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Job advertisements for the mortgage industry have plummeted in Adelaide, while demand in Sydney has almost doubled.
According to job site Seek, its latest Employment Index (SEI) showed roles within the mortgage industry – be they with lenders or the third party channel – plummeted by 37 per cent year on year in Adelaide. This was more than offset by Sydney, which posted a massive 95 per cent increase in advertised positions over the same period last year.
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Brisbane and Perth also experienced strong growth in mortgage role advertisements, with increases of 67 per cent and 27 per cent respectively. Melbourne witnessed a slight increase of eight per cent.
However, the SEI generally proved good news for people employed in the mortgage industry, with a 52.67 per cent national increase in advertised positions overall, highlighting a growing demand for brokers and support staff across Australia.
FBAA chief executive Peter White said the overall upward trend in advertisements was good news and downplayed the idea that a lack of quality recruits could work to tarnish the industry.
“I think it’s a very good sign,” he said of the SEEK data.
“It’s showing that the industry is strong and vibrant, and it’s growing.”
Mr White said the growth that the FBAA is experiencing is reflective of the growth in the mortgage broking and finance sector, which is being driven by market demand.
“People are gaining momentum in their businesses, and as their business volumes increase, they obviously need more support staff around them to help handle the business they’re writing,” he said.
Commenting on Adelaide’s poor showing, Tim Cece, director of Adelaide’s Search Mortgages, said he had noticed a drop in number of mortgage roles advertised in South Australia’s capital, but does not believe that it is a sign of things to come for the industry.
“I can certainly believe that there is a decrease in the number of positions available, as I know that a lot of businesses have had to tighten up in the past few years,” he said.
“More regulations and costs involved with being a broker have made it much harder to become one and maintain the necessary memberships and accreditations.
“I believe this statistic is just a flow-on effect from the past few years in this industry, but moving forward I see good things ahead for mortgage broking and the housing market.”
The SEI also highlighted the demand for workers within the financial sector overall. The demand for business bankers was up 98.8 per cent year on year nationally, retail/branch bankers saw an 82.36 per cent increase, while for funds managers it was a healthy 61.32 per cent.
[Related: Aussie seeks 200 new brokers in 22pc expansion drive]
