Annual Report 2012 - The Australian Property Institute

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The Australian Property Institute Annual Report | 2012Queensland Division2012 has been another active and successful year for the Queensland Division.The Divisional Council has continued to work throughout the last year on improvingmembership services and the profile of the API for the benefit of members.Our Division once again conducted two of thelargest events run by the API across the country:our Economic Indicators Lunch in February (cobrandedwith Finsia) and our annual QueenslandProperty Conference. Our CPD events continue toattract record numbers of attendees and provide avariety of subject material and enjoyable fellowshipfor members.These events are also continuing to attractlarge numbers of non-members, which is astrong endorsement of the quality of the contentand speakers at these events. The QueenslandDivision is very proud of the quality and diversityof our CPD program. The engagement level acrossa state with such a scattered membership baseproves how well our program is received.There were a number of particular issues thatarose throughout the year on behalf of membersand it is important that all members are aware ofthe ongoing activities that are completed on theirbehalf.These are as follows:• Members of the API who are active in thevaluation of residential properties have beensubject to ongoing comments from thedevelopment sector about the accuracy ofresidential valuations. The API has addressedthese concerns throughout 2012 by assistingthe Australian Bankers Association withthe drafting of the new standard residentialvaluation instructions which have now beenapproved for use by the ABA. The API hasalso met with representatives of the PropertyCouncil of Australia, The Urban DevelopmentInstitute of Australia, The Master BuildersAssociation and Housing Industry Associationto outline the role of members of the APIin this field. The API undertook to addressthe issues affecting this market sector andhas included a module on this subject inthe compulsory RMM course conducted in2012. The API has also conducted specificresidential valuation seminars in South EastQueensland in 2012. The API has advisedthese other Professional Associations of itsactivities and that it has met its undertakingsin this regard. The API has held discussionswith State Treasury and State Development inrelation to ongoing professional developmentand education of members who are active inthis market sector.• The mentoring program for our youngprofessional and student members wasintroduced in 2011 and continued in 2012and now into 2013. This program involvesa number of senior and junior members ofthe API throughout the state. The successof the 2013 program will be reviewed by theYPP Committee to ensure that this programcontinues to meet the needs of youngermembers.30
The Australian Property Institute Annual Report | 2012• A constant concern to members has beenthe lack of disclosure of GST within salestransactions in searchable State Governmentand other public records. An approachhas been made by the API together withrepresentatives of the Queensland StateValuation Service to the Queensland Officeof State Revenue (OSR) to request anamendment to relevant property sales transferdocuments in an attempt to identify GSTwithin all transactions. Continued discussionsand submissions are being made to theOSR, the State Valuation Service and theQueensland Law Society to progress thisissue in the public interest and to assistvaluers in the correct analysis of propertysales evidence. It is hoped that this may reachfinalisation in 2013 after more than 12 monthsof negotiations and discussions.• Three API members were elected to StateParliament at the 2012 elections. Thesemembers were Anne Maddern and SteveMinnikin on behalf of the LNP in the seatsof Maryborough and Chatsworth, and RobKatter on behalf of Katter’s Australia Party inthe seat of Mt Isa. We congratulate each ofthese API members on their election to StateParliament.31
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