Residential Valuers – There is a shortage of certified practising Valuers in the current market due to rapid growth in the residential property arena. This is prevalent in financial institutions, agencies and specialist valuation businesses. There is particularly high demand for Valuers willing to work in regional areas.
Property Managers – There is a shortage of Property Managers in the residential sector and high quality, experienced candidates are challenging to find.
Overseas development expertise – An interest in international candidates has made its way into the Perth development market due to the diversity these candidates bring with them. The lack of built form experience within the Western Australian candidate pool has led to interest in candidates with the required skill sets from the United Kingdom and South Africa.
Qualified and experienced Residential Development Managers, Property Managers, Valuers and Sales Executives will remain highly sought after as investors around the country continue to take advantage of the favourable investment conditions.
Record low interest rates and competition from the major banks has eased lending criteria which in turn has seen an increase in developer activity for new broad acre and infill housing stock, as well as decreasing clearance rates on existing properties. The end result for the employment market is a rush for experienced candidates who can value, develop, sell and manage all these properties.
Generally, candidate levels are stable in the commercial property sector and most commercial agencies are still seeking permanent staff rather than contract alternatives. Increased sentiment in commercial property in the vital Sydney & Melbourne CBD markets will counteract tougher conditions in those affected by the resource led economies.
Early this year we expect new jobs to be created in the apartment development sector in states where population growth is strong and retail centre management and leasing will improve on the back of some stronger than expected Christmas results for most of the major retailers.