20,000 potential new green jobs for Reading by 2050

By STAFF WRITER news@wokingham.today

South east still home to highest number of estate agents

THE south east is still home to the highest number of estate agents.

New figures show the area accounts for 29% of the UK total with an increase of 11% in the past year.

However, with the London market seeing a more subdued level of pandemic market activity, the region sits mid-table when it comes to the annual growth in agency numbers.

This accolade goes to the north east region where the number of agencies has increased by 14.1% on an annual basis.

In the north west, estate agency numbers rose by 13.5% in the last year, and Yorkshire & Humber saw an increase of 13.4%.

This marks impressive annual growth given that, in the last five years, the number of agencies has increased by 20.6%, which means half of this growth has come in the past year alone.

In fact, the figures from GetAgent show that there has been a 15.4% increase in agency numbers when compared to the pre-pandemic market in 2019, demonstrating the influence that the pandemic property market boom has had on the industry.

To put this annual rate of growth into perspective, between 2017 and 2021, there was an average annual increase of 456 agencies per year.

However, between 2021 and 2022, the number of agencies across the UK climbed 2,355.

Mal McCallion of GetAgent.co.uk which compiled the figures said: “It’s no coincidence that the number of estate agency branches has increased so notably since 2019, after which the pandemic market boom spurred an overwhelming level of activity.

The nation’s agents have most certainly decided to make hay while the sun is shining in this respect, but with the market now starting to return to normality, the challenge facing them is how they remain competitive, and profitable.

The best agents, offering the best service, are those most likely to triumph, as they continue to guide sellers through increasingly difficult market conditions to the ultimate goal of a sale.”

READING needs to take action to maximise the potential of a green jobs revolution as we move towards Net Zero, according to a new report.

REDA (Reading’s Economy & Destination Agency) is endorsing a target of 20,000 new roles by 2050, something backed by businesses and the education and training community.

It is part of the green skills road map for Reading, which was launched at Stantec’s HQ in Reading.

They say that if the UK is to achieve Net Zero, jobs in construction and installation industries will be needed, particularly for retrofit, energy efficiency and creating electric vehicle infrastructure.

Reading, they add, has a real opportunity to capitalise on projected future demand for services linked to a low-carbon economy.

To achieve this 20,000 jobs target, the report advises that direct intervention in key sectors of the economy is required.

It will also help minimise the employment fall out of automation. Towards a green jobs and skills roadmap for Reading identifies the interventions in the economy locally that could generate a potential 20,000 green jobs in Reading by 2050.

The report was carried out by Shared Intelligence for Reading’s Economy and Destination Agency (REDA).

The initial analysis looks at the Low Carbon and Renewable Energy Economy (LCREE). The report identified the creation of 5,600 jobs in LCREE by the year 2050 which is double the ‘do nothing’ projections and ten times the number of LCREE jobs in Reading today. However, the ‘green economy’ is a much broader definition, states the report which identifies an alternative set of sectoral employment data which puts the current scale of ‘Net Zero’ activity in Reading today at 4,200 jobs (much higher than LCREE data). Applying the same multiple of growth in demand for jobs would indicate 20,000 potential Net Zero jobs by 2050.

In order to achieve maximum economic advantage from adaptation to climate change, the report focuses on Reading’s most dominant sectors where it has a locational advantage, along with sectors with the greatest low carbon ‘job density’ and recommends four priority sectors as providing room for green job growth locally: electricity and gas, construction, information and communications and professional and scientific.

To unlock this green job growth will require upskilling, training and education at every level. Specifically, it identifies four key sectors for intervention:

ELECTRICITY AND GAS - reactive and short-term approach. This sector has high LCREE job density and strong demand from employers for skilled trades for retrofit, driven by national policy, regulation and investment. These jobs are well-suited to mid and late-career workers who are attracted to re-training to exploit the spike in demand.

CONSTRUCTION - a longer-term strategy which ‘leapfrogs’ shortterm skills needs and focuses on ‘succession planning’ with trade organisations, schools and education partners to respond to future needs to create the next generation of construction skills via schools and the STEM curriculum.

INFORMATION AND COMMUNICATIONS: an area where longer-term initiatives could be formed with schools, inspiring and educating them about new occupations and careers and what they can do to get there.

PROFESSIONAL, SCIENTIFIC AND TECHNICAL – the secondlargest sector with huge projected growth in demand for workers in low-carbon services starting now. Action will require better intelligence about the activities and future plans of local employers to understand where in this sector LCREE and other green jobs are located.

The scale of this sector within Reading’s economy and the presence of global market leaders provides a major opportunity for impact.

REDA says the report is a first step to creating a roadmap towards green jobs and skills.

Nigel Horton-Baker, executive director at REDA, said: “The race to Net Zero by 2030 means a race to create 20,000 low carbon and renewable energy jobs in Reading by 2050.

“With the UK’s Net Zero Strategy to become carbon neutral by 2050, the need to transition to low carbon industries, invest in

Up to 20,000 new green jobs will be created in the Berkshire economy over the next 25 years Picture: Maria Godfrida from green technologies, and adapt the labour market is clear; however, the implications in terms of local economic policy and the most effective local actions are not as well understood.

“Beyond the need to reduce carbon emissions to avert the worst impacts of climate change, growing the green economy is an important employment and social mobility issue for Reading.

“This report is the starting point for understanding this local picture; the potential for green jobs given the economic makeup of Reading; the threats of automation to existing low-skilled jobs and how new green jobs could reduce that threat; and how active targeting of Reading’s key economic sectors could bring the maximum benefit to the economy as we seek to create benefit from the need to adapt to climate change.”

He added: “I am delighted that Thames Valley Chamber of Commerce has confirmed that they will be submitting our research as evidence to Government as part of the region’s Local Skills Investment Plan (LSIP) report to secure devolved local training budgets to meet the future needs of the economy in Reading.” n The report is available to read at https://issuu.com/readingbid2014_19/ docs/reda_green_skills_report