Real Estate Agents in Australia March 2012â€ƒâ€‚ 11
Industry Life Cycle This
industry is Mature
This is a mature industry. In the long term, industry growth is closely aligned with overall economic, social and demographic trends. The cost and availability of housing credit for both owner-occupiers and investors affects industry growth. Industry activity is mainly influenced by economic activity, access to debt funding and interest rates. Underlying demand is influenced by household formation and population growth. Demand is also influenced by levels of home ownership. There is often limited ability to add value to traditional services, although some real estate agency firms have diversified into advisory, finance, conveyancing and facilities management
activities. There was some consolidation of businesses under franchise banners, especially from 2000-01 to 2003-04. Most services have essentially remained the same over a long period of time. Outsourcing of corporate real estate activities is providing a niche growth market. Outsourcing of professional real estate services on a global level has increased substantially in the past five years as corporations have focused resources and capital on their core competencies. Public and other noncorporate users of real estate, such as government agencies and health and educational institutions, have begun outsourcing real estate activities as a means of reducing costs.
Published on Sep 25, 2012