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 SWOT Analysis Chapter
Real estate services industry is in the mature stage of its life cycle. Over the 10-year period through 2019-20, industry value added is forecast to increase at an annualised 0.3%. This is lower than forecast annualised GDP growth of 2.7% over the same period.
In the long term, industry growth is closely aligned with overall economic, social and demographic trends. The cost and availability of housing credit for both owner-occupiers and investors affects industry growth. Industry activity is mainly influenced by economic activity, access to debt funding and interest rates. Underlying demand is influenced by household formation and population growth... purchase to read more