Industry campaign highlights new data

As the new property industry campaign continues, new data demonstrates the importance of the property industry to jobs and the local economy.

The property industry now employs more people than any other sector in NSW, according to new analysis by AEC Group.

Creating more than 390,000 jobs, property has overtaken health care and social assistance as the biggest direct contributor to employment in NSW by industry.

Employment in the property industry grew by 25 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 GSP, totaling $63.4 billion in 2015-16, an increase of $8.9 billion since 2013-14. It has the largest economic footprint of any sector of the NSW economy.

The industry contributed approximately $20.9 billion to New South Wales Government tax revenues in 2015-16, 54.1 per cent of the total collected.

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.

Creating 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