Further to the previous communication from the API on 31 July 2019, the API via the Residential Standards sub-Committee has been hard at work finalising the release of the PropertyPRO Supporting Memorandum (PPSM) and associated output reports.

The API expects to be in a position to release the final documentation and resources by Wednesday 5 February 2020.  The resources will be hosted on the API website here.

The PropertyPRO Valuation Report Schema has recently been updated in consultation with the ValEx/CoreLogic Project Team and includes a small number of revisions and amendments.  An updated version of the report schema is now available on the API website, with the changes and revisions highlighted in orange.

For those Members, and their Corporate Employers, who complete PropertyPRO valuations via ValEx Platform, we have been advised that they intend to provide a ValEx specific version of how to send a Valuation Report document in the near future.

The API thanks the industry for its patience in waiting for the release of the PPSM and associated documents.

The effective date for the ‘new’ PropertyPRO Supporting Memorandum, including full adoption of the report templates, is Sunday 5 April 2020.

The current PropertyPRO Residential Valuation and Security Assessment Supporting Memorandum remains in effect.  A PDF version of the current version is available here 

Please do not hesitate to contact us at standards@api.org.au if you have any queries regarding the ‘new’ PropertyPRO Supporting Memorandum or its implementation and release.