The property industry involves the planning, design and construction, buying and selling, development and management of property. It is the sector where finance and the built environment meet.

Recruitment, pay and conditions in the sector are especially dependent on market conditions, which can be difficult and challenging at times. There are often regional variations in the property market and in some areas letting management, repairs and maintenance hold up better than estate agency and surveying.

There continues to be a demand for skilled graduates in the property-related professions. In the long-term it is likely that there will continue to be a shortage of property, with demand outstripping supply.

What kind of work can I do?

The property industry is a diverse sector employing people with a variety of skills, involved in all aspects of property across commercial, industrial, residential and agricultural sectors. It can be divided into the following main areas:

• Agency - providing advice on the acquisition, development, letting or disposal of property.
• Architecture - all aspects of building design.
• Commercial property - includes offices, shops and warehouses.
• Construction - projects related to residential housing, commercial projects and infrastructure work.
• Consultancy - advising clients on the best solutions for their property needs.
• Dispute resolution - providing advice and representation in rent reviews, lease renewals and planning disputes.
• Environment - advising on the environmental implications of all kinds of projects.
• Engineering - structural, mechanical and electrical engineering work.
• Facilities management - managing issues relating to buildings, occupiers and services.
• Investment - the acquisition and disposal of property that is bought as an investment.
• Property management - the day-to-day management of property, managing clients' portfolios, finding tenants, arranging repairs and collecting rent.
• Planning - in relation to new or existing buildings, regeneration, renovation, conservation, and major redevelopment schemes.
• Project management - overseeing all activities on property-related projects.
• Property development - the redevelopment or refurbishment of existing buildings.
• Surveying - including a variety of specialist roles such as building, quantity (advising on procurement for construction work) and rural practice.
• Valuation - assessing the value of property, land and business assets.

What's it like working in this industry?

Salaries vary considerably according to the location, sector and size of the employing organisation. Salaries are normally higher in London and in specific sectors such as consultancy and investment.

Lower salaries tend to be offered by smaller or regional companies, local authorities and not-for-profit organisations. The gap between private and public sector pay has narrowed somewhat over recent years. 

An element of commission is common practice in the residential and commercial sectors.  

The average graduate starting salary is around £20-24,000 (plus 10-15% London weighting if appropriate).

The industry has an older than average workforce and the majority (59%) of the property workforce are male (Asset Skills Property Fact Sheet, 2011).

In 2010 almost a quarter of newly qualified surveyors were female and 30% of current student members of the Royal Institution of Chartered Surveyors (RICS)  are female (RICS-360, 'Women in Surveying', 2011). RICS and the Association of Women in Property (WiP)  are working together to try to increase this proportion through mentoring schemes.

How big is this industry?

There are currently 360,000 people employed in the property and housing sectors working in over 105,000 workplaces. Over 55% of organisations employ ten or less staff (Property Services Framework, Asset Skills, 2011).

The property negotiation and management sectors have the largest share of the market, followed by valuing, surveying, town planning, and estate agency.

Asset Skills  report that the majority of companies expect to 'grow moderately' over the next three years, with only 17% expecting to 'grow rapidly'.

There has been a significant shift in the sector, which has seen employment move from construction and property sales to lettings and the social housing sector. 

Where can I work?

The property industry offers opportunities throughout the UK, especially London, where the residential and commercial property markets are most buoyant and international companies base their operations. London continues to be a major international centre for property investment and portfolio management.

Property is a global industry and there will continue to be opportunities to work abroad, especially for qualified and experienced professionals.

For information on working overseas, see opportunities abroad.