United Kingdom Real Estate Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

• The UK real estate services market is estimated to grow at a CAGR of approximately 3% during the forecast period.
• Private rental prices paid by tenants in the United Kingdom rose by 1.4% in the 12 months to November 2019, up from 1.3% in October 2019. Between January 2015 and November 2019, private rental prices in the United Kingdom increased by 8.3%. Average house prices in the United Kingdom peaked at GBP 235,000 in September 2019, annual growth rate of house prices was valued at 0.7% in October 2019, The facilities management industry is accountable for as much as 8% of the United Kingdom’s gross domestic product (GDP), and the sector employs up to 10% of the country’s workforce. The UK market was considered as the most mature and competitive in Europe, with most estimates putting its value in 2017 as high as GBP 120 billion.
• The economic value created by commercial real estate is significant, with the industry responsible for 7% of all economic output generated across the United Kingdom. The number of properties available per realtors’ branch fell in October 2019, from 40 in September to 39, the lowest amount seen since June 2019, year-on-year, the supply of housing is down, falling from 40 in October 2018. There are 148,046 build rent units that are either completed or planned across the United Kingdom, including 34,840 completed, 35,760 under construction, and a further 77,446 with planning permission.
• The UK government has taken initiative toward affordable home ‘The Shared Ownership and Affordable Homes Program 2016 to 2021’ to deliver starts on site for at least 135,000 homes for help to buy (shared ownership), 10,000 homes for rent to buy, and 8,000 homes for supported and older people’s rental accommodation.

Scope of the Report

This report aims to provide a detailed analysis of the UK Real Estate Services Market. It focuses on the market dynamics, emerging trends in the segments and regional markets, and insights on various product and application types. Additionally, it analyzes the key players and the competitive landscape in the UK real estate services market.

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Key Market Trends

Increase in adoption of Proptech in real estate:

Britain has made a digital transformation in the real estate sector and supported new innovational startup and tools. Proptech is becoming a major need to cope up with the whole industry to adopt new technologies so you can prove your presence in such a fast pace race. the UK seemed to adopt more B2B (business to business) PropTech solutions more of the B2C (business to customer) one by almost 28%. Also, worth mentioning that most UK Proptech users tend to use it in managing their properties in the first place and then to sell, buy, rent or build it. Due to the rapidly changing face of the workplace, UK commercial property, most notably office space, is busy trying to deliver what modern businesses are now demanding, flexible, short-term space to help support increasingly remote and nomadic workforces. This goes a long way to explaining the keen interest of ongoing property and facilities management as companies like Re-leased are helping streamline the processes of identifying space for occupiers and increasing revenue for commercial owners and landlords.

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