Industry Analysis & Industry Trends
Real estate agents did not have much time to catch a breath over the past five years, as the residential property market performed exceptionally well. Supported by government incentives at the beginning of the period and then fuelled by decreasing interest rates, housing prices rose, despite turbulent economic conditions. This was more than enough to offset pressures on sales commissions. The commercial property market was more flat. This was caused by volatile business confidence and subdued economic conditions. Overall, industry revenue is forecast to increase at an annualised 1.2% over the five years through 2014-15 to reach $10.7 billion. In 2014-15, industry revenue is forecast to grow by 2.7%.
Within the industry, competition remains fierce... purchase to read more
Industry Report - Industry Locations Chapter
The majority of real estate agent enterprises in Australia are located in the eastern states. Outside of New South Wales, Victoria and Queensland, the remaining states and territories account for less than 20.0% of total enterprises. This breakdown has remained relatively consistent over the past five years. A significant proportion of residential investment during the past decade has been allocated towards holiday home purchases and renting, which has increased residential demand in Queensland. The resource boom over the past five years has resulted in substantial rises in demand for both commercial and residential real estate in Western Australia, leading to a larger presence of the Real Estate Services industry in the state. Mid-sized businesses dominate all states... purchase to read more