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Property

July - September 2014

Hotspots

 

Property Managers - Residential Property Managers are sought in response to the high number of investors returning to the residential market. Given low interest rates and high demand from renters, this is set to continue. Those candidates who can manage large and diverse portfolios are in most demand. We are also seeing a need for Commercial Property Managers. But quality candidates in both residential and commercial are in short supply as the duties can be stressful and the wage minimal. Yet the role is becoming more important to real estate agents since a rent roll operated efficiently is a great platform from which to build their real estate business. In addition, candidates with REST systems experience are sought as many businesses now use this system.

 

Valuers – Both commercial and residential Valuers are in demand as property prices rise and sales activity grows. However this position is often seen as a stepping stone into a development company and thus turnover can be high. In addition the low pay, long hours and high level of travel turn off many candidates.

 

Commercial Leasing Executives – Candidates are sought in both the office and retail space in Adelaide, where vacancy rates are the highest they have been in a generation. Yet there is pressure from owners to increase rates as they require a low debt ratio. Thus it is very important to secure leases (preferably longer term) and ensure properties have an income stream. Commercial Leasing Executives are therefore in high demand to ensure the financial sustainability of assets.

 

Quantity Surveyors/Cost Planners – These candidates are sought to manage the costs of a project. Given the increasing number of commercial properties that require an upgrade or renovation in order to attract new tenants, but which have a tight project budget, this demand will remain.

 

Land Acquisition Managers/Development Managers - Outer metropolitan greenfield developments are becoming less attractive to investors given their distance from amenities. Consequently the demand for land in the inner metropolitan suburbs is increasing. This is creating a need for professionals who can locate and secure medium density infill sites.

 

Asset Managers - Budget pressures and the need to reduce debt and fund critical infrastructure projects has created demand for Asset Managers in the public sector. These candidates are needed to determine how governments can improve cash flow from their property assets and reduce ongoing maintenance costs.

 

Sales Consultants – Experienced residential and commercial Sales Consultants are needed. However they are in short supply since experienced Consultants who are performing well rarely move and give up their sales pipeline.  

 

Sales Cadets - Residential Sales Cadets are needed. While the availability of courses ensures there are a lot of qualified agents in the market, candidate quality can be low and it takes time to identify the top talent.

 

Assistant Development Managers – These professionals are not moving from their current roles, creating a shortage of available talent. The focus is on international investment.

 

Property Officers – There is a shortage of security cleared candidates for temporary contracts in the Federal Government.

 

Trends

 

Temporary assignments are the preferred hiring method across most of the country, with the Northern Territory the exception. In the Territory, employers prefer to secure candidates in a permanent role.

 

Within development, the main trend is the high demand for Assistant Development Managers and Project Managers for acquisition roles. This is the result of international investment.

 

Meanwhile in residential real estate we are seeing a reduction in the number of experienced property managers on the market. As a result portfolios are being distributed between current staff and portfolio sizes are naturally increasing.  

 

Within sales there are a large number of inexperienced candidates looking for their first role. Current courses make qualifications easier to obtain, which is resulting in more agencies relying on recruitment to identify the top talent.

 

Within government the permanent recruitment freeze has seen the number of temporary or short-term contracts increase in order to reduce workloads. 

 

Another key trend is the aging workforce. A large number of professionals will retire in the next 10 years, but there has been virtually no employment of graduates over the past three years. Thus we are facing a deepening skills shortage.

 

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