Property Management – UK Real Estate Labour Trends, June 2023
PROPERTY MANAGERS IN DEMAND AS VACANCIES RISE 9% ON 2022 LEVELS
Key findings include:
- 2022 was already 22% up on 2021, meaning 2023 is now at peak levels
- Real Estate Services companies dominate hiring accounting for 76% of the total by sector
- London is growing in share, up to 46% of all national vacancies
- Dexters are a company to watch, with 2022 up 124% up on 2021
Despite concerns over inflation and the impact of rising interest rates on mortgages, demand for property managers has held firm. Total vacancies increased significantly in 2022 (+22%) and this trend is set to continue in 2023, according to the latest Real Estate Labour Market Trends report by market data analysts Vacancysoft.
“As businesses look to organise themselves to have people back on site full time, so the need for property management has increased, even as other areas have slowed down,” according to James Chaplin, Chief Executive at Vacancysoft.
Real Estate Services was the dominant sector for property management vacancies in 2022. It achieved over 1,300 new jobs, a remarkable increase of 9.2% compared to the previous year. In Q1 2023 alone, this sector has already published close to 500 job openings.
London accounted for nearly 700 job postings for property management professionals, an impressive 46.4% increase from the previous year. This accounted for 39.1% of all new opportunities, up from 31.9% in 2021.
The South East region ranked second in property management vacancies, posting an 11.7% year-on-year increase. However, the East of England experienced a fall of 9.2% compared to 2021, dropping its overall share of vacancies to 10%, down from 13.1% in 2021.
By organisation, Sedgwick leads the way, equally London headquartered Dexters is one to watch, as it recorded an impressive yearly rise of 124.1% compared to 2021.
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All data featured in this report is available in the Vacancy Analytics platform, which is updated in real-time and allows for interactive analysis, giving you the power to drill into trends to identify the key insights, you need to power your business.
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