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New data shows that the cooling market is influencing new employment opportunities in the real estate industry.
Data from SEEK has shown that there has been a 13 per cent drop in total job ads year-on-year and the number has been trending downwards since September last year.
The hardest-hit areas for real estate and property jobs were Western Australia and Queensland with a 22 per cent and 24 per cent drop, respectively, while New South Wales and Victoria had a drop of 10 per cent and 11 per cent, respectively.
Kendra Banks, managing director of ANZ, said that the fall in house sales had had an impact on job ads throughout the country’s capitals.
“The fall in new home dwelling sales across the major cities has directly impacted the demand for residential property sales roles, which makes up one-fifth of all job ads in the real estate and property sector,” Ms Banks said.
For specific residential sales roles, the hardest-hit was WA with a 29 per cent drop year-on-year and a 48 per cent drop since 2012, with NSW only experiencing a 3 per cent drop in residential sales roles.
However, SEEK’s data showed that the overall 13 per cent drop masked growing employment opportunities in regional New South Wales and Victoria.
In New South Wales, regional job ads are up by 5 per cent year-on-year, while in Victoria that number is 22 per cent.
Ms Banks said that there were several factors at play as to why these regions would be having upward trajectory.
“It’s really interesting to see that it’s the smaller towns and cities rather than the metro cities leading the increase in residential sales roles,” the MD said.
Ms Banks said that the upward trend is supported by data from CoreLogic that has shown an increase in regional sales.
“This sentiment is supported by data from CoreLogic showing that regional Victoria recorded the highest rate of capital gain over the June quarter, with Geelong and Ballarat regularly topping the list for regions with the strongest growth,” the MD said.
The SEEK data also matches a recent study conducted by TAFE NSW which showed that real estate would be a growing employment area over the next three years.
The TAFE NSW research said that the number of real estate agents in Western NSW was forecast to increase by 10.2 per cent, compared to just an 8 per cent increase in NSW.
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