Meeting Changing Industry Expectations From Australian Property Valuation Graduates

The valuation profession faces significant challenges as more valuation processes become automated, and the role of the valuer becomes more one of data handling than an economic analyst. To respond to industry needs, the role of the valuer must change. It follows that there is a need for universities to re-evaluate their existing property curricula, modifying content where necessary, to prepare their graduates better for a changing workforce. Employing a series of focus group discussions with valuation practitioners, this study examined specific industry expectations and provides recommendations to strategically align Australian property curricula with industry expectations in order to maintain the relevance of property education. The study identified personal, technical and business-related skills that are essential for graduates to possess. The roles of the professional bodies, industry/employers and educators to meet the changing demand on the profession are identified. Changes are required to degree programme content in respect of digital technologies and statistical skills. Whilst the universities offer a curriculum that adheres to the accreditation requirements of the professional bodies, there is also a need to incorporate specialised knowledge with set pathways. The need for students to have practical experience is apparent and undertaking placements with assessment that could be credited as part of the degree is recommended. The study highlights the need for a careful analysis of student learning experience to ensure that graduate skills meet the industry expectations, and that graduates themselves are able to adapt to future changes