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Are agents the real victims of falling property prices?

Are agents the real victims of falling property prices?
July 25, 2018 REALas Team
Agents are the real victims of falling property prices

Record fines for underquoting in the start of the year and the steady decline of the property market have not made 2018 an easy year for agents. To make matters worse, jobs in Real Estate are now starting to follow the same downward trend as the property prices.

Data published by SEEK recently show new listings on the job board for Real Estate roles have been on the downward trend since September 2017. Postings have been dropping steadily since hitting their peak in 2016. This trend looks familiar!

Decline across Australia

Four states have seen an average decline in 13% year on year:

  • New South Wales: -10%
  • Victoria: -11%
  • Western Australia: -22%
  • Queensland: -24%

Residential Sales jobs (e.g. Agent) make up one fifth of all jobs ads in this sector. Commenting on this, Kendra Banks, Managing Director ANZ, SEEK, said: “The fall in new home dwelling sales across the major cities has directly impacted the demand for residential property sales roles, which makes up one fifth of all job ads in the Real Estate & Property sector – the balance comprising from Property Management, Residential Leasing and Administration roles”

Property sales job ads decline