Property industry ramps up contribution to Tassie jobs and economy

Employment in Tasmania’s property industry has grown by 40 per cent in just two years, making it the state’s third biggest generator of jobs, according to new analysis by AEC Group released today.

Employment in the property industry shot up from 13,923 in 2013-14 to 19,500 in 2015-16.

Nationally, property is now Australia’s biggest employing industry.

Property has also increased its contribution to GSP, totaling $2.4 billion in 2015-16, making it the state’s third largest industry.

The industry contributed approximately $946.5 million to Tasmanian Government tax revenues in 2015-16, 57.4 per cent of the total collected.

Property Council TAS Executive Director Brian Wightman said the new research shows how vital the industry is to creating jobs and communities.

“Property is now the third biggest provider of jobs in Tasmania,” Mr Wightman said.

“In a short space of time we’ve seen a huge jump in the jobs and economic activity the property industry is creating for the state.

“Now 1 in 5 Tasmanians’ wages rely on our industry directly and indirectly – that’s a huge contribution to the livelihoods of individuals and families.

“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 jobs.

“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.

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

Media contact:  Brian Wightman |  E bwightman@propertycouncil.com.au