Forecast: Employees in Real Estate Sector in the UK

Over the past decade, the UK real estate sector has shown a mixed trajectory in terms of employee hours. From 2013 to 2023, there was a consistent increase, peaking notably in 2021. Despite a slight dip in 2022, the year 2023 saw a modest recovery, reaching 843.19 million hours. The year-on-year variation indicates fluctuations, with significant growth in 2021 and declines in 2019 and 2020. The 5-year CAGR before 2023 averaged around 1.5%, hinting at steady growth.

For the forecast period from 2024 to 2028, steady growth is anticipated, with a 5-year CAGR matching the historical rate of 1.5%, and the sector projected to reach 926.37 million hours by 2028, reflecting a 7.72% growth over this period.

Future trends to watch for include:

• The impact of digital transformation on employment within the sector
• Possible fluctuations due to economic and political shifts, especially Brexit ramifications
• Environmental regulations and their influence on new projects and staffing needs