Industry Analysis & Industry Trends
Real estate agents have not had much time to catch a breath over the past five years, as the residential property market performed exceptionally well. 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. The commercial property market has been more flat. This has been 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%.
Competition remains fierce within the industry... purchase to read more
Industry Report - Industry Analysis Chapter
Real estate agencies have been working hard over the past five years. A mix of factors has made for a dynamic environment, where change has been necessary in order 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 to the revenue stream were just some such factors. Overall, the past five years have been more positive for the industry than negative. Industry revenue is forecast to grow at an annualised 1.2% to reach $10.7 billion in 2014-15. Declining interest rates over the past five years and various government incentives to boost demand for residential housing have been the prime reasons for revenue growth... purchase to read more