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USC professor to lead property group
The University of the Sunshine Coast will benefit along with almost 1,700 professionals in Queensland’s property industry after the appointment of USC Professor Mike Hefferan to an influential role.
The USC Pro Vice-Chancellor (Regional Engagement) has become the first academic to be elected as state president of the Australian Property Institute.
The API has about 8,600 members nationally, mostly from private practice. They include property valuers of various types, property advisers, analysts, lawyers, developers, fund managers, bankers and accountants.
Professor Hefferan, an economist and registered urban and rural valuer who heads the University’s Property and Development courses, said he was delighted to be appointed after many years as an API member.
“The institute has a responsibility to the community to make sure professional standards are upheld through codes of conduct and the accreditation of education courses, for example,” he said.
“Much of the commercial world runs on the assessment of property, from mortgage valuations to government resumptions to litigation matters.
“So it must be done right to give confidence to the financial sector which relies heavily on property as a main form of collateral for loans.”
Professor Hefferan, who has been on the API’s National Education Board for five years, said USC had one of 14 accredited property economics courses available in Australia.
“USC’s involvement in statewide industry matters will increase with my new role, raising both our profile and research potential,” he said.
“Our students will benefit from the availability of leading-edge information as these professions face significant legislative and technological changes.”
Professor Hefferan said USC with its research partners had just sent a major report to the State Government which would result in the rewriting of the Valuation of Land Act 1944 following controversy about the methodology of commercial property valuations.
He expected the ageing workforce and the prospect of deregulation would be hot topics for the API during his year as Queensland president.
“Valuation is the primary qualification for property professionals but the sector offers a broad range of career options,” he said.
“That’s why, through USC and API, we’ll be working to encourage young people to learn about these professions.”
Professor Hefferan said the University’s Bachelor of Property Economics and Development, introduced this year, aimed to equip graduates with a wide range of skills.
He said the course was already popular and helping both school leavers and mature-aged students get good jobs.
– Julie Gatehouse