Property Council Queensland executive director Chris Mountford said property was now Queensland’s leading employment sector. Picture: Mark Calleja
THE property industry has now become Queensland’s biggest employer with more people working in the sector than any other.
New figures released by AEC Group revealed that it had now overtaken health care and social assistance as major employers.
According to the Property Council Queensland the industry created more than 331,400 jobs and was the biggest direct contributor to employment in Queensland.
The latest figures showed employment in the industry grew by 38 per cent between the 2014 and 2016 financial years.
And as well as employing the most people it also was the biggest direct contributor to Gross State Product, delivering $42.7 billion.
Property Council Queensland executive director Chris Mountford said the industry also contributed significantly to tax revenue, forking out about $11.2 billion or 53.7 per cent of the total collected.
Of this a whopping $3,050 million was through transfer and stamp duty, while $1,010 million was collected in land tax.
The data was also divided into state government electorates to reveal which generated the highest amount of gross product and jobs.
The newly named McConnel electorate, which included Brisbane City, Kelvin Grove, Teneriffe, New Farm and Fortitude Valley had a gross product of $4330.9 million and 19,899 full-time equivalent jobs.
Mr Mountford said the figures showed how important the property industry was for creating jobs.
“Some one in three Queenslanders’ wages rely on our industry directly and indirectly – that’s a huge contribution to the livelihoods of individuals and families,” Mr Mountford said.
He said the industry covered a whole range of jobs from blue collar to finance and skilled trades.
Mr Mountford said the AEC Research, analysed employment and economic activity by industry sector.
Originally Published: brisbaneinvestor.com.auE
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