Property Wages 'Doing Well' But Reflect An Economy In Transition: Avdiev

An independent report into remuneration across the property industry in Australia has revealed a generally positive picture across the eastern seaboard while rather subdued results elsewhere. The latest Avdiev Property Industry Remuneration Report March 2016, currently in its 30th Edition, is a product of a formal Australia wide survey of property, investment, construction employers and built environment related consulting companies.

According to the report's author, Rita Avdiev, the multispeed economy is back and business conditions in property vary from state to state – good in the East but progressively worse the further West one goes.

All market sectors reported positive results, and staff shortages, especially in development and design disciplines, are emerging. But there are also signs of tougher business conditions ahead, as some companies reported being worse off than the previous year. Forecast pay rises are expected to be at 3%, well above the 2% granted to the general workforce and 1.9% CPI rise. Retail Management and Real Estate Agency senior staff were the best performers with a 3.5% increase in pay, whereas the increase for Corporate Real Estate seniors was 2.5%, below their mid-level and junior team members.