$28.0bn
$X.Xbn
142k
41,360
$XX.Xbn
The Real Estate Services industry has faced turbulent conditions in the past few years, amid volatile movements in the cash rate and widespread upheaval in commercial leasing during the pandemic. A surge in inflation in the wake of the pandemic has resulted in the RBA engaging in the fastest hiking cycle in its history. This followed over a decade of very low interest rates that drove heavy investment in Australia’s property market, driving consistently strong growth in commercial and residential property prices. In 2019-20 and 2020-21, interest rates fell to record lows, which resulted in an unprecedented surge in median house prices and significant growth in real estate commissions. This trend has underpinned strong growth in industry-wide profit margins since 2019-20.
Industry revenue has declined at a CAGR of 1.9 % over the past five years, to reach an estimated $28.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Ray White | 1,037.2 | |
Jones Lang LaSalle | 897.1 | |
CBRE | 869.1 |
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Industry revenue is measured across several distinct product and services lines, including Property sales, Property management and Property leasing. Property sales is the largest segment of the Real Estate Services in Australia.
Climbing housing prices have elevated revenue from property sales
Real estate services providers mainly appraise, purchase, sell (by auction or private treaty), manage or rent residential property, commercial property or a combination of the two.
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ANZSIC 6720 - Real Estate Services in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Work-from-home measures during the pandemic dampened revenue. Some businesses cut down on their office space to reduce their rent costs.
Learn about an industry's products and services, markets and trends in international trade.
High interest rates are preventing housing prices from hiking up sales revenue. Since houses are more expensive to finance, property sales are making up a smaller share of re...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
New South Wales, Queensland and Victoria contain the most real estate agents. In particular, demand for residential property is rising in Melbourne and Sydney, encouraging co...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Real estate agents compete based on service quality and fees. While larger agencies rely on their status and reputation, smaller agencies cannot benefit from their brand or e...
Learn about the performance of the top companies in the industry.
The Real Estate Services industry doesn’t have any major players. The industry is highly fragmented, and agencies tend to struggle to gain significant market share.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
State fair trading and licensing legislation applies to real estate agents. These requirements mostly relate to staff qualifications and experience.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Sales staff at large real estate agencies primarily earn wages from commissions. Greater commissions on higher house prices have lifted wages as a share of revenue.
Including values and annual change:
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Key data sources in Australia include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Real Estate Services industry in Australia is $28.0bn in 2024.
There are 41,360 businesses in the Real Estate Services industry in Australia, which has grown at a CAGR of 0.4 % between 2019 and 2024.
The market size of the Real Estate Services industry in Australia has been declining at a CAGR of 1.9 % between 2019 and 2024.
Over the next five years, the Real Estate Services industry in Australia is expected to grow.
The biggest companies operating in the Real Estate Services market in Australia are Ray White, Jones Lang LaSalle and CBRE
Property sales and Property leasing are part of the Real Estate Services industry.
The company holding the most market share in Australia is Ray White.
The level of competition is high and increasing in the Real Estate Services industry in Australia.