The number of persons employed in the real estate sector in Australia has shown fluctuations between 2013 and 2023, with an overall upward trend. Starting from 157.06 thousand in 2013, it reached 181.01 thousand in 2023. There were significant variations, such as a high year-on-year increase of 7.08% in 2014 and a sharp decline of -4.32% in 2018. For the most recent years, including 2022 and 2023, the growth stabilized with milder variations of 1.15% and 1.12%, respectively.
The compound annual growth rate (CAGR) over the last five years was modest at 1.56%. Future projections indicate continued growth, with employment reaching 190.41 thousand by 2028, and a forecasted 5-year CAGR of 0.8%.
Future trends to watch for include the impact of technological advancements in real estate, potential legislative changes affecting property markets, and economic factors such as interest rates and housing affordability that could influence employment levels.
