Australia’s housing market has entered a downturn, led by weakness in Sydney and Melbourne.
Home prices, auction clearance rates, buyer sentiment, new housing sales and housing finance are all starting to decline, indicative of cyclical downswing currently underway.
You can now job ads for real estate workers to that list.
From the National Australia Bank, it shows the recent trend in real estate jobs posted on Seek’s Australian platform.
According to the group, the number of real estate ads fell 13% in the year to June, second only to banking and financial services positions which tumbled 16% over the same period.
Ivan Colhoun, Economist at the National Australia Bank, says the decline in these and other property-related sectors all largely reflect the same thing: the impact of tighter lending standards for mortgages.
“The easing has been evident in each of the big three states — New South Wales, Victoria and Queensland — suggesting a macro impact, most likely the further further tightening of lending standards in the middle of last year.
“As such, job ads are confirming the likely easing of residential property-related activity.”
SEE ALSO: The Australian industries that have seen the largest increases — and decreases — in salary levels over the past 5 years
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