Property industry wages rise up to 12% in past year: new report

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That’s compared to a national rise of just 1.9% in the year to the June quarter, according to the latest Avdiev Property Industry Remuneration Report.

It found many companies are trying to attract more women and offering flexible work arrangements, but talent shortages are still an issue.

Wage growth was strongest for assistant property/facilities managers working in real estate agencies, who reported 4% average wage rises to $70,000 in the year to September.

Portfolio managers in the property funds management sector also reported a 3.6% median pay rise to $264K, while leasing managers of retail property had 3.6% pay rises to an average of $182K.

Other wage rises included:

  • Assistant property development managers – 3.1% to $92K;
  • Senior project managers in corporate real estate – 2.6% pay rise to $166K;
  • Project managers in building, design and construction – 2.5% to $188K; and
  • Project/design architects – 2.3% to $87K

For the retirement living industry, general managers of village operations saw a 2% increase to $258K.

Compare this to an average of just under $69,000 for a village manager according to PayScale.

How can we attract village managers with the right experience and background without the salary to match?