Australian Property Institute
From Wikipedia, the free encyclopedia
The Australian Property Institute is a professional body representing over 7,500 Australian property professionals, including residential, commercial and plant and machinery valuers, property advisers, property analysts and fund managers, property lawyers, and property researchers and academics.
The API was originally formed in 1926 as the Commonwealth Institute of Valuers, and was renamed a number of times over the intervening years as its range of activities expanded.
In some states of Australia, state government regulations specify that property professionals must belong to a member association such as the API. Many major Australian financial institutions also require property professionals who carry out mortgage valuation work to be members of the API.
The API produces a number of publications, including
- Australian Property Journal,
- Professional Practice Manual,
- Valuation Principles and Practices, and
- the PropertyPro software application (provides a pro forma template for residential mortgage valuation work. This template is the preferred format for the majority of Australia’s leading financial institutions).
Members of the Institute are bound by a code of ethics, rules of conduct, and professional practice standards. The API has reciprocity agreements with the following bodies
- Appraisal Institute of Canada
- Hong Kong Institute of Surveyors (General Practice Division)
- Property Institute of New Zealand
- Royal Institution of Chartered Surveyors, United Kingdom (General Practice Division)
- Singapore Institute of Surveyors and Valuers (General Practice Division)
These reciprocity agreements provide API members with portable skills and qualifications allowing them to practice throughout the world.
The National Office of the Australian Property Institute is located at 6 Campion Street, Deakin, Canberra.
[edit] External link
- Australian Property Institute (Official site)
