Estate agent jobs in London affected by saturation in property market

It’s become a cliché by now that London has experienced a property market boom, but house prices and rents continue to rise. That’s well known. However, it might well be the case that London’s estate agent sector has reached saturation point, despite the continuing rise in property prices.

At some stage, this was inevitably going to happen. The capital might be huge, but any urban area can only support a certain number of professionals dedicated to selling property. But has this point been reached, and what are the prospects for finding work in the sector?

Are we at the peak of London’s estate agent boom?

During the property boom, the number of estate agent jobs in London has consistently risen (more or less in line with underlying property values). In the UK as a whole, over half a million people are employed in the property sector. In London, there are over 2,600 estate agent branches, which earned a total of £1.1 billion in fees in 2014 – an increase of 23 percent from the year before.

However, are there indications that we may have reached a peak in the number of agents required to service the market as a whole?

New platforms are appearing which promise to allow buyers to do exactly that. This doesn’t mean that traditional estate agents are becoming obsolete. Instead, it has heightened the need for them to be efficient and give customers a better service. Estate agents have also benefited from the information provided by portals like RightMove and Zoopla, helping them to find property leads and serve their customers more effectively.

Positive prospects for estate agent jobs in London?

The new property platforms have also not led to mass lay-offs. In fact, the prospects for estate agent jobs in and around London could be quite bullish.

For one thing, this could be a golden age for estate agents who really know their area of the still-growing London property market. If firms can create distinct, trustworthy brands, estate agent jobs in London may well be there for the taking. The demand for luxury accommodation hasn’t seemed to slow, and firms that can serve a high income clientele will still do well.

New housing developments are also being created across London, while demand is being supported by favourable government policies, which have subsidised first-time buyers and reduced stamp duty. Outside the capital, towns in counties in the south-east have seen expansion of their own, providing a new source of jobs for estate agents.

All of this means that this is actually a pretty good time to enter the estate agent profession in London.
See the latest estate agent jobs in London and the Home Counties.

Article written by Matt Miel

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