Industry Analysis & Industry Trends
Real estate agents have reaped the benefits of a booming residential property market over the past five years. Despite turbulent economic conditions, housing prices have grown strongly, supported by government incentives at the beginning of the period and then fuelled by decreasing interest rates. In contrast, the commercial property market has performed modestly due to volatile business confidence and subdued economic conditions. Industry revenue is forecast to increase at an annualised 3.4% over the five years through 2016-17, to reach $13.8 billion. Industry revenue is expected to contract by 2.4% in 2016-17, with an anticipated slump in residential housing prices and reduced housing transfers likely to decrease industry activity and earnings... purchase to read more
Industry Report - Industry Analysis Chapter
Real estate agencies have been working hard over the past five years. Rising activity in the residential market has contrasted with subdued activity in the commercial real estate market. Overall, the past five years have been more positive than negative for the industry. Revenue is expected to grow at an annualised 3.4% over the five years through 2016-17, to $13.8 billion. Declining interest rates over the past five years and various government incentives to boost demand for residential housing have been the prime drivers of revenue growth. The trend of baby boomers downsizing has benefited the sales and property management segments within the industry.
Residential property prices have grown strongly over the past five years... purchase to read more