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Housing boom isn't creating jobs - poll

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Housing boom isn't creating jobs - poll

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Published by Max Salsbury for 24dash.com in Housing and also in Development

Construction industry growth 'falls to eight-month low' Construction industry growth 'falls to eight-month low'

A majority of construction industry professionals believe that the increase in residential sales in the UK is not translating to jobs, a poll has found. 

The survey of over 500 sector top dogs by job site CareerStructure.com found that prospects were thought to be limited for graduates too. Nearly half of the respondents reported that there are not enough opportunities for young talent, which is contributing to a looming skills shortage.

Despite this, 28% of industry professionals not already in residential property claimed that they would consider a move into the market, suggesting there is appetite for increased opportunity.

A lack of confidence regarding job creation could be rooted in divided opinion on the sustainability of UK house prices. Half (49%) of industry professionals stated that they believe rising house prices in the UK are sustainable, but 77% of those acknowledged that this is only if measures are implemented to curb prices. A further 35% of industry professionals stated that house prices are not sustainable at all.

Rob Searle, commercial director, CareerStructure.com, said: “As UK property prices continue to soar, professionals are split on whether prices are sustainable. This division appears to be creating uncertainty around the potential for job creation, and in the face of a growing skills gap it's concerning that nearly half of industry professionals still don’t think that there are enough opportunities for graduates.

"Employers must work closely with government to combat this, and create the right paths to employment to ensure future supply of talent.”

Housing shortages were ranked as the number one reason for why UK house prices have surged, and nearly half (47%) of industry professionals believed that the government’s help to buy scheme is the right way to boost housebuilding, but a greater number (68%) believe that the government is not doing enough to support job creation off the back of the boom.

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