Labour costs in the UK real estate sector stood at £19.43 billion in 2023. The data reflects notable fluctuations over the past decade, with year-on-year growth peaking in 2018 at 14.82% and the lowest at 1.43% in 2017. The compound annual growth rate (CAGR) over the last five years averaged at 3.12%. Future projections suggest a forecasted CAGR of 1.91% from 2024 to 2028, indicating a relatively modest growth trend compared to historical values with a forecasted overall growth rate of 9.92% for the next five years.

Key future trends to watch include:

Potential impacts of economic policies and regulations on labour costs.
Technological advancements improving efficiency, potentially reducing labour needs.
Shifts in market demand and their influence on labour intensity in the sector.