Small salary increases predicted for property industry

Small salary increases predicted for property industrySalaries will remain stable, with one in four property professionals gaining a salary increase of three per cent of more in their next review, finds the 2015 Hays Salary Guide.According to the 2015 Hays Salary Guide, employers will transition away from higher levels of temporary and contract roles back to more permanent positions in the year ahead.However, Hays warns property professionals not to expect big salary increases during this period. While 23 per cent of property, construction and engineering professionals can look forward to salary increases of three per cent or more in their next review, the vast majority (61 per cent) will receive an increase of less than three per cent.The Hays Salary Guide includes salary and recruiting trends for more than 1000 roles in 14 locations in Australia and New Zealand. It is based on a survey of 2610 organisations representing almost 2.9 million employees. Chris Kent, Regional Director of Hays Property, says the industry’s employers have a positive outlook, with 36 per cent expecting to increase permanent headcount and 64 per cent expecting business activity to rise.Hayes predicts high demand for development managers and project managers with brownfield medium to high-density experience. Experienced acquisitions consultants and strategic planners will continue to be highly sought in the coming year. Skills shortages are expected for strata managers.”Roles linked with the residential property market will continue to see salary movements in line with the fortunes of their region’s property market,” Kent explains.”Current boom conditions in Sydney will push up salaries, whereas oversupply and rising vacancy levels in Perth and Darwin will see stabilisation, if not small declines. As business sentiment improves we will see a moderate increase in commercial property salaries, and those states and territories that maintain steady non-resources manufacturing businesses will see an improvement in industrial salaries.” Download the 2015 Hays Salary Guide.