The Australian Property Institute (API) has lodged a supplementary submission to the Senate Select Committee on Intergenerational Housing Inequity, chaired by Senator Barbara Pocock. 

The API’s submission takes a deliberately narrow and apolitical position. The API does not advocate for or against particular tax, lending or planning settings. Our point is one of principle: almost every option before this inquiry, whatever its merits, depends on the ability to assess property value accurately, consistently and defensibly, and that assessment is the work API valuer members undertake every day. 

The submission makes seven recommendations covering the following themes: 

(a)  Engage the valuation profession directly. 

(b)  Treat valuation capacity as an implementation prerequisite. 

(c)  Anchor expanded valuation in recognised standards. 

(d)  Provide for defensible valuation at transfer and death. 

(e)  Protect mortgage valuation integrity. 

(f)  Value non-market housing on a consistent basis. 

(g)  Resource acquisition valuation. 

A copy of the API’s formal submission is available on the API Advocacy page.