In this we cover the last of the major approaches to valuation the income approach. Now this is the particularly important one the comfortable sales method certainly gives you sensitivity to how valuation is all about fitting your subject property valuations brisbane into its market. The income approach starts to look at a different approach. Which is really beginning to get a bit of flavor for the financial value of a property and how that manifests in value? However we're going to be working further in that another subjects advanced subjects such as property investment and advanced valuation.
So this topic is very important we're really only doing it at an introductory level in this course because our primary focus in this course is to give you a broad brush understanding of the way that the property markets work the mechanics of how property gets its value and so on and the focus in this course is primarily residential the reason for that. That residential property is fairly approachable most people are familiar with it not too many people have had very much experience owning and managing a multi-story commercial tower or something even though by the time you finish the program. You’ll be quite comfortable in that area. However we're going to start with something a lot more domestic and so this course really is focused on residential valuation. We're going to ask you to include or at least invite those of you want to include an income approach in your major assignment at least for those people who want to give the best grades it's not mandatory because in practice residential valuation at present doesn't use the income approach a great deal. However in some markets certainly in some of the more significant urban capital city residential markets value is are beginning to see the application of the income approach for residential property as well. Simply because most of the people buying these properties are looking at them as investments rather than as owner occupation. So that sees both the change in the way that Australia's Australians perceive residential property and that's manifest in the way.
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