Demand for property workers in Australia has declined sharply -- and it could be linked to sinking home prices

  • Job advertisements for Australian property workers have fallen sharply over the past year, according to data from SEEK.
  • 12 job categories recorded declines of more than 10% over the past year, partially offset by higher advertisements in government-related sectors.
  • Total job advertisements on SEEK fell 4.7% over the year.

Australian home prices have been falling for 18 months, contributing to a sharp decline in building approvals and the number of homes being built.

As seen in the table below from employment website SEEK, job advertisements for property workers are now also falling fast.

SEEK

Seek has recorded the percentage change in advertisements on its platform in the year to March.

The downturn in the housing market has had a major impact on demand for workers with ads for design and architecture, real estate and property, and construction workers all falling by 19.8% or more over the past 12 months.

Along with advertisements in those categories, a further nine professions recorded annual declines of more than 10%, including retail workers.

Behind healthcare, retail and construction are the largest employers in Australia, so these declines, if replicated in official jobs data, point to downside risks for hiring in the months ahead.

More broadly, SEEK said total advertisements on its platform fell by 4.7% over the year.

Without a strong increase in advertisements in government-related sectors, that decrease would have been significantly larger.

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