THE property industry now employs more people in Western Australia than any other sector, according to new analysis by AEC Group.
Creating more than 233,500 jobs, property has overtaken health care and social assistance as the biggest direct contributor to employment in Western Australia.
Employment in the property industry grew by 13 per cent from 2013-14 to 2015-16.
This mirrors a national trend which shows that property is now Australia’s biggest employing industry.
Property is the state’s biggest direct contributor to gross state product (GSP) after mining, totalling $31.2 billion in 2015-16.
The industry contributed about $6.9b to Western Australian Government tax revenues in 2015-16, 42.3 per cent of the total collected.
Property Council WA executive director Lino Iacomella said the new research showed how important the industry was to creating jobs and communities.
“Property is now the biggest provider of jobs in Western Australia,” he said.
“Now one-in-three wages rely on our industry directly or indirectly – that’s a huge contribution to the livelihoods of individuals and families across the state.
“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 biggest property companies have ranked first in the world in environmental, social and governance performance on sustainability according to the international GRESB survey.
He said the release of the AEC Research analysing employment and economic activity by industry sector also marked the launch of a community-facing campaign by the Property Council working with members to tell the compelling job creation story of the industry.
Reports available at campaign.propertycouncil.com.au/national-state-territory-re