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 Key Buyers Chapter
IBISWorld estimates that the four largest operators account for 17.0% of industry revenue, indicating a low level of market share concentration. According to the ABS, businesses that make over $2.0 million only account for 5.0% of the industry. The largest companies have the strongest presence in smaller markets (most notably, the Northern Territory and the Australian Capital Territory), since they are competing with much smaller operations in these states. Industry operators are predominantly self-employed and localised firms, although a number participate in national franchise systems. A significant proportion of national players operate in the commercial and rural segments... purchase to read more