The industry is already becoming the scapegoat for the nation’s housing and welfare woes, and there was no shortage of opportunistic politicians at this year’s party conferences looking to resonate with public discontent via a dig at developers and investors.
Public perception matters because negative stereotypes of the industry put it at risk of the heavier regulation imposed on investment bankers post-global financial crash.
It also feeds the narrative spread by Momentum, the left-wing grassroots faction of the Labour Party, which is campaigning to take control of councils in next May’s elections with pledges to stop regeneration projects it associates with gentrification and privatisation.
There is no doubt the industry can do better. Who is going to come up with a private rented sector model which is genuinely affordable for people renting out of necessity? Who is going to help cater for the huge need for affordable retirement living? If the sector doesn’t come up with solutions to the nation’s housing problems, it becomes very easy to be subjected to criticism.
However, the industry also needs to get better at communicating the enormous contribution it already makes to the UK’s economy and environment.
This edition celebrates some of the best industry collaborations, with projects ranging from a £1bn cancer hub dedicated to creating a cure for the disease, to a mentoring initiative attracting teenagers from less privileged backgrounds into careers in regeneration, and a developer-funded project to train prisoners in construction skills.
Collaborations between DJ James Lavelle and Allied London in Leeds and Greater Manchester mayor Andy Burnham’s ambitions to bring forward public-private partnerships in the region will hopefully offer some inspiration.
There is much to improve on, but there is also plenty to celebrate.
To send feedback, e-mail Louisa.Clarence-Smith@egi.co.uk or tweet @LouisaClarence or @estatesgazette
