Longer Term Vision Required for the UK Property Market

The UK has a number of important precursors for investment interest - a strong and stable democracy, transparent and well-managed financial institutions, a fair and independent legal system. In addition, London (and by extension the potential for a larger part of the UK) is a global centre of a number markets with great communication links - for people, goods and data. In respect of built environments, we also have some of the most talented planners, designers and construction experts in the world. One key weakness would appear to be short-termism in investment markets and in investors. The economic model for property and real estate needs to be modified to make long-term investment more attractive to all parties but particularly the investor. When the investor can understand and realise the benefits from the reduced cost of the long-term operations and maintenance of buildings and estates, then the opportunities to exploit resource efficiencies and introduce greater sustainability will not only attract their interest but provide a critically important step-forward for a global society under stress.

Andrew Comer