The chancellor Rishi Sunak yesterday extended cash incentives for hiring new apprentices as part of a £500m jobs support package.
Bonuses of £3,000 for every apprentice a business hires ended in September, but Sunak has prolonged the scheme by four months until 31 January 2022.
In his speech for the Conservative Party Conference yesterday, Sunak said: “I want to make sure our economy is fit for the future and that means providing the support and skills people need to get into work and get on in life.”
On the back of the chancellor’s speech, Nathan Emerson, Propertymark’s CEO, is confident that the extension to the apprenticeship incentive will help boost the number of young property entering the property sector, including agency work.
Emerson said: “During the time that the apprenticeship incentive was increased to £3,000 for employers, Propertymark Qualifications saw the number of estate agent apprentices registering for their qualifications quadruple compared to the previous year.
“Now that the chancellor, Rishi Sunak, has announced an extension to the funding which will remain available until January 2022, we’re excited to see more young blood entering the property sector which in turn will help it continue to flourish and provide youngsters with the stepping stones to enter the exciting world of estate and letting agency.”
Comments (10)
Average age of agent in UK 23 years of age. And 40% of agents change job every 18 months. That is why software, especially in the letting vertical is replacing so many agents, the boring mind numbing repetitive tasks are being shouldered by machines. Probably those apprentices would be better off getting into tech companies rather than estate agency which is following banking, not so long ago Lloyds had 2,500 physical branches, now it has 800 and dropping, but Lloyds still has plenty of fintech work for those who have the digital skill set.
They’ll earn more if they enter the exciting world of HGV lorry driving.
Yes they will .
I left EA as I did not find doing valuations on a Saturday morning or 7 pm at night particularly thrilling.and having the same discussion about why the vendors thought the house was worth than it was and having the same conversation about fees.
Or showing someone round a house or flat.
EA is not less repetitive or boring than driving
Issue will be how many w8ll stay.
Salaries are not great I think I read recently the average negs salary is 35k which is not a lot for the long hours and weekends often 6 days a week.
£35k seems high for an average neg’s salary but I am sure you are right.
Whether they stay or not, having an opportunity is the important thing IMHO.
It’s that wonderful use of the word “average”, AAA. That’s a figure that many Managers won’t achieve ‘oop North.
fair point
I would have been delighted to earn 35k as a neg, I suppose it depends on area though.
Yes they will .
I left EA as I did not find doing valuations on a Saturday morning or 7 pm at night particularly thrilling.and having the same discussion about why the vendors thought the house was worth than it was and having the same conversation about fees.
Or showing someone round a house or flat.
EA is not less repetitive or boring than driving
I really like this scheme. If you believe in the future of estate agency anything that can be done to help younger folk to learn our trade should be encouraged.