Australian Bureau of Statistics

Rate the ABS website
ABS Home > Statistics > By Catalogue Number
ABS @ Facebook ABS @ Twitter ABS RSS ABS Email notification service
8663.0 - Real Estate Services, Australia, 2002-03  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 22/04/2004   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product

MEDIA RELEASE

April 22, 2004
Embargoed: 11:30 AM (AEST)
58/2004
Real Estate Services businesses generate $7,500 million in income

Australia's real estate services businesses generated $7,500 million (m) in income in 2002-03, according to figures released today by the Australian Bureau of Statistics. This was equivalent to 0.6% of Gross Domestic Product.

Franchised real estate agents generated nearly half ($3,700m) of this total income with non-franchised agents generating 41% ($3,100m) and other real estate services businesses (9%) $700m.

The major source of income for real estate agents was property sales commissions ($5,000m), while property management commissions generated income of $1,100m. Private treaty was the most common type of sale of property in Australia, with over three-quarters (78%) of all income from property sales commissions by real estate agents generated this way. Sales commission income generated through auction comprised 19% of the total. Auction sales were highest in Victoria (31% of total sales) with Western Australia being the lowest (3%).

At the end of June 2003:
    • Real estate agent businesses tended to be small employers with just under three-quarters (73%) of all businesses employing less than 9 people;
    • Tasmania (60%), New South Wales (54%) and South Australia (51%) had the highest concentration of franchised real estate businesses to total real estate agency businesses within their respective states. Western Australia had the lowest with 33%;
    • Franchised businesses had a higher prevalence of web presence than non-franchised businesses (98% and 65% respectively); and,
    • 1.2 million residential and 169,000 non-residential tenancies were managed by real estate agency businesses.

There were 10,000 real estate services businesses including 4,500 non-franchised and 3,600 franchised real estate businesses. These total businesses employed 76,600 people.

Further details are in Real Estate Services, Australia, 2002-03 (cat. no. 8663.0).

Bookmark and Share. Opens in a new window

Commonwealth of Australia 2014

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.