Estate agent salaries increased by 8% in 2024-25, bringing the average salary to £27,000, according to an analysis of Office for National Statistics data. However, the property industry saw a 2.6% reduction in job numbers over the same period.
Sector-wide salary trends
The Telegraph’s analysis of ONS data revealed that doctors and train drivers experienced the largest pay increases, ranging from 20% to 30%. Estate agents’ 8% salary increase placed them among sectors seeing moderate wage growth during the period.
The construction sector recorded significant job losses, with the number of roofers and building technicians falling by more than 40%.
Recruitment market shifts
Property recruitment firm Deverell Smith reported in 2024 that basic salaries for estate agents, negotiators and senior negotiator positions had increased to £24,000-£30,000, up from £18,000. The firm indicated these higher salaries made entry-level positions more competitive for industry newcomers.
Minimum wage impact
Following the November Budget announcement, recruitment specialists warned that estate agencies may hire fewer junior staff due to minimum wage increases. Josh Rayner, Founder of Rayner Personnel, and Anthony Hesse, MD at Property Personnel, stated that property businesses would likely favour experienced staff as the cost of entry-level employees rises.
The Government announced the minimum wage would increase by 4.1% from April for workers over 21, reaching £12.71 per hour. Staff aged 18-20 will see an 8.5% rise to £10.85 per hour, while 16-17-year-olds and apprentices will receive a 6% increase to £8 per hour.
Market implications
The divergence between rising salaries and declining job numbers suggests consolidation within the estate agency sector. Higher wage costs combined with regulatory pressures may lead agencies to operate with smaller, more experienced teams rather than expanding junior recruitment.
