Why brokers don’t move around the UK

Ryan Bembridge

August 15, 2017

Modern technology and rising house prices have resulted in some brokers staying put in the same regions for longer, London & Country’s director of communications David Hollingworth has said.

He was speaking after think tank the Resolution Foundation revealed the UK workforce moves around for work 25% less than at the turn of the century.

Hollingworth (pictured) said: “The growth of modern technology allows people to do nationwide business wherever they are, as people are more used to dealing with things by email, over the phone or through Skype.

“Moving from a low to high price house price region would also be an inhibitor, though it can work both ways.”

The proportion of workers moving reached a low point in 2010 as people were less inclined to take risks with their jobs due to the financial crisis.

And Hollingworth reckoned this lack of confidence is still a factor today.

He added: “Economic uncertainty has not gone away, with Brexit and the elections etcetera.

“There are questions about houses prices now even though they’ve risen in recent years.”

As well as a growing number of brokers operating nationwide Hollingworth also spoke of those who sit at the heart of their community and get leads from local estate agents, however he added that this model has been around for decades.

Stephen Clarke, policy analyst at the Resolution Foundation, said: “Job mobility matters not just for the individual getting the pay rise but to our economy as a whole. On a basic level that’s about avoiding labour shortages, but more importantly in an economy nearing full employment, ensuring the talent and potential of individuals and firms doesn’t go to waste is essential to boosting productivity.”

Young people in particular lack mobility, as the share of people under-35 moving regions and changing jobs has fallen by 20% since the turn of the millennium.

Clarke added: “Not everyone can up sticks. Alongside encouraging more mobility among the minority of in-work people – such as young people and graduates – for whom it is often more feasible to move, we should be improving thinking on how people can move into jobs they are qualified for without uprooting their family’s lives.

“That involves thinking not just about progression and employment, but housing and transport too.”

Sign up to our daily email