Research reveals “stark lack” of class diversity in UK real estate sector
Research reveals “stark lack” of class diversity in UK real estate sector, as other sectors sharpen focus
Bridge Group study publishes ten recommendations to help industry drive change
4 February 2025
A new independent study of leading real estate organisations has found they face a “stark lack” of socio-economic diversity, especially in senior roles. The study also shows that since the previous report on socio-economic background in real estate, conducted in 2020, the sector has been outpaced by peer industries like law and financial services in improving socio-economic diversity.
The research was undertaken by the Bridge Group, supported by the JLL UK Foundation, and in partnership with Real Estate Balance, a membership organisation working to improve equity, diversity and inclusion (EDI) in the real estate industry.
The study analysed over 10,000 employees across thirteen of the UK’s most significant real estate companies, explored how diverse the firms are by socio-economic background (SEB), the factors contributing to the different levels of diversity, and the actions that can be taken to advance SEB diversity in real estate.
Research highlights
Among those in senior roles, more than half (51%) are White males from a Higher SEB, while only 14% are from Lower SEBs.
An average of only 22% of employees are from Lower SEBs. This compares with 39% of the UK workforce, 29% in law and 33% in financial services.
On average, 31% of employees attended independent schools, compared with 6.8% nationally.
Employees from Lower SEBs who are also women and/or from ethnic minority groups, face compounded disadvantages.
Those primarily or wholly involved in investment management are less socio-economically diverse compared with those primarily involved in real estate agency.
Although many examples of committed leadership and positive practices were identified – including the emergence of apprenticeships as a driver of SEB diversity, targeted outreach to schools in disadvantaged areas, and the removal of restrictive hiring criteria – the study highlights that overall progress in real estate remains fragmented and “worryingly slow.” This is in contrast to leading firms in peer industries such as law, financial services and accountancy, which are acting collaboratively within their sectors to understand and unlock the advantages of increased SEB diversity.
The report draws on the increasingly robust business case for investing in actions to support more diverse workforces by social class. It also outlines ten recommendations to advance SEB diversity and inclusion within UK real estate, including raising awareness of the business and societal benefits of SEB diversity, standardising data collection, and embedding inclusion across organisational practices.
Given the practical and collaborative nature of real estate, as well as its sheer range of roles and entry routes, the research claims the sector now has an opportunity not only to match other industries, but could be leading the way.
At the launch, Nik Miller, Chief Executive of the Bridge Group, said:
“It has never been a more important time to talk about how class affects people’s prospects, and how businesses across sectors can benefit from more diverse experiences and perspectives in their workforce. This research is a stark call for real estate to redouble its efforts in this area, and to lead the way.”
Mark Stupples, Chair of the JLL UK Foundation, said:
“I hope that the impact of this research will be to encourage a collective and collaborative response to the lack of socio-economic diversity in the real estate sector. The evidence is clear that action is required, and positive steps needed to ensure fair access into the sector, but just as importantly cultural change to achieve career progression. Other professional sectors are leading the way, but given that real estate touches all of our lives, I am confident it can catch up if the sector takes on board the evidence and the practical recommendations provided.”
Sue Brown, Managing Director of Real Estate Balance, said:
“Real Estate Balance has been delighted to collaborate with the Bridge Group and JLL UK Foundation on this important new research. I’m greatly encouraged by the study’s ten recommendations, which provide a roadmap for real estate organisations and the sector as a whole to benchmark performance and accelerate change.
“Of particular note is the positive impact that increased socio-economic diversity can have on other EDI characteristics such as gender and ethnic background. I look forward to sharing the recommendations with Real Estate Balance members and supporting them to progress in this area over the coming months.”