Growth in the UK’s Housebuilding Market: What That Means For Executive Careers

Despite a minor stall last year, the UK residential market is growing. In the past 15 years, house prices in the UK have increased by almost 50%. In London, that figure is closer to double.

The steep prices have made residential property highly profitable, motivating private investors to invest in housebuilding. Likewise, successive governments in the UK have strongly encouraged residential construction in an attempt to make it easier for people to get on the property ladder.

So, even though a rollback in approved mortgage applications, higher interest rates, and higher material costs, last year forced some contractors to roll back projects, the upmarket estate agent Savills urged that the worst was over.

This market presents a huge opportunity for management and executive personnel in the residential construction sector looking to advance their career.

Skills supply and demand

A growing market means that people with executive and management skills and experience will increase in demand. Last year alone, pay in the construction sector rose by over 4% across the board,

Furthermore, this is amidst a general skills shortage in construction, further increasing the demand for skilled professionals – especially as many retire and leave the workforce.

The increase in market demand isn’t currently matched by an increase in supply, meaning that the wages of many executives might not presently reflect market value. In other words, firms are willing to pay more for people with the right skills, and wages are getting more competitive.

Opportunities

More private and public sector investment means more job openings, not just in terms of pay (as previously mentioned) but in other ways.

In addition to pay increases, many companies are offering employee benefits such as flexible working hours, upskilling schemes, and other forms of employee compensation in an attempt to attract and retain top talent.

Opportunities are also opening up regionally as more investment is poured outside of the South East. This presents an opportunity for executives and managers to explore new areas and take advantage of the growth in those regions.

Making the most of this

Navigating a job change can be challenging in any industry, but it’s especially tricky in construction, where corporate and personal relationships are key.

One of the biggest challenges is the need for discretion when changing careers. You may not want your current employer to know you’re looking to move, as it could put your current job at risk.

Likewise, you may not be able to leverage your present network in light of that. Building relationships and networking are critical in the construction industry, but when you want to make a change, you may not want to risk letting others know.

In this context, Pinnacle Recruitment is a trusted partner for skilled management and executive personnel who want to take advantage of these new opportunities.

We have over 20 years of experience recruiting in construction and an extensive network of contacts to match that. We can help you connect with potential employers who are a good match for your skills and experience.

Discretion is our top priority, so you can be confident that your job search will be handled with the utmost confidentiality. This can take some pressure off you and help you feel more comfortable exploring new opportunities.

We’re also committed to treating candidates respectfully and giving them feedback throughout the job search process. This means that even if applications fail, you’re well-positioned for the next one.

So, if you’re looking for a partner who can help you navigate the challenges and opportunities of the UK residential sector, look no further than Pinnacle and reach out to [email protected]