Property market revival is boosting real estate sector employment
The latest research by leading property recruitment specialists, Rayner Personnel, has revealed the UK Real Estate sector could be on course to increase 44% based on current employment and the number of vacancies being actively recruited for.
Rayner analysed data on the number of job vacancies being actively recruited for, the number of businesses operating in each sector, the size of the current workforce, and what this equates in terms of job availability levels.
Across all industries, there are currently 7.4 jobs going for every one company, however, this level of job availability is much lower in the property sector.
There are an estimated 100,345 businesses operating within the UK Real Estate sector and with an average of just 1.8 roles being actively recruited for, it means there are just 180,621 available jobs being recruited for at present.
This is the third-lowest of all sectors, with just the Arts, Entertainment and Recreation (67,525) and Arts, Water Supply (7,835) sectors seeing a lower level of job vacancies available.
In contrast, there are 22.5 roles available across the 228,750 companies operating within the Administrative sector, resulting in the highest job availability with over 5.1m vacancies being actively recruited for.
However, the good news for estate agents is that the number of roles being advertised sits mid-table when compared to the relative size of the existing workforce.
In fact, the additional 180,621 hires currently being recruited for would boost the sector’s overall workforce by 44% from the existing 406,000 in employment already, should these vacancies translate into hires.
Just the Admin, Transport, Scientific and Technical, Information and Communication, Transport, Wholesale and Retail and Accommodation and Food Services sectors would see the overall workforce boosted by a larger number, based on the current number of roles being actively hired in relation to the existing number of employees.
Founder and CEO of Rayner Personnel, Josh Rayner, commented:
“On the face of it, it certainly seems a tough time to be job hunting in the property sector with the third-lowest number of vacancies of all industries.
However, the silver lining is that when considering the number of current employees already working within the sector, this level of hires would boost employment figures by nearly half.
So in context, the property sector is actually one of the more promising for out of work professionals.
This increase in demand for top talent has no doubt been driven by the market returning to business, bolstered by the stamp duty holiday reprieve announced shortly after.
With many now planning for the long-term and hiring to facilitate life after COVID, those that feel they may be out of work come the end of the furlough scheme should blow the dust of their CV and get searching now.”
