Property industry extends lead as NT’s biggest employer

 

Employment in the NT property industry has grown by more than 50 per cent in two years creating more jobs in the Territory than any other sector, according to new analysis by AEC Group released today.

Creating more than 34,300 jobs, property employs more than double the number of people than the next closest industry, public administration and safety at 16,200.

Employment in the property industry grew by 50 per cent from 2013-14 to 2015-16.

This mirrors a national trend which shows that nationwide property is now Australia’s biggest employing industry.

Property has also extended its lead as the biggest direct contributor to GTP, totaling $4.6 billion in 2015-16, almost twice that of mining. It has the largest economic footprint of any sector of the NT economy.

The industry contributed approximately $376 million to Northern Territory Government tax revenues in 2015-16, 38 per cent of the total collected.

This new research shows how vital the industry is to creating jobs and communities.

Property is the biggest provider of jobs in the Territory and has grown by more than 50 per cent in just two years.

More than 1 in 3 Territorians’ wages rely on our industry directly or indirectly – that’s a huge contribution to the livelihoods of individuals and families across the NT.

These are white-collar and blue-collar jobs, from high finance to skilled trades, and from construction to the managers of the most sophisticated commercial properties.

This data highlights the interlinked benefits of a strong property industry - construction activity not only helps boost supply and take the pressure of house prices, it also creates valuable jobs in the NT.

Our industry creates assets which are important for every community and helps shape our cities for the future.

Property is a broad, solutions-orientated industry.

Together, we’re focused on finding the best ways of meeting the challenges our industry is uniquely placed to respond to. 

Our industry is focused on helping people access housing that’s affordable and creating cities with good infrastructure, jobs and services that make them more liveable.

Australian property companies are already world leaders on sustainability and we want to raise the bar higher still on the energy performance of our buildings.”

For seven years running Australia’s largest property companies have ranked first in the world in environmental, social and governance performance on sustainability according to the international GRESB survey. 

The release of the AEC Research analysing employment and economic activity by industry sector also marks the launch of a community-facing campaign by the Property Council working with our members to tell the compelling job creation story of our industry.

 reating for Generations highlights the scope of the property industry, encompassing everything from residential to retirement, retail to office and industrial, and its role as Australia’s biggest generator of jobs and economic activity.

Full reports are available at campaign.propertycouncil.com.au/national-state-territory-reports

Direct Contribution to Gross Territory Product by Industry, 2015-16 ($ Billion)

Direct Contribution to Employment by Industry, 2015-16 ('000 FTEs)

Note: * Only non-property related activity is included for this industry classification. All property related activity is included in the property industry. Sources: AEC, ABS (2017a, 2017b, 2017c, 2017d, 2017e, 2016b, 2016c and 2013), APRA (2017a, 2017b and 2013), RBA (2017a and 2017b).