The employment in the Real Estate Activities Sector in the UK has demonstrated a generally upward trend from 2013 to 2023, reaching approximately 456,500 full-time equivalents (FTEs) in 2023. The year-on-year growth rate has varied, with periods of lower growth and slight decline, particularly noticeable in 2018. However, the sector has shown resilience with a CAGR of 1.4% in recent years. Looking ahead, forecasts suggest continued expansion, with employment projected to reach 482,060 FTEs by 2028, indicative of a forecasted CAGR of 0.86% over the next five years.
Future trends to watch for:
- Impact of technology and automation on employment dynamics in the sector.
- Policy changes, especially those related to housing and urban development, which could significantly affect employment.
- Economic volatility and its potential influence on the real estate market and subsequently, on employment rates within the sector.