The Australian Property Institute (API) is a professional industry body representing residential, commercial and plant and machinery valuers, analysts, fund managers and property lawyers.
The API was originally formed in 1927 as the Commonwealth Institute of Valuers.[1] Many[who?] Australian financial institutions require property professionals who carry out mortgage valuation work to be members of the API.[2]
The Commonwealth Institute of Valuers had 3225 members in 1972.[1]
The API provides certifications to its members reflecting their specific field of expertise. Such Certifications are required by some Australian States to practice in the specific field. These Certifications are:
- CPV, Certified Practising Valuer
- RPV, Residential Property Valuer
- CPP, Certified Property Professional
- CPM, Certified Property Manager
- CFM, Certified Funds Manager
- CPD, Certified Property Developer
- CFacM, Certified Facilities Manager
- CAM, Certified Asset Manager
API publications include The Australia & New Zealand Property Journal, the Professional Practice Manual and Valuation Principles and Practices.
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
- The Appraisal Institute (USA)
- Property Institute of New Zealand
- Appraisal Institute of Canada
- Hong Kong Institute of Surveyors (General Practice Division)
- 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 3/60 York Street, Sydney NSW 2000.
