According to the latest research from Australian company Gough Recruitment, salaries within the real estate, property and construction sectors in Australian rose on average by 12 per cent in the last 12 months.
The survey identified the seven most common senior positions, including Asset Manager, Commercial Property Manager, Retail Property Operations Manager, Real Estate Strata Manager, Regional Centre Manager, Building Manager and Retail Property Manager. It compared salaries in these positions over the past 12 months across New South Wales, Victoria, Queensland and Western Australia.
Asset Managers led the way with a 16.7 percent increase, Retail Property Operations Managers recorded a 14.3 percent increase, Real Estate Strata Managers were up 13.3 percent, Regional Centre Managers were up 12.5 percent, Retail Property Managers recorded 11.7 percent rises, Commercial Property Managers recorded 11 percent increases while Building Managers were up 7.7 percent.
Joel Barbuto, Chief Executive Officer of Gough Recruitment, said: “We were not surprised by the findings. The real estate and property markets have been very buoyant in recent times, particularly along the Eastern seaboard. The candidate market is tight and demand to fill the positions is increasing.
“In the past financial year, we have experienced a 20 percent increase in job placement numbers. We are noticing that candidates are choosing to move either interstate or overseas for job promotions. Most are finding they need to move to obtain a significant pay increase. Currently candidates are struggling to receive a 5 percent rise at performance review time in their current work environment.”
He added: “We expect strong growth in the Sydney and Melbourne property markets to continue for another two years. Brisbane is showing signs of increasing its activity, while Western Australia is lagging behind in the growth stakes.
“Candidates for employment are in the driver’s seat at present. They are focused on four key criteria before making a job decision. These are culture, brand, opportunities for career progression and salary offering.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
