The property industry is expected to enjoy robust jobs growth throughout the remainder of the year, as urban areas expand and baby boomers bid farewell to the workforce.
The latest research from recruitment firm Hays Property forecasts sustained growth in employment demand for the Australian property sector throughout the remainder of 2014, driven by a population boom in certain urban centres, continued gains in housing prices, as well as the departure of ageing members of the workforce.
The Hays Quarterly Report for April – May 2014 said that jobs growth would be greatest in key urban areas undergoing rapid population expansion, including Perth, Western Sydney, Darwin and south-eastern Queensland. The expansion of the property sectors of these fast-growing areas will create a swathe of new permanent positions.
The ageing of the property sector’s workforce will serve as another key driver of employment growth in the industry, as baby boomers enter retirement and create a skills shortage as well as widespread jobs vacancies.
Poor work conditions are also cited as a pivotal factor behind the scarcity of professionals willing to to fill certain critical yet challenging roles in the sector.
Commercial and residential valuers are expected to be amongst the most highly coveted professionals in the property industry, as valuation work increases, yet poor commissions, heightened liability levels and long work days drive away qualified personnel.
Residential property managers are similarly in short supply due to long hours, relatively low remuneration levels, and the difficulty of dealing with troublesome tenants. Demand will be particularly acute for mid-range candidates with several years of experience, who are willing to accept salaries in the $55,000 to $65,000 range.
Demand for quantity surveyors is also on the increase as a result of personnel forgoing the role in favour of estimating work, which provides higher levels of remuneration.
Other professionals expected to be in hot demand include leasing executives – particularly those candidates who possess local knowledge and contacts; and both residential and commercial sales executives, with a focus on experience and current connections.