Forecast: Total Hours Worked in Real Estate in the UK

As of 2023, the total hours worked in the UK real estate sector stood at 941.06 million hours. The time series indicates a steady upward trend from 2013 to 2023, with Compound Annual Growth Rates (CAGR) ranging between 1.84% to 2.88%. The year-on-year variations during the last two years show consistent growth, albeit at a gradually decreasing pace (1.64% in 2023, down from 1.7% in 2022).

Forecasted data from 2024 to 2028 suggest continued growth, hitting 1010.0 million hours by 2028, with an expected 5-year CAGR of 1.16%, indicating a slightly slower growth rate compared to previous periods. Future trends to watch for include:

• Technological advancements influencing work efficiency
• Market dynamics such as property prices and housing demand
• Regulatory changes impacting the real estate sector