The property sector is Australia’s largest employer and there are more than 170,000 professional services providers in the sector. These are statistics that have been made available by the Property Council of Australia in new research by global economic consultancy AEC Group which measures the significant contribution the property industry makes to Australia as the nation’s biggest employer and largest industry.
Creating more than 1.4 million jobs, property has overtaken health care and social assistance as the biggest direct contributor to employment in Australia by industry.
Employment in the property industry grew by 22 per cent from 2013-14 to 2015-16.
Property has also extended its lead as the biggest direct contributor to GDP, totaling $202.9 billion in 2015-16, an increase of $20.4 billion since 2013-14.
The industry contributes some $87.9 billion annually in combined Australian, state, territory and local government tax revenues, an increase of $15.8 billion over the same period.
Property Council Chief Executive Ken Morrison said the new research shows how vital the industry is to creating jobs and communities.
“Property is now the biggest provider of jobs in Australia,” Mr Morrison said.
“More than 1 in 4 wages rely on our industry – that’s a huge contribution to the livelihoods of individuals and families across the nation.
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