In NSW, there is a noticeable shift towards permanent recruitment as a result of stronger confidence in the market. In particular demand due to a shortage of candidates are commercial property managers.
In South Australia, low interest rates and the repositioning of investor assets continue to underpin the unprecedented change in commercial property with some of Adelaide's largest assets being sold. This is seeing almost all of the major commercial agencies enter the high rise residential market. The issue however is the limited availability of experienced sales agents and as such we are seeing a trend of residential real estate agents moving into commercial agencies. Their challenge is finding tenants to occupy these new residential high-rises and this tension is causing many to leave the industry, increasing the demand for experienced and skilled property managers.Adelaide's state government policy drive away from Greenfield and single storey housing towards Brownfield or urban renewal development means the local market has limited skills and experience in the development of 2+ storey developments.
In Western Australia, residential agencies continue to face skill shortages and high levels of recruitment. There is continued demand for quality Property Managers within residential, almost exclusively on a permanent basis. This need is driven by reactive recruitment activity due to people moving into commercial or leaving the industry altogether. Sales remains a focus within agencies but licensees continue to resist introducing base salaries and offer commission only, resulting in very little candidate movement and limiting the ability for them to attain substantial growth.
In Queensland, functional roles are key for employers to have occupied, and as soon as someone leaves they are replaced. Specialised consultancies within professional quantity surveying or client-side project management are being squeezed by bigger firms and as such are struggling to retain business, forcing them to make some redundancies.
Hotspots of demand
In NSW, Project Managers are in high demand as we’re seeing many businesses spend on office refurbishments.
In South Australia, Residential Investment Sales Consultants are sought after too, especially those with experience in the sale of high-rise property.
Residential Property Managers are also in demand, particularly those who are highly experienced. The industry's high turnover and burn-out rate within 2-5 years remains a key factor behind the demand, as is the increased focus from agencies to build up this area of their business.
Commercial Property Managers with less than 5 years’ experience are required too. The low level of graduate in-takes year-on-year for the past few years is now creating a graduate-level candidate shortage compounded by a surge of retirements and market movements as a result of properties changing management.
Development Managers with medium to high-density experience in Adelaide are sought after. The government is pushing higher density developments in many areas where historically development has been Greenfields and low density.
In Queensland, we’re seeing demand for Commercial Leasing Executives as a result of low occupancy rates and businesses wanting the very best on board to try and fill their properties.
Body Corporate professionals are needed due to the increase in residential property being constructed. This is having a knock-on effect, and causing demand for Residential Property Managers as body corporates poach trained property managers.
Professional Quantity Surveyors who can bring their own work and client management skills are also sought after.
Due to emerging shortages as described above, candidates with experience in these areas are being snapped up by employers through online and social media channels as well as industry events.
Most candidates are motivated to make a move for a better work environment, management style or job prospects, not just the money.