From 2013 to 2023, the number of employees in the UK real estate sector saw a significant rise, starting at 419.41 thousand persons in 2013 and reaching 509.41 thousand persons in 2023. The early years marked higher year-on-year variations, such as 6.12% in 2013 and 5.3% in 2018, indicating a phase of rapid growth. By contrast, the period from 2020 to 2023 shows a more moderated increase, averaging around 1.76% year-on-year. The CAGR over the last five years (2019-2023) is 2.31%, reflecting consistent growth despite some yearly fluctuations.
Looking forward, the forecast suggests a continued positive trend, though at a slightly slower pace, with an expected CAGR of 1.2% over the next five years. The total number of employees is forecasted to reach 549.45 thousand persons by 2028, representing a 6.12% increase from 2023.
Future Trends to Watch For:
- Integration of advanced technologies in real estate operations.
- Impact of economic policies and Brexit on employment rates.
- Sustainable and green building practices shaping the job market.
- Growing focus on remote work and its implications for commercial real estate.