There is certainly no hiding the fact that if you are at all involved in the property market this has been a bad 12-18 months or so. And for Polko it has been the same. 12 months rather than 18 so there's some consolation!
Things are looking up though and there is a detectable movement towards more activity in my world at least.
However, it's true that for most 2009 was a time of salary cuts, lower bonuses - notice they have been cut but not culled altogether, hardly the big depression that some forecast?? - and poor benefits for employees.
Today has seen the release of the much awaited 2010 Salary Survey by Macdonald and Company on behalf of the Royal Institute of Chartered Surveyors.
Highlights include:
- The average salary of a fully qualified property professional was £47,086 in the latest survey (which contained more higher level responses this year).
- Overall salaries appear to have fallen by 2.5% across all positions - 68% of respondents had suffered a fall in salary, 32% an increase.
- For those whose salary was greater this year, the increase was still a healthy 5.2% (compared to many parts of the UK workforce this is not bad at all).
- Bonuses were still paid, £4,750 on average this year, representing a gradual fall from the heights of 2007 when the average bonus reached 9,400.
The key issues of the report can be viewed by clicking here.
All in all, it's clear things aren't so bad that property sector employees are losing their jobs, cars, homes and having to think hard about where they live like these guys did during 2009...
A final comment. Things can't be that bad in property. Only 1% of survey respondents expected to or were planning to leave the sector in the coming year. Still not the right time to sell up and move to France yet people!
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