close attention to teaching quality, research output, and graduate outcomes, often favouring generalist curricula rather than discipline‐specific. There needs to be a careful analysis of the university experience of property and valuation students to ensure that graduate capabilities meet industry expectations, and that graduates themselves are able to adapt to future change. There also needs to be greater attention paid to the quality of teaching within universities and more evidence that mainstream tertiary teaching pedagogy is properly applied within the programs offered.

Research limitations/implications

As a case study this paper chronicles the experiences at one university. It indicates a need for a wider, systematic study of how greater engagement by property and valuation academic and teaching staff can be more actively engaged in mainstream university teaching pedagogy.

Originality/value

The value of this paper lies in its chronicling of a detailed and structured renewal process. It highlights real difficulties faced by tertiary academics in a narrow discipline such as valuation during a renewal process, aimed at continuing high‐quality professional education.

Citation

Baxter, J.S. (2007), "Re‐engineering a valuation degree: how did we get here and where do we go?", Journal of Property Investment & Finance, Vol. 25 No. 5, pp. 444-467. https://doi.org/10.1108/14635780710776666