Property sector set to shed more than 127,000 jobs by 2030 - research

The UK’s real estate sector is set to lose some 127,320 jobs by 2030, according to a new report by Arden University.

This comes as a result of automation and technological advances in the workplace.

The university’s 2030 Workforce Report revealed that, by 2030, nearly a third of all jobs (30%) in the UK could be eradicated due to automation changing the workforce.

The research also highlighted a digital skills gap, with only a minority of employees currently up to speed and comfortable working with developing digital technology, despite more jobs set to involve working alongside or in tandem with new technologies in the future.

Focusing on the real estate sector, the research found that just over a quarter (26%) of people believed they had a digital skills gap and weren’t prepared for the technological changes at hand.

Carl Lygo, CEO and Vice Chancellor at Midlands-based Arden University, said: “As automation begins to play a greater role in economic production, it will disrupt these industries the most significantly, with the effects being felt across society and the nation’s economy.”

He added: “Upskilling is most urgent – particularly for the employees who may not have the digital skills to prepare them for the evolving jobs of the future. It is now up to education institutions to ensure they are teaching and preparing the next generation for the jobs of the future and not solely for the jobs of today.”

Lygo says the pandemic has magnified the shift towards automation, with the rise of home-working and online socialising.

“Yet whilst much of the population becomes ever more proficient, for some, a lack of technological proficiency or access risks them being left behind,” he claimed.

“As digital technology plays a more prominent role in most jobs, and more employees work alongside tech, basic digital literacy will become an essential skill, on a par with reading and writing. As more jobs require digital skills, upskilling the population is a key priority.”

He concluded: “It is without a doubt that automation will result in a foundational change to the landscape of work. Higher education institutions now have a very important job to do to ensure that the nation is ready and prepared for the jobs of the future.”