Hays Property - October 2008

Hotspots

Analytical candidates will become key areas of demand this quarter as end-users (retailers and developers) seek information from property strategists to make sound investment decisions.

Meanwhile experienced valuers with exposure to high value institutional property remain a hotspot, with demand highest at present for those at the entry to mid levels. The need for entry to mid level candidates is also evident in the property management discipline, in both the residential and commercial sectors.

Generally, the shortage of candidates is strongest at the entry and graduate level within Australia's property market.

The coming quarter

Given today's global economic conditions, it is reassuring that the requirement for properties to be managed is a constant one, and this creates a certain level of underpinning support and buoyancy for the property market. There will always be a certain level of demand for staff, since property needs to be facilitated. In general, the temporary market is remaining particularly strong as employers utilise short-term staffing solutions while currently restructuring the needs of internal and external clients. Employers are also seeking to maximise their revenue by recruiting candidates with established businesses or who can grow market share, so if you are looking for a new role demonstrate your capacity in these areas in interview.

Executive recruitment

Corporate restructures have led to a number of excellent executive candidates in the market. As previously stated, demand is highest at the entry and mid levels at present, and certainly far more active than at the executive level.

Salaries

Salaries should remain constant across the property market, with no significant changes expected this quarter.

Candidate trends

With many annual bonuses falling short of candidate expectations, there has been an increase in candidates registering their interest in new roles. However this trend of lower bonuses has occurred across the market at a whole, not for particular segments, so changing roles is not necessarily the answer.

There has been a definite increase in candidate levels in the development sector. The volume of experienced valuers has also increased, although these candidates typically come from small or sole trader status and lack the exposure required by the larger institutions where vacancies exist.