Sedate pay rises ahead for most property workers

Sedate pay rises ahead for most property workersFifty-four per cent of our industry’s employees will get a small pay rise in their next review, but 12 per cent will miss out completely, says recruiting experts Hays Property.The annual Hays Salary Guide, now in its 39th year, reveals that 25 per cent of employers intend to award a salary increase of between three and six per cent. Just nine per cent of employers will increase salaries at the higher level of more than six per cent.The Hays Salary Guide is based on a survey of more than 2,9 organisations, representing just over three million employees, as well as placements made by the recruiter. It shows that employers have a positive outlook yet many remain cautious when it comes to salaries. “Across the country, business and consumer sentiment has increased and we expect to see stronger levels of recruitment as a result, although salaries remain stable,” says Claire Forsyth, Hayes Property’s regional director.”All states have major infrastructure projects in the pipeline however varying local economic conditions will yield differing appetite for investment and growth opportunities, and therefore vacancy activity.”Forsythe says the bright spots include strong activity in New South Wales and Victoria, particularly residential and hotel developments. Government investment in infrastructure, notably in Victoria, is also delivering a healthy pipeline of work.”In Queensland, commercial leasing consultants and property managers remain in great demand, while in Adelaide the flow of foreign investment and surge in medium-to-high density residential development is adding to vacancy activity.”Meanwhile, the development of high-rise apartments and mixed-use precincts in Canberra is creating demand for relevant staff, and commercial construction in Tasmania “is at an all-time high”, also leading to increased staffing demand. “Western Australia’s oversupply of office space has resulted in increased demand for effective negotiators, and residential property managers are still needed,” she said.More broadly, business activity has increased for 70 per cent of employers surveyed, and three quarters expect it to increase in the next 12 months. Forty-five per cent of employees expect to increase permanent staff levels, far exceeding the 11 per cent who say they’ll decrease their workforce.