Senior property development managers, especially in New South Wales, as well as builders and property consultants including architects and project managers are in strong demand and are pulling in significant increases in remuneration, a new survey has found.
In a new report, HR research and remuneration consulting services outfit Avdiev said that overall, median salaries across the sector were rising at a respectable but modest rate of around three per cent per annum.
Nevertheless, professionals across a number of specific disciplines were in short supply and pulling in large pay rises, Avdiev managing director Rita Avdiev said.
Amongst these, senior property development managers were leading the way, taking home increases of between 10 and 20 per cent.
Designers and architects were also pulling in strong rises amid buoyant demand for their services as were property consultants and construction staff.
“Despite the fact that there is (only) a three per cent median increase across the property industry overall, there are big spikes within various market sectors,” Avdiev said.
“What’s more interesting is that the forecasts are showing that they (employers) are thinking seriously about keeping them (staff in aforementioned disciplines) and giving them big increases in the following year as well. Normally forecasts are very very conservative.”
The survey follows a string of positive reports surrounding the current state of the employment market within the sector, especially in New South Wales.
In a Property Council of Australia Property Industry Confidence survey released in January, for instance, participants across every state indicated that they expected staffing levels to be higher in 12 months compared with current levels.
In its most recent quarterly report, meanwhile, recruitment outfit Hays indicated that demand across eastern states was red hot across property, design and building.
The Avdiev report comes amid strong readings of business conditions throughout the sector, especially in eastern states.
No business that contributed salary data to the Avdiev report reported doing badly in terms of current operating conditions, and almost seven in 10 reported doing either well or very well.
Around Australia, conditions throughout the property industry are strong as high levels of investment pour into residential and infrastructure projects.
This is especially the case in Sydney, where massive amounts of money are going into the construction of new apartment towers as well as a number of multi-billion dollar road and rail projects.
In terms of what candidates were seeking, Avdiev says a strong and supportive culture is paramount, whilst opportunities for career advancement and professional development and flexible working conditions are also of huge import.
Workers also needed to see a pipeline of projects upon which to base a sense of confidence surrounding their ongoing employment prospects.
“Times are good at the moment,” Avdiev said, speaking about the need to adopt the practice of open communication surrounding the firm’s ongoing direction. “But that’s a good policy to have in good and bad times.”