Property industry salaries rising: Avdiev

Property industry salary rises are creeping up, according to the findings in the Avdiev Property Industry Remuneration Report 2015 October update.

Salary rises vary across market sectors and seniority of staff, it found.

Real estate agency senior staff and built environment consultant mid- level staff and juniors were the major recipients. 

Senior employees have been the beneficiaries of the usual full pay increases granted in the last reviews, most other levels of staff have enjoyed a 3% pay rise with the notable exception of the retirement living/aged care market sector, where only junior staff were given a 3% pay increase.

The median annual pay rise of 3% across all property, investment and construction markets and the built environment consultants has not varied since last year.

Predictions for next year continue at 3% overall, but property development higher for all levels.

Short term and long term incentives have remained unchanged for majority of senior staff and forecast to remain the same for 2016.

The authoritative 29th report found 71% of responding companies were happy with their recent business performance.

“Business and consumer confidence have improved recently” said Rita Avdiev, Managing Director of The Avdiev Group, remuneration consultants. 

“This is particularly evident in NSW where the whole property and built environment consulting industry is buzzing in every market sector.”

The latest Avdiev Remuneration Report October Update, the product of a formal Australia wide survey of property, investment, construction employers and built environment related consulting companies, finds that business conditions have improved for 52% of respondents and remained stable for 41%.

Only 7% reported a drop in company performance from 12 months ago.