The valuation profession in Australia: Profile, analysis and future directions

Like many professions and industries the valuation profession is experiencing a more competitive environment. There is a need to establish where the valuation profession is going and, by definition, where it is now, for strategic planning purposes at both the professional and corporate level. This paper analyses the issues facing the profession in Australia and uses Michael Porter's conceptual framework of 'How Competitive Forces Shape Strategy' to better understand these issues and the direction the industry might take to succeed in an uncertain world. It is suggested that such an analysis could assist the strategic planning of major industry groups including API, RICS, as well as providing a basis for the Universities to consider the needs of the profession in the future