Melbourne property consultants earn up to $2m a year – report
A Melbourne property consultant has been paid more than $2 million a year to advise on the city’s housing crisis.
Key points:Melbourne’s housing market has seen an exodus of homebuyers since the state’s property-tax hikes were introduced last yearThe number of people who were homeless and in danger of being homeless has doubledMelbourne property consultant Mark Cunha has been earning more than his peers over the past three yearsThe report shows that in 2016-17, the average Melbourne property advisor earned $1,766,832, up from $1.8m in 2015-16, when the state imposed its property-purchase tax hike.
He said he was the highest-paid consultant in the city, but said he had received no payments from the state for services to help ease the housing crisis and that it was difficult to tell how much of his income was due to the levy.
“The reality is I do not have a lot of money to spend on this, and I do have a bit of time off work and my kids have a busy schedule,” Mr Cunham said.
“I would say I am about $1m per annum.”
And that is in a very, very good time, when I am getting paid $1million a year.
“Mr Cunghah’s salary was not disclosed, but his company, Cunhal & Partners, said it was based on a ratio of one to four, which meant he earned about $750,000 a year.
Mr Cungah, who has worked for the firm for more than a decade, said the report had been highly misleading and inaccurate.”
It’s a very misleading headline,” he said.
Mr Brough, the chief executive of Melbourne property management company Realty, said Mr Cunnah’s pay was “incredible” given that his company had a turnover of less than $100,000 last year.”
When we hired him, it was only $150,000.
He’s paid more in the last three years than we’ve ever had in our history, and that’s a record,” he told The Weekend Australian.”
Mark Cunh is a very important consultant, but when we hire someone for $150k a year it doesn’t mean he’s the best consultant in Melbourne.
“Mr Bough said that when the firm hired him to help with the housing issue in 2011, he did not realise he was going to be earning more.”
My company has never paid a consultant more than he was making, which is about $600,000 per year, so I was very surprised,” he added.”
That’s a big, huge amount of money for a consultant.
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