Chapter

The property industry and the construction of urban spaces: crisis or opportunity?

Tim Dixon

in The Future of Sustainable Cities

Published by Policy Press

Published in print October 2011 | ISBN: 9781847426673
Published online May 2012 | e-ISBN: 9781447305545 | DOI: http://dx.doi.org/10.1332/policypress/9781847426673.003.0005
The property industry and the construction of urban spaces: crisis or opportunity?

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This chapter explores the current shape and form of the UK property industry and new approaches to urban regeneration in an era of change, focusing on both commercial and residential development. It examines key players and patterns of land and property ownership and the causes and implications of the credit crunch. It assesses a variety of development and investment vehicles and their drivers, including responsibility and sustainability agendas and frameworks for measuring the impact of urban regeneration. The chapter concludes by examining, in light of the recession, the future evolution of the UK property development and regeneration industry. It argues that, despite the credit crunch, public sector-led delivery in partnership with the private sector will continue to be a key element in the property industry in the UK, although there are serious doubts about whether existing volume house building models are sustainable enough to deliver the required numbers of homes. Medium to longer term changes are likely to include a stronger focus on innovative ownership, financing structures, and environmental issues, influenced by corporate responsibility agendas as well as legislative change.

Keywords: housing; property development; property industry; responsible property investment; sustainability; urban regeneration

Chapter.  8738 words.  Illustrated.

Subjects: Urban and Rural Studies

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