Property agent earnings up 3.2% to their second highest within the final decade

Analysis by Nested, the trendy property agent, has revealed that the common annual gross pay of an property agent climbed by 3.2% in 2022, reversing the steep decline seen the earlier 12 months, hitting its second highest annual stage within the final decade.

Nested analysed knowledge from the Workplace for Nationwide Statistics on the common gross wage of actual property businesses and the way this stage of pay has modified over the past 10 years.

The analysis exhibits that the common gross wage throughout the sector climbed to £38,898 in 2022.

The common earnings seen in 2022 marked a 3.2% enhance on the earlier 12 months and 17% increased than the common UK benchmark for the 12 months.

This upward progress reversed the downward pattern of the earlier 12 months, when the common gross wage earned throughout the sector fell by a notable -9.6% to £37,770 in 2021 from a decade excessive peak of £41,788 in 2020.

The newest common earnings of £38,989 additionally sits some 26% increased when in comparison with a decade in the past and, apart from 2020, is the best annual gross earnings seen throughout the sector within the final 10 years.

Alice Bullard, Managing Director at Nested, the trendy property agent stated, “Following the preliminary crimson scorching market circumstances of the pandemic market growth, the common property agent noticed an annual discount in earnings to the tune of simply over £4,000 in 2021.

However regardless of a gradual return to normality persevering with in 2022, and with the extra market stress of accelerating rates of interest, many might be relieved to see that the earnings on provide through the sector have rebounded.

Will probably be fascinating to see the place we end in 2023 on this respect because the outlook stays considerably unsure, but it surely’s truthful to say that the resilience of the UK property market has offered relative security and stability for these working inside it over the past decade.”