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David Winsper
David Winsper
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David Winsper
Perhaps the root of any solution to stabilising the Built Asset market lies in the origins of Land, in that the solution has been ever present in law and The Law of Property Act 1925 and its link to The Crown and true ownership. Whilst in no way advocating a socialist state, this definition of Land does give weight in law to it being under the ownership of an ‘A Political’ organisation which if borne has the potential to stabilise the complete sector, pulling various vignettes together. Any proposed organisation solely responsible for Land must have complete autonomy and thus be independent from government, politics and industry bodies, but must be influential enough, through a holistic ability, to lead and join this fragmented industry into one sanguine direction. It must mute these constant Short Cycles (4-5 Years), Long Cycles (9-10 Years), Long Swings (20 Years) and Long Waves (50 Years) and prevent the ‘Hockey Stick’ Patterns, identified by Knoll et al, which plague true and stable growth. The BoE is perhaps best suited and positioned for this roll, given its mantra that of; “Promoting the good of the people of the United Kingdom by maintaining monetary and financial stability” And in that it is remote from the government of the day, including its politics and yet has the Data Set and Tool Set to expediently intervene in the Land sector, which invariably encompasses construction. Legislation for this sector, such as The Housing Act 1988 etc, is so fragmented that a new Act is required, to supersede all others, akin to the Equality Act 2010 usurping and codifying its numerous previous Acts and Regulations, but most importantly to simplify and facilitate procedure in a proactive fashion. Thus, when the weight and emphasis is passed to Local Authorities, there is parity across the UK and procedurally limited bureaucracy, for the Land Developers, irrespective of size, to thrive. A bi-product / Secondary function of this proposed autonomous organisation, once established, will be to merge all the threads of Infra’, Sustainability, Build Quality etc, so future towns and villages are not achieved piecemeal, but have a common thread and theme running through, for time immemorial. At the Macro level of course it will be self-propagating, releasing space to the Land market and trading space, for the Built Asset – Commercial, Residential, Retail etc ensuring its own targets are met and the ever elusive, but agreed figure of 250,000 Units pa. Whilst analyzing these vignettes, unduly influencing Land in terms of asset value, asset availability, asset definition etc, it is of note that individual changes whilst small in effect and gains, in combination, through a proposed holistic approach could benefit and stabilize the Land and thus the property sphere greatly, akin to Sir D Brailsfords theory and application of ‘Marginal Gains’. The concept of ‘Marginal Gains’ is not new, the approach is used in many sports and is now filtering through to business. An in depth analysis of this can be found in ‘Marginal gains: Olympic lessons in high performance for organisations’, Hall et al 2012 My Thoughts - http://www.tenanttown.com/imagesdw/TheWinsperGroup_HolisticApproachToProperty_AuthorDWinsper.pdf

From: David Winsper 07 May 2015 07:33 AM

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