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 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 was 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 a 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. Declining interest rates over the past five years and various government incentives to boost demand for residential housing were the prime reasons for revenue growth... purchase to read more