According to the latest survey reports, in 2006, the house prices rose all over across Australia, starting from 0.6% increase witnessed at Sydney and 38.7% in Perth. However, in the current year this rise is expected to be limited because there is a falling demand for property in all major cities despite the considerable population growth in these cities. However, places like Darwin and Perth are expected to witness a steep rise in the property and real estate market because of the influx of people and low rate of unemployment in these cities. In general, the demand rate in all major Australian cities is outstripping the supply because the average vacancy rate is 1.7%.
The rental real estate market had witnessed a hike of 9.8% till September 2006 and this figure is expected to increase even further in the coming days. The commercial property and real estate market of Australia is experiencing a shortage of vacancy rates in the last two years and this is likely to be continued even in 2007. The commercial property market is expected to remain rising even in 2007, which shows the growth of annual GDP. According to the surveys, Adelaide has witnessed a growth of 21.9%, Darwin 14.2 %, Perth 8.6%, Brisbane 15.7% and Sydney 4.7%. At present, the median house price in Australia is $459,402 and median unit price is $365,322. Sydney and Perth are the most costly cities in terms of median house prices. This survey proves that the property and real estate market in Australia is experiencing a never-before like booming period.
As a result of this growth in the property and real estate market of Australia there are a variety of job options for interested candidates. Some of the available job sectors in the property and real estate market are:
- Accounting and Bookkeeping jobs
- Leasing jobs
- Management jobs
- Administration jobs
- Asset Management jobs
- Other Property and Real Estate jobs
- Property Management - Commercial jobs
- Maintenance jobs
- Sales - Residential jobs
- Valuation jobs
- Property Management - Residential jobs
- Property and Land Analyst jobs
- Sales - Commercial jobs
The pay scale of the property and real estate professionals depends entirely on their years of experience and ability to convince people for buying or selling their property.
The property and real estate market is a flourishing and lucrative sector in the Australian economy that draws a huge amount of profit both for the agents and the government.