The output of the real estate sector in the UK has seen varied year-on-year growth, with a noticeable dip in 2020, followed by a rebound in subsequent years. As of 2023, the real estate output value stood at 364.82 billion pounds sterling. The sector experienced an average annual growth rate (CAGR) of 2.02% over the last five years. Forecasts suggest a continued but modest growth trajectory, with a 1.51% CAGR expected from 2024 to 2028, resulting in a total forecast growth rate of 7.76% by 2028.
Notable year-on-year variations over the last two years include a 7.39% increase in 2022 and a 1.94% growth in 2023. Future trends to watch for include potential impacts of economic policy changes, housing market dynamics, and broader economic conditions that could influence investment and development in the sector.
