Residential Property Leasing and Management in Australia - Industry Market Research Report

High vacancy: Low property yields and mortgage affordability have managed to slash revenue

Firms in the Residential Property Leasing and Managing industry have battled with dulled demand conditions as the COVID-19 pandemic has sparked economic challenges. Border restrictions have meant that Australia has had lower migration and fewer international students, which has lifted rental vacancy rates and dampened demand for property management services. However, housing is a necessity, and residential property is considered a safe investment in Australia. These factors have therefore limited falls in revenue. Industry revenue dropped at an annualised 1.2% to $8.3 billion over the five years through 2022-23. This trend includes a revenue drop of 3.2% and a profit contraction to 19.8% in 2022-23, as lower mortgage affordability has discouraged people from buying houses and needing property management services. Industry players lease and manage residential real estate, or other property that they do not own, on behalf of residential property owners and operators. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.