Industry Analysis & Industry Trends
Real estate agents have not had much time to catch a breath over the past five years, largely due to trends in the residential property market. Despite turbulent economic conditions, housing prices rose, supported by government incentives at the beginning of the period and then fuelled by decreasing interest rates. This has been more than enough to offset pressures on sales commissions. In contrast, the commercial property market has been flat due to volatile business confidence and subdued economic conditions. Overall, industry revenue is forecast to increase at an annualised 2.0% over the five years through 2015-16, to reach $10.2 billion. In 2015-16, industry revenue is forecast to grow by 2.6%.
Competition within the industry remains fierce... purchase to read more
Industry Report - Industry Analysis Chapter
Real estate agencies have been working hard over the past five years. Numerous factors have created a dynamic environment in which change has been necessary to stay afloat. Rising activity in the residential market, subdued activity in the commercial real estate market, pressure on commission rates and the growing importance of property management as a revenue stream have all been key factors. Overall, the past five years have been more positive than negative for the industry. Revenue is forecast to grow at an annualised 2.0% over the five years through 2015-16, to reach $10.2 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... purchase to read more