Hiring activity within the property industry is expected to gain momentum over the next 12 months as demand continues to grow, according to a new report.
The <i>2015/16 Michael Page Australia Salary and Employment Outlook</i> found almost half (46%) of property employers are planning to increase headcount in the next 12 months, 48% of property employers rate the current national economy as ‘fair’, 35% rate it as ‘good’, while 40% rate the overall confidence in their industry as ‘good’ and 15% rate it as ‘very good’.
The results suggest that positive economic sentiment combined with rising industry confidence is increasing the demand for property professionals in Australia.
Other key findings include:
- 60% of employers state that mid-level professionals are the highest in demand, followed by 19% stating management-level professionals
- Development managers, property and asset managers, and project managers are currently the main property professionals in high demand
- 66% are using recognition and rewards initiatives in order to retain their top performers, while 75% of employers will be rewarding their staff with a salary increase
- 74% of employers are promoting a strong company culture in order to attract talent, while 62% are using the same strategy in order to retain talent
“While hiring previously has been volatile in the property sector, activity is expected to gain momentum over the next 12 months,” says Joe Vize, director of engineering, manufacturing, supply chain and property with Michael Page Australia.
“This is in line with the rising demand for property projects and increasing business confidence, with hiring activity currently strongest in the areas of residential apartments, education, healthcare and aviation.”
NSW is currently experiencing the highest positive sentiment due to investments from global corporations, local and state government, plus more job opportunities in NSW real estate institutions, according to Vize.
“Salaries have remained consistent in the last 12 months and we expect the demand for property professionals to remain strong in the next 12 months.
“With demand being high for experience in the residential development sector, specifically related to high rise apartment developments, we expect salaries in this area to increase directly in relation to demand,” says Vize.