australia property market update q2 2014 linkedin
TRANSCRIPT
Capstone RecruitmentAustralian Property Market Update Q2 2014
“New developments and acquisition opportunities forging ahead as Australia rebounds”
AT A GLANCE
Residential apartments red-hot – Housing affordability and population growth in major capital cities is driving medium and high density living over single unit dwellings. Every second office tower is being converted to residential use and candidates with skills in residential built form are keenly sought after.
Acquisitions roles are back – The function of attracting, identifying and transacting new business has been unbundled from development delivery. We are seeing a large number of roles focused on buying, packaging, swapping and divesting assets to make strategic use of capital in development. This often means redeploying investment away from unproductive projects
Industrial portfolio growth – We are experiencing a wave of growth in industrial, with the likes of Stockland and AMP returning to this asset class. Government investment in infrastructure has unlocked new business hubs away from capital cities, attracting development projects to metropolitan financial hubs.
Senior hiring – We are seeing competition for built form residential talent and seasoned candidates will command premium salaries. Otherwise, anecdotally salaries seem higher because the senior roles are returning as organisations feel confident to bolster their GM, Senior DM and Project Director ranks.
SPOTLIGHT
Retail developments committed. We’ve seen a startling number of retail development projects go ahead. Local super funds and offshore pension funds have taken passive investments as co-owners in centres such as AMP’s Macquarie Centre, allowing developers to put capital into much needed upgrades and expansions. Retail development candidates are in demand in Perth, Sydney and QLD (Brisbane and regional areas).
Contact Information
Nicholas PageDirector E [email protected]
Olivia KrienAssociate DirectorE [email protected]
Capstone Recruitment T +612 9146 6660 E [email protected] W www.capstonerecruitment.com.au
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