Midlands is the new hotspot for property professionals
RICS/Macdonald & Company Salary Survey 2019
- Midlands’ professionals see more new business opportunities in 2019 than national average
- Pay rises were awarded to more professionals in the region than the UK.
- Value of RICS qualifications and working to international standards rank highly amongst professionals
- 65% of respondents unlikely to move jobs in the next 12 months.
The 20th RICS Rewards and Attitudes Survey, has found that professionals in Midlands are more positive about the outlook for 2019, rating the value of professional qualifications and international standards higher than the UK average.
Predicting trends for 2019, 41% of respondents in the Midlands expect to see more new business opportunities, greater investment and advancement in new technologies and further commitment to their training and development than across the UK.
The positive sentiment of Midlands professionals is also echoed in the value they place on working to international standards and professional qualifications. 75% of all Midlands’ respondents to the survey held some form of RICS qualification, with all ranking the professional accreditation as the main benefit to holding RICS status. Furthermore, respondents reported seeing their salary increase from holding RICS accreditation and reported their career prospects were higher.
Additionally, 57% of those who hold RICS accreditation confirmed there was a clear benefit to working towards internationally recognised standards, such as International Construction Measurement Standards, which looks to provide clarity and consistency to cost reporting that increasing number of investors look for.
With the rise of new development activity in the region*, pay increases in the Midlands surpassed the UK average, with 66% of respondents receiving a pay rise last year. Furthermore, professionals in the region are less likely to leave their current job in the next twelve months and feel more valued by their company than what is being seen at the national level.
Nigel Mason, RICS West Midlands Regional Board Chair, commented:“RICS Professional qualifications, with our members working to international standards, have once again been seen to command a higher salary. The Rewards and Benefits Survey 2019 shows that activity in the Midlands is promising and respondents are generally more positive about the outlook for 2019. As we look to connect our region and build off the investment from the likes of HS2 and the Commonwealth Games, it is fantastic to see more professionals seeing the value in international standards that are key as we build intelligent sustainable future cities.”
P Moore, CEO of M & C,commented: “There is huge investment in infrastructure across the Midlands – with projects such as HS2 and Commonwealth Games boosting business – and the underlying demand for new homes is proving difficult to satisfy.
“On the whole, it appears that those on the front line are confident of the future, even though Brexit may produce a couple of twists and turns that will need to be navigated with care.”
*Details taken from the RICS Construction & Infrastructure Market Surveys: https://www.rics.org/globalassets/rics-website/media/knowledge/research/market-surveys/rics_uk_construction_and_infrastructure_survey_q4_2018.pdf
RICS promotes and enforces the highest professional qualifications and standards in the valuation, development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards - bringing confidence to markets and effecting positive change in the built and natural environments.