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What's the Latest Prospects in the Melbourne Real Estate job market?

Melbourne is certainly the vibrant cultural capital of Australia (spoken of course, from a true fan of Melbourne!). It's also renowned for its real estate market, with diverse neighbourhoods, a steady population growth, and robust property investment landscape. The city has long held a plethora of opportunities for individuals seeking a career in real estate. We can absolutely confirm Melbourne's real estate job market is pumping!


Coming off the back of the centuries most turbulent 3 years (globally), Spire Recruitments team of specialist real estate recruiters regularly get asked what are the current job prospects in Melbourne's real estate market. Talking with property professionals day-in-day-out we feel there are 5 major contributors to a strong job market here in Melbourne.


1. Strong Demand for experienced Real Estate staff

The real estate market is cyclic; it has ups, it has downs. Sometimes the up's can be longer than the downs, or the other way around. Either way, real estate here is buoyant and there is always a good market - for someone. On a whole, the Melbourne real estate market continues to thrive, fuelled by our growing population, increased numbers (finally) in immigration and renewed property development, post covid. This surge creates a favourable environment for job seekers, as real estate agencies actively seek experienced staff to come in and 'hit the ground running'. This is especially so for property management. We also are seeing more people with no property experience securing roles, far more than 5-10 years ago.


2. Varied Roles and Specialisations:

The job prospects in Melbourne's real estate sector are not limited to a single role. Candidates can explore diverse career paths, from sales, cadets, property management, auctioneering, property analysts, project managers, owners corporation, accounts, administration and more. This variety allows individuals to choose roles that align with their strengths, interests, and desired specialisation. We are seeing more and more often people securing property roles who have come from outside the industry, bringing strong transferrable skills such as accountants, retails sales, those from banking and insurance, all common sectors desirable in the eyes of many agencies.


3. Ongoing Development Projects:

Melbourne's skyline is constantly evolving, with numerous development projects underway. These projects, ranging from residential to commercial and mixed-use properties, offer promising job opportunities. Professionals skilled in project management, property development, and urban planning are highly sought after to ensure the successful completion of these ventures and we are seeing salaries increasing rapidly in these areas.



4. The Thriving Rental Market/Housing shortage

Melbourne boasts a thriving rental market, with a growing portion of the population looking to rent rather than buy properties. As a result, property management roles are in extremely high demand and we have seen a huge shortage of property managers in recent times; this issue is not going away anytime soon! Changes in the Real Estate qualification in September 2021 has seen far fewer people complete the (legally required for sales/property management) Certificate 4 in Real Estate practice. As people exit out of real estate roles, the number of people working in the Melbourne market is, sadly diminishing.


5. Technology and Innovation:

The real estate industry in Melbourne embraces technology and innovation, opening doors for professionals with expertise in proptech, digital marketing, data analysis, and property software experience. These emerging fields present exciting job prospects for individuals keen on integrating technology into their real estate careers.


Conclusion:

For those seeking a rewarding career in real estate, Melbourne offers a wealth of job prospects. The city's robust property market, diverse roles, ongoing development projects, thriving rental market, and emphasis on technology and innovation make it an ideal destination for real estate professionals. By leveraging the opportunities available and honing their skills, candidates can carve a successful path in Melbourne's vibrant real estate industry. So, whether you're a seasoned professional or just starting your journey, now is an opportune time to explore the boundless potential that Melbourne's real estate market has to offer.

If you have any questions relating to the above or would like to know more about roles in real estate, give our team at Spire a call today. 03 9000 5617

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