These numbers are the highest they have been in at least a decade. In fact, over the past ten years, the number of businesses has increased by 23.9%, while total market value has jumped by 100.7%. As a result, the average revenue per business has also increased by 61.9%.
After years of steady growth, the pandemic helped to supercharge the brokerage industry. Since the start of the pandemic, the number of active businesses has increased by 9%, market value is up 13.2%, and revenue per business has grown by 3.9%.
This strong historic performance is indicative of a housing market that has proven to be resilient when broader economic issues have caused other industries to struggle and has set the groundwork for yet more growth over the next three years.
As such, the data suggests that by 2025, the total number of brokerage businesses in the UK is forecast to increase by a further 4%, pushing the total value of the market up by an estimated 11.9% reaching a value close to £2 billion. As a result, the average revenue of the individual mortgage broker is also forecast to increase by 7.6%.
Jonathan Samuels, CEO of Octane Capital, commented: “The mortgage sector is the backbone of the UK housing market and so it’s hardly surprising that we’ve seen such phenomenal growth, not just during the pandemic property market boom, but for a sustained period of time.
"Of course, the current outlook for the market is far from that of recent years and we expect some turbulent times ahead.
"However, we’ve also seen how the property market has defied wider economic turmoil time and time again and even in the current landscape, we expect the mortgage sector to post further positive growth over the coming years.”
