WHO-IS-CHAMPIONING-THE-REAL-ESTATE-CAUSE

WHO IS CHAMPIONING THE REAL ESTATE CAUSE?

10.07.17

Newspapers continue to churn out headlines about the negative effects of property development and overseas investment on our society - but just who is spelling out the real facts about residential real estate at grass roots level? Who is fighting for fair home ownership and a positive investment climate?

In a political and business landscape that seems to air more and more loud, opinionated voices each day, the voice of property can be drowned out by the crowd.

Of course, the answer starts with the wide variety of industry bodies championing the real estate cause. Organisations such as the British Property Federation (BPF), the Investment Property Forum, the RICS and the Property Industry Alliance all do valuable work to challenge the government and push for change. But we’re now in an even tougher political environment than before the election and we need to make sure the voice of property isn't lost.

Despite reproach from the wider media landscape, the reality is that residential real estate has a market value of more than £6 trillion in the UK, according to the BPF - total equity now stands at over £4.8 trillion net of borrowing, equivalent to over 2.7 times the GDP of the UK.

Property is a significant driver of growth, a consistent wealth generator, a key provider of jobs and an arguably disproportionate source of tax revenue. By developing run-down properties to create outstanding new homes, the sector is attracting overseas businesses to our cities, in turn bringing even more jobs and tax.

Given these statistics, you’d think that the industry would be in a position of great influence. But every day, headline organisations have to fight to be heard over the UK’s weighty media machines. This means that on issues that are vital to property’s prosperity, we miss out.

There’s no way of knowing what the government will come up with next and another wrong move will shake our industry further. Overseas investment is a key point to consider. The UK media seems determined to inflate the belief that overseas investment is damaging to society and the development of cities, when in fact it makes our country stronger.

In fact, it helps us to create the city landscapes that we need and provides jobs. Overseas investment is now heading to the regions in a big way, providing opportunities to improve our cities that wouldn’t otherwise exist. If we don’t shout this from the rooftops, though, the wonderful roundabout of overseas money coming into the UK could stop at any time.

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