Throughout the last decade, employment in the UK real estate sector has shown a generally positive trend. Between 2013 and 2023, the number of employed persons rose from 539.85 thousand to 612.2 thousand. The year-on-year growth rate varied with significant fluctuations early on but settled into a more stable growth pattern from 2017 onwards. By 2023, the year-on-year growth rate was 1.5%, down from the 3.42% observed in 2018. Notably, the compound annual growth rate (CAGR) over the past five years up to 2023 was 1.49%.
In the forecast period from 2024 to 2028, the number of employed individuals in the real estate sector is projected to continue increasing, reaching 654.85 thousand by 2028. The forecasted 5-year CAGR is 1.06%, indicating a modest but steady growth rate. The overall growth rate for this period is expected to be 5.44%.
Future trends to watch for include technological advancements affecting the real estate market, changes in consumer behavior influenced by economic conditions, and policy developments impacting property regulations. Additionally, ongoing adoption of sustainable and green building practices may create new employment opportunities in this sector.
