Amid difficulties in the construction sector, property companies are finding it easier to hire staff in 2024, putting less pressure on their wages bill, according to a new survey of remuneration conditions in the sector. Only 25 per cent of real estate businesses surveyed in March by consultancy Avdiev Report said they faced difficulties recruiting to fill key positions, down from a peak of 60 per cent two years ago. Property sector wage rises also moderated to 4.
7 per cent in the year to February, still higher than the wider national Wage Price Index of 4.2 per cent, but down from 5 per cent a year ago.“It is encouraging that most companies believe adverse trading conditions are now bottoming out and some optimism is beginning to appear,” Avdiev Report principal Debra Moloney said. “Stabilising remuneration and skills shortages, coupled with expectations that interest rates may start falling by year’s end, will create more favourable operating conditions for most property sectors in 2024 and beyon