Property manager jobs rebound in UK commercial real estate as employees return to offices and hybrid-working space demand grows — new report
- Property management vacancies in UK up 57% year-on-year in 2021
- January 2022 breaks three-year record for most new monthly jobs
- Leaders Romans Group, Spicerhaart Group and CBRE top recruiters
- London dominant, West Mids with largest growth, dip in East of England
Vacancies for real estate property managers across the UK are hitting historic highs, signifying a swift recovery in occupancy levels across commercial office space following the pandemic, new research shows.
According to a new report by recruitment industry data analysts Vacancysoft, jobs in property management plummeted during the initial stages of the pandemic, falling to as low as 16 vacancies in April 2020 and averaging 100 new jobs a month across the whole year.
Recruitment properly recovered in 2021, hitting an historic peak in March (191 jobs) and gradually increasing over the following months before reaching another all-time high in August (202 jobs). Hiring levels finished at 57% year-on-year, and with a higher monthly average of 160 new jobs.
January 2022, however, broke the three-year record for most new monthly jobs, with nearly 220 vacancies for property managers. This year is projected to finish 28.5% up on 2021 — nearly double the total number of jobs compared to 2020.
James Chaplin, CEO, Vacancysoft, said:“The numbers of new property manager jobs in UK commercial real estate are a good indicator of occupancy ratios: the more businesses need them, the larger the likelihood that office space is being filled.
“Driving this uptick is people returning to offices and hybrid-working practices creating additional challenges in property management. Until the industry understands this properly, hiring for property managers looks set to remain healthy for a while.”
Shelley Jackson, Associate Director at property talent solutions firm deverellsmith, said: “The commercial sector is experiencing a swift bounce back and the competition for talent is fierce. Property managers, up to three years-post qualified with salaries between £40k-£55k are gold dust and currently the hardest to attract. However, hybrid property manager / asset manager roles seem to stimulate keen candidate interest.
“More than ever, businesses need to manage a seamless candidate experience to promote a positive impression of the organisation. This means prioritising time to interview, providing feedback to candidates post-interview in a timely manner and being prepared to issue offers and contracts quickly. It’s not unusual to see employers present counter offers of around a 15% salary increase and anywhere up to 25% as employers work to retain their best talent.”
Leaders Romans Group, Spicerhaart Group and CBRE top recruiters
The leading recruiter for property managers in 2021 was Leaders Romans Group, publishing over 200 vacancies. In early 2022, the company published the second-most number of new jobs and is on course for 39% annual growth in recruitment for this function.
Hiring levels at Spicerhaart Group, publisher of the most property management vacancies so far in 2022, are projected to finish at 130% higher than 2021. The leading real estate consulting firm for new jobs is CBRE, where hiring activity in 2022 is at a steady 8% incline.
|Top firms, property management vacancies, real estate, UK, 2021-2022|
|Leaders Romans Group||Real Estate Services||203||47|
|Spicerhaart Group||Real Estate Services||159||61|
|CBRE||Real Estate Consulting||122||22|
|Firstport||Real Estate Services||120||29|
|Countrywide||Real Estate Services||105||6|
West Midlands with largest growth, East of England experiences decline
London continues to make up the bulk of the labour market and in early 2022, new jobs in the capital are already on course to be 23% higher than last year. Fastest growing is the West Midlands, with property management vacancies set for a 116.5% year-on-year rise.
In the East of England, meanwhile — which recorded one of the largest surges in property manager hiring in 2021 (176% year-on-year) — vacancy levels in 2022 are slow out of the blocks and projected to be down 13.5% by the end of the year.
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