Industry Analysis & Industry Trends
Real estate agents have reaped the benefits of a booming residential property market over the past five years. Despite turbulent economic conditions, housing prices have grown strongly, supported by government incentives at the beginning of the period and then fuelled by decreasing interest rates. 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 3.4% over the five years through 2015-16, to reach $14.0 billion. In 2015-16, industry revenue is projected to grow by 3.6%, due to forecast residential property price growth, which will improve agent earnings per property sold.
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. Rising activity in the residential market has contrasted with subdued activity in the commercial real estate market. Overall, the past five years have been more positive than negative for the industry. Revenue is forecast to grow at an annualised 3.4% over the five years through 2015-16, to reach $14.0 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. According to the ABS, the number of new house finance commitments increased from 210,095 in 2010-11 to an estimated 619,000 in 2014-15 (latest data available)... purchase to read more