2021 was going to be the year that saved us. We just didn’t anticipate ongoing lockdowns across Australia’s major population centres! However, there’s good news for the nation’s real estate market and recruitment within it. It looks set to continue its surge for the rest of the year and well into 2022.
According to recent statistics, our capital cities are in line for strong double-digit property price growth in 2021, with more forecast for next year. And that’s despite NSW and Victorian Covid restrictions.
The property market surges ahead
So, what is happening in the markets? Drawing on CoreLogic statistics released in September this year, Michael Yardney’s Property Update sums up key changes over the last 12 months.
- Sydney property prices have risen by 20.9%, Melbourne by 13.1%, Brisbane by 18.3% and Hobart by 24.5%.
- Regional NSW prices have increased by 24.8%, regional Victoria by 20.3%, regional Queensland by 20.8% and regional Tasmania by 26.1%.
Meanwhile, Australia’s Big Four banks have revised their property forecasts upwards, due to the industry’s resilience.
Investors are also back in the property market. The RBA predicts the investment sector will remain buoyant well into 2022, due to a post-lockdown rebound.
What is influencing hot jobs?
According to LinkedIn’s Jobs on the Rise in 2021 report, a couple of factors are influencing hot jobs in the Australian real estate market.
- Historically low interest rates continue to make property an attractive investment.
- The pandemic-inspired shift to remote working has encouraged more people to seek affordable housing in regional areas, beyond the big cities.
While we are seeing a growing number of real estate deals across Australia, the property jobs market is responding accordingly. LinkedIn figures show the major growth in this sector jobs in Perth, Sydney and Melbourne.
What roles are in demand?
Okay, so things are looking good for real estate and property. But what kind of industry roles are heading the growth list? What hot jobs are worth mentioning?
As more consumers and investors buy property, mortgage broking services are in big demand.
Real estate specialist
Expansion is forecast in a variety of specialist areas. These include facility planning, overseeing property management operations, negotiating contracts, conducting research and handling lease transactions.
New home sales specialist
While new home purchases are down in 2021, due to pandemic impacts, a rebound is predicted for 2022. This will require candidates with expertise in selling and marketing new homes, as the sector begins to expand again.
Real estate agent
Real estate agents will need across-the-board skills in selling, leasing and negotiating. Property management specialists are also sought after, with higher demand noted in low-density living which offers more space.
What skills will be needed?
LinkedIn research reflects the above areas of growth, with key in-demand skills including mortgage lending, new home sales, residential real estate, investment properties and real estate transactions.
Build Australia also reports four distinct areas of skills growth in the Australian real estate and property sector in 2021.
- Sales agents, with high-level negotiation skills across the residential and industrial spectrum. There is also a shortage of residential listing agents.
- Investment analysts, with high levels of competence in financial modelling, feasibilities and due diligence.
- Investment managers, to help owners and investors understand both the short and long-term impacts of the Covid pandemic on their existing portfolios. They are also required to manage new acquisitions and developments.
- Industrial property experts, due to surging demand for industrial property across Australia. CBRE figures show national industrial vacancy rates at an all-time low. The massive growth in pandemic-inspired e-commerce has also increased demand for warehouse and logistics space.
Looking to fill your vacancies? Or thinking about career development and considering some hot jobs? Gough Recruitment specialises in Real Estate and Property sectors and we are always happy to talk with businesses and candidates about their recruitment needs.