The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
A one-day deep dive on office, retail, healthcare, childcare and alternative sectors
UPCOMING | COMMERCIAL REAL ESTATE SUMMIT
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
GovernmentMon 29 Jan 18

Property Sector the Nation’s Biggest Employer

TUD+ MEMBER CONTENT
1c531464-bf29-4077-aa52-761c7e8169e5
SHARE
print
Print

Australia’s property industry has overtaken the health care and social assistance industries to become the country’s biggest job creator.

The revelation was shared by a recent report developed by AEC Group, which revealed that than 1.4 million people were employed into the industry, growing at a rate of 22 per cent from 2013-14 to 2015-16.

The figures come despite signs that Australia’s housing market is transitioning towards weaker market conditions, indicating that the economy is still benefitting from the property boom.

Creating more than 390,000 jobs, AEC’s analysis shows that property has extended its lead as the biggest direct contributor to the nation’s GDP, totalling $202.9 billion in 2015-16, an increase of $20.4 billion since 2013-14.

Property Council chief executive Ken Morrison said the numbers involved white-collar and blue-collar jobs, from high finance to skilled trades, and from construction to property managers.

[Related reading: Australia Ranked Third Least Affordable Housing Market Globally]

“This data highlights the interlinked benefits of a strong property industry – construction activity not only helps boost supply and take the pressure off house prices, it also creates jobs for over 1.4 million Australians," Morrison said.

“Our industry creates assets which are important for every community and helps shape our cities for the future.”

The property industry contributes some $87.9 billion annually in combined Australian, state, territory and local government tax revenues, an increase of $15.8 billion over the same period.

Morrison urged governments to be careful not to overtax the industry, as the research revealed one in four Australians whose wages were reliant on the property industry.

State by state, property is the biggest contributor in almost every economy, accounting for 12.4 per cent in VIC, 10.8 per cent in SA, 12.7 per cent in NSW and 14.2 per cent in QLD.

OtherAustraliaResearch
ADVERTISEMENT
TOP STORIES
Gelephu Mindfulness City: Bhutan how a city of the future is planned
Exclusive

Bhutan’s Mindfulness Masterplan Resetting How Cities Work

Renee McKeown
8 Min
Long Bay Correctional hero
Exclusive

Time to Rethink: Fresh Bid to Unlock Prison’s Prime Site for Homes

Clare Burnett
7 Min
Inside NSW Housing Divide-Mosman
Exclusive

‘The Machinery Underneath is Broken’: Inside NSW’s Housing Divide

Vanessa Croll
9 Min
Exclusive

Queensland Decade of Gigaprojects a Developer’s Goldmine

Phil Bartsch
5 Min
Multiplex Moderna facility
Exclusive

Industrial Subsectors Win Investor Attention as Demand Blossoms

Clare Burnett
7 Min
View All >
An artist's impression of the proposed Harbour Esplanade development in Docklands HERO
Development

AFL, State Court Developers for Waterfront Docklands Project

Leon Della Bosca
Residential

Queensland Apartment Pipeline Hits Historic Low

Taryn Paris
Gelephu Mindfulness City: Bhutan how a city of the future is planned
Exclusive

Bhutan’s Mindfulness Masterplan Resetting How Cities Work

Renee McKeown
Tradition and innovation are being blended in the Buddhist nation to create a city that could point the way to a better …
LATEST
An artist's impression of the proposed Harbour Esplanade development in Docklands HERO
Development

AFL, State Court Developers for Waterfront Docklands Project

Leon Della Bosca
3 Min
Residential

Queensland Apartment Pipeline Hits Historic Low

Taryn Paris
4 Min
Gelephu Mindfulness City: Bhutan how a city of the future is planned
Exclusive

Bhutan’s Mindfulness Masterplan Resetting How Cities Work

Renee McKeown
8 Min
Finance

The Risk Developers Keep Ignoring Until Too Late

Partner Content
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/property-sector-the-nations-biggest-employer-