Selling residential property is by far the largest earner for estate agents, accounting for the majority of industry revenue. Over the five years through 2015-16, IBISWorld estimates that industry revenue will grow at a compound annual rate of 4.6%. This largely reflects the recovery in the housing market after the crash, which caused revenue to fall sharply in 2008-09 and 2009-10. A fall in the number of non-residential transactions also contributed to the industry's poor performance during the economic downturn. As a result, the five years through 2015-16 have mainly been a period of recovery.
Estate agents act as intermediaries when property is bought, sold or rented. They are paid on a fee or contract basis. They also provide advice and appraisals in connection with buying, selling and renting property and provide escrow services. Property-related legal services are excluded from the industry.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.