Home » News » Agencies & People » Job vacancies in property rise as political uncertainty clears
Agencies & People

Job vacancies in property rise as political uncertainty clears

Number of vacancies within sector rises by 16% quarterly figures show, although annual comparison reveals damage to property industry by Brexit.

Nigel Lewis

property industry

Following upbeat official employment figures for the final three months of last year, it has also been revealed that the number of vacancies within the property industry has increased on a quarterly basis.

Employment data released by the Office for National Statistics (ONS) reveals that the UK employment rate is 76.3%, a record high, helped by increasing number of women and freelancers joining the workforce.

There are now just 1.31 million people without a job in the UK, 7,000 fewer than during the preceding three months.

The number of vacancies within the property industry is 11,000, an increase of 16% compared to the previous quarter but down by 2% year-on-year. At this level, the figures suggest, the property sector jobs market in the UK is healthy; the annual average over the past 20 years is 8,000 vacancies.

But the uncertainty over the past three and a half years following the EU Referendum also reveals itself within the data.

During the months prior to the vote in 2016 up to 15,000 job vacancies were being advertised within the property sector, but after the EU vote it dipped to just 9,000 as many firms reined-in their recruitment.

Resilient

“The creation of so many jobs in a period that was crippled by political uncertainty is perhaps evidence that UK businesses are more resilient than many had thought,” says Ayush Ansal, chief investment officer at Crimson Black Capital.

“By the end of last week, the chances of a rate cut at the end of this month had increased materially, but now the MPC’s decision looks set to be on a knife edge.”

Read more: How to get a job as an estate agent.

 

 

 

January 22, 2020

What's your opinion?

Please note: This is a site for professional discussion. Comments will carry your full name and company.

This site uses Akismet to reduce spam. Learn how your comment data is processed.