Pay rise season is coming: what it means for hiring in property

As the year draws to a close, property businesses across the UK are turning their attention to budgets, bonuses and pay reviews. For employers, it is a critical window to make sure salaries are competitive enough to keep strong performers and attract new talent in the new year. For professionals, it is the moment to understand what their skills are really worth. 

Whether you work in commercial real estate or residential property, getting pay right over the next few months will shape your hiring success well into 2027. Here is what employers and candidates should be thinking about now. 

Why the end of the year matters 

Q4 is when most organisations set headcount plans and salary budgets for the year ahead. Decisions made now determine how much room you have to reward existing staff, how competitive your offers will be, and whether you can respond when a rival makes a move for your best people. 

It is also when many professionals start reflecting on their own position. A disappointing pay review in January is one of the most common triggers for a job search, which is why the first quarter is consistently one of the busiest periods for property recruitment. Employers who benchmark salaries before budgets are signed off are far better placed to hold on to talent than those who react after resignations land. 

Commercial real estate: specialist skills come at a premium 

In commercial real estate, competition for experienced professionals remains strong across investment, asset management, development and finance roles. Many of these positions require specialist knowledge, established relationships and a track record that takes years to build, so the pool of suitable candidates is small. 

That makes retention especially important. Losing a senior asset manager or investment director can affect deal flow, client relationships and team morale long before a replacement is found. Package structure matters too: base salary is only part of the picture, and bonus schemes, carried interest, flexible working and clear progression routes all influence whether people stay or go. 

For commercial employers, the question to ask this season is simple: if a competitor approached your top performers tomorrow, would your current package be enough to keep them? 

Residential and rental living: a fast-moving market 

The residential sector, including build to rent, single family housing, student accommodation and later living, continues to evolve quickly. As operating platforms grow, demand is rising for people who combine property knowledge with customer service, operational and commercial skills. 

Roles in operations, leasing, resident experience and asset management are increasingly competitive, and professionals with operational experience in the rental living space are in high demand. At the same time, frontline teams are often the most exposed to cost of living pressures, which makes fair, transparent pay a key part of retention. 

Residential employers who review salaries against the wider market, not just against their own historic bands, will find it easier to build stable, high-performing teams. 

Four steps for employers before budgets are set 

For candidates: know your worth 

If you are heading into a pay review, preparation is everything. Understanding the market rate for your role, experience and sector gives you a credible, evidence-based starting point for the conversation. It also helps you decide whether your current employer is investing in you, or whether it is time to explore what else is out there. 

Free salary benchmarking from deverellsmith 

To help property businesses and professionals prepare for pay review season, deverellsmith is offering free, bespoke salary benchmarking for up to five roles. Whether you want to review your own salary, your team or your whole business, our consultants will build a benchmark around your actual roles, drawing on our specialist knowledge of the commercial and residential property markets. 

All we ask is a short in-person meeting so we can take a proper brief and make sure the results are genuinely useful. 

Get in touch with our team today to book your briefing before budgets are locked in.