PropertyPRO 2018

PropertyPRO

Over the past few years the API has undertaken a full review of the API PropertyPRO Residential Valuation & Security Assessment Supporting Memorandum. 

The API would like to thank the members of the residential standards sub-committee for their work on this project over the past few years as well as those Members and industry stakeholders who provided feedback and input into the revised Supporting Memorandum and output reports. 

This review has resulted in a ‘new’ PropertyPRO Supporting Memorandum, which has been approved by the API Board, and includes a number of updates, changes and additions as well as eleven (11) Valuation Reports for different residential property types and a Progress Inspection report.

Examples of the eleven (11) different output report templates and the one (1) progress report template that make up the suite of reports that are noted in the ‘new’ PropertyPRO Supporting Memorandum and will be in accordance with the requirements and guidelines under the new PropertyPRO Supporting Memorandum are available at the links at the base of this page. 

The guidelines for the use of the API and PropertyPRO logos in the PropertyPRO output reports are also available below, as is an excel file which contains the ‘PPSM fields’ and outlines all fields and their functionality in the industry standard user interface for each output report.

The API is working closely with the IT developers at ValEx/CoreLogic on the creation of an industry standard user interface and webservices functionality.  Further updates on these items will be available in the near future.

During the output report and IT build work, the API identified a number of items in the PropertyPRO Supporting Memorandum that required updating to provide further clarity and consistency between the PPSM and the associated output reports.  The final review of the PPSM is currently underway and we are hoping to release the final draft version by mid September 2018.  It will be  released as a draft version without an effective date as the effective date is reliant on IT build work occurring.

A copy of the closed exposure draft version of the PPSM has been added to the list of Resources below.  Please note, some changes have been made to the content since the exposure draft period closed and the Board approved the document.  

The current PropertyPRO Residential Valuation and Security Assessment Supporting Memorandum remains in effect.

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.

Resources