In the UK real estate sector, wages and salaries valued at 16.43 billion pounds sterling in 2023. From 2013 to 2023, an upward trend is evident, with notable spikes — especially in 2018, at a 15.64% increase. The last two years saw moderate increases of 2.92% in 2022 and 2.77% in 2023. The compounded annual growth rate (CAGR) over the last five years stood at 3.02%. Looking forward, projections suggest a slower annual growth rate of around 1.89% for the coming five years, resulting in a total growth of 9.8% by 2028.
Overall, the historical trend exhibits consistent growth, though it has moderated in recent years. Future trends to monitor include potential impacts of economic shifts, technological advancements in property management, evolving regulatory environments, and changes in labor market dynamics within the real estate sector.
