As we enter a fresh decade full of possibilities, and talk no doubt abounds of “2020 visions”, Diary thought it would enter the aspirational spirit and make a call for positive change in the real estate sector. Or perhaps it was faced with the task of putting a page together for early January by mid-December, so figured that some new year’s resolutions would do the trick. Either way, it asked its colleagues what they would like to see from the property industry in 2020 – and these are the results.
Reform business rates
Sure, it’s about as likely as the new government tabling a proportional representation bill because it feels the current system doesn’t reflect support for smaller parties, but the industry must continue to call for root-and-branch business rates reform. It should be a no-brainer – if only to ease the relentless burden on the beleaguered retail sector – but, alas, it’s too important a revenue stream for the cautious Treasury to put at risk. Endless transitional relief programmes are far more likely – but it doesn’t hurt to shoot for the moon.
Build bridges
…and roads, railways, tunnels, runways, and so on. The Conservative manifesto was thick with promises of infrastructure investment. Will it come? Will it include HS2? Will Heathrow Terminal Five be thwarted by a blond man lying in front of a bulldozer? Watch this space…
Commit to housing and the high street
Elsewhere in the Tory manifesto there were 18 references to housing, five to planning, two to the high street and one to modern methods of construction. Action on all of the above is needed, while we still have places we can actually live and shop. Diary recently visited Bamberg in Germany, and the thriving C&A was yet another reminder of all the household names we have lost from British town centres. We will no doubt be mourning more by the end of 2020, but it doesn’t just have to be charity stores and coffee shops taking the empty units – canny innovations like pop-ups, food halls, escape rooms, VR bars and more can make our high streets vibrant once again.
Spice up your building tours
It is the fourth floor now and all Diary has seen is slabs of grey, pools of muddy water and, if lucky, a nice view… welcome to the building tour, a rite of passage for all property journalists. But we need more visuals to get us truly excited about your buildings. Wandering floor after floor does not give us an insight into how innovative your project might be. Why not add some lights, some images, a staff member in a gorilla suit – anything more creative. You have a blank canvas. Use it to impress.
Keep fighting the climate change fight
It took a 16-year old girl to shake up the world, let alone the property sector, about the climate emergency. But in 2019, the industry rallied for real change. A group of more than 20 real estate leaders with more than £300bn of assets under management have signed a commitment that pledges to take real action and to share and showcase how they plan to get to net zero. And last month, the Bank of England outlined detailed plans to stress-test financial institutions for their ability to cope with climate change. It will also investigate the impact of climate change on real estate values, which should spur the sector on in 2020 to make even bigger changes. Do it for Greta.
Talk more
On first reading this might seem more of a given than a resolution in a sector that loves to talk. But after the startling results of our mental health survey twinned with the incredible response to our mental health edition, Diary hopes that 2020 can ring the changes in terms of how openly and comfortably we all discuss mental health and the ways it impacts people at home and work. We all know the phrase “it’s good to talk”, let’s make sure we don’t limit the conversation.
Get a grip on tech
As the tech sector matures and becomes an increasingly embedded element of real estate, there is a danger that those who “get it” assume everyone else does, given the fact they often surround themselves with other people who “get it”. This is not the case. With most of the industry in agreement that tech is crucial, but having no real idea on how to best implement it, there is still so much education to be done. Let’s make 2020 the year we make great strides in getting everyone up to speed.
Embrace inclusion
This should, by now, go without saying – not least with everything EG has done on diversity in the past 12 months. So we will be brief. Treat people equally, fairly and well. End of.
Practice predictions
Here’s one for a year down the line. Come the end of 2020, Diary hopes our requests for predictions for what lies ahead in 2021 will be received calmly (ordahhhh!). While everyone wants a go at penning a treasured nugget of information, the frenzy that ensues across the sector to get a line in can be overwhelming. There is also surprising confusion as to what writing a prediction might involve, as the fear of sticking one’s head above the parapet sets in, and clichés abound as a result. Let’s hope nobody is “cautiously optimistic” next year.
Have fun
This might just be a semi-humorous, sideways-glancing property magazine page talking, but – for all the sociability of the sector – we can at times take everything a little, well, seriously. There’s room for a bit more playfulness, more joy – more fun. And not only so it’s easier to write Diary each week.
