The labour costs in the real estate sector in Australia were valued at 16.83 billion Australian Dollars in 2023. Based on the forecasted data, the values are expected to reach 17.21 billion in 2024, 17.61 billion in 2025, 18.0 billion in 2026, 18.39 billion in 2027, and 18.77 billion in 2028. The year-on-year increases are 2.26% from 2023 to 2024, 2.32% from 2024 to 2025, 2.21% from 2025 to 2026, 2.17% from 2026 to 2027, and 2.07% from 2027 to 2028. The compound annual growth rate (CAGR) from 2023 to 2028 is approximately 2.21%.
Future trends to watch for include potential shifts in government policy affecting labour markets, technological advancements that could either drive costs down through efficiency or push them up due to the need for specialized skills, and economic conditions affecting overall investment in the real estate sector.
