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Real estate industry most productive in the UK

Real estate and transport and storage sectors have proved to be the most productive sectors in the UK by gross value added (GVA) to the economy.

Analysis of gross domestic product (GDP) and average weekly hours worked showed that estate agents contribute £375 per hour worked to the economy.

In second place, transport and storage workers contribute an average of £82 per hour worked.

Wholesale, retail and motor vehicle repair rounded out the top three with £71 per hour.

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Warrick Swift, commercial director at software provider Property Inspect which conducted the analysis, said the results reflect the growth of the property market since the pandemic.

He said: "It’s unsurprising that real estate workers are at the top of this study considering the size of the real estate industry and its growth since the beginning of the pandemic. Estate agents, managers and other property professionals have been working too hard to keep pace with demand in a constantly shifting industry."

Productivity however, he added, is not reflective of overall effort.

He saidK "Every industry has had its challenges and this study doesn’t necessarily reflect on the level of effort or work of each industry, rather their productivity value to the economy overall.”

Despite ranking third for the number of hours worked agriculture, forestry and fishing industry ranked last in the study with £1 per hour worked. Hospitality (£10) and social security (£11) completed the bottom three.

All data used for the ranking came from the Office of National Statistics (ONS), including the GDP output approach and the Labour Force Survey.