PropertyPRO 2019 (updated 6 March 2019)

A full review of the API PropertyPRO Residential Valuation & Security Assessment Supporting Memorandum has been undertaken.

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 (PPSM), including 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.  There are several excel files available in the Resources below, including ‘PPSM fields’ which contains all the fields and their functionality in the proposed industry standard user interface for each output report.

The API and the IT developers at ValEx/CoreLogic have released two (2) industry standard webservices schemas to facilitate the transfer of report data for the Valuation Reports and the Progress Report.  The two (2) webservices schemas are available in the Resources below.

The ValEx/CoreLogic IT developers continue to work on an industry standard user interface which will be subject to API review and testing to ensure it complies with the API guidelines and Resources for the ‘new’ PropertyPRO Supporting Memorandum and suite of reports.

The final 'draft' version of the PPSM document has been reviewed and approved by both the Residential Standards sub-Committee and the Australian Valuation Standards Committee.  It was tabled and endorsed for release by the API Board at their December 2018 board meeting.  The final 'draft' version of the PPSM is available in the list of Resources below.   It will remain as a 'draft' version without an effective date as the effective date is reliant on the wider industry IT development work occurring.

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