BILD 261 Building Project Management Economy Assignment 1 2025-26 | VUW

BILD 261 Course Learning Outcomes of Assignment 1

This assignment is designed to progress you towards achieving the BILD 261 course outline to obtain knowledge and comprehension of the basic principles of the economy  (micro and macro),  and the importance of real estate market analysis techniques to understand the demand and opportunity cost. The  course  learning objective(s) of this work are:  

CLO 1: Demonstrate an understanding of both macro and microeconomic theory and practice in the New Zealand context, with a particular emphasis on the economics of the real estate market. 

CLO 2: Apply theoretical knowledge of economics to professional practice and explain the economic differences between markets.

Background

The Real Estate (RE) markets in New Zealand have been showing ups and downs in this decade, reaching levels that challenge industry experts. Prices in cities such as Auckland and Wellington are among the highest, comparable to places like London and New York. This phenomenon affects everyone locally, as it is difficult to acquire real estate, especially in the main cities of New Zealand.  This course has been designed to provoke critical views on the local economy, considering aspects in the macro and micro of the RE industry of NZ’s economic scenario, and its impacts on Housing projects.  

The students should be able to ask questions such as:  

1. How are statistical analysis reports of  RE helping in economic decision-making and forecasting the future?  

2. How do the demand and supply influence the pricing factor, and how is it balanced with the equilibrium price in RE? 

3. What are the micro and macroeconomic factors in  RE  assisting in price decision-making? 

BILD 261 Assignment Module 1-Real Estate

Project Description: The primary purpose is to allow students to demonstrate their ability to understand the economy and describe how the market moves in RE. 

The aim of Assignment 1: Module 1 is to collect real-time data and information from journals, local newspapers and magazines, and official websites, preferably in the field of finance/economics of  RE.  Then demonstrate through the report(s) current scenarios and their impact through the case studies on the future. 

Location: Choose one urban area, preferably Auckland, Wellington, Christchurch, or Dunedin, where RE and Construction are growing significantly and also where publications on this area are available. 

BILD 261 Tasks

1. Explore a minimum of 10 published reports on each of the RE demand and supply reports, and analyse the recent trends of RE in your selected urban area.  

2. Select 1 location within your selected urban area. At your selected location, select a minimum of 10 RE properties. All property selections should be similar, namely 1-storey / 2-storey / townhouse, / Bungalow. 

3. Explore each property’s details and its location. Collect each property’s transaction cost, property features, facilities, and amenities details as much as possible.  

4. Finally, develop a critical review on your way that addresses a) the RE economy of your selected Urban, and b) the influencing factors in the price finalisation on RE demand and supply of the selected urban.  

Note:  

Transaction cost: property value.

Property features: land area, built-up area, number of rooms, etc.   
Property amenities: nearby accessibilities, transportation, location, etc. 

Project facilities: sustainability considerations, automation features, life-cycle cost considerations, low maintenance, etc.. informed by the owners or property managers