Rayner Personnel Salary Landscape Report 2022/2023 - Manual / Resource - Page 4
4
01: ESTATE AGENCY &
LETTINGS OVERVIEW
While the world is slowly shifting to pre-pandemic patterns, there have also been permanent
changes. The job market has altered especially in the property and letting industry.
THE PROPERTY
INDUSTRY IS
EXPECTED TO
REACH £5,388
BILLION IN 2026
Covid-19 and the recent economic recession
have caused a decreased demand for
newproperties, resulting in a reduction in
construction and development activities. As a
result,hiring and retaining roles like engineers,
laborers and architects has reduced. On
the other hand, property management
professionals and property finance and
investment specialists are in high demand.
It has led to increased competition for
talent in these areas with many companies
2022/2023 ANNUAL REPORT
requiring help finding and retaining the right
employees. With this in mind, companies
in the property or letting industry opt for
new recruitment strategies, such as flexible
hours, remote work, competitive salaries, and
innovative compensation packages. While
there are some challenges on the staffing and
recruitment front for the property industry,
companies are adapting and finding new ways
to attract and retain talent.
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