Property will succeed in navigating political waters in 2019

No doubt about it – the political climate is febrile. Trying to predict what’s in store for politics in 2019 is indeed impossible, when we hardly know from day to day what the next plot twist will be in the Brexit saga and the new year looks set to kick off with the same uncertainty around our future relationship with the EU as characterised 2018, writes Melanie Leech, chief executive of the British Property Federation This uncertainty cannot, however, continue. The UK must reach a clear position as soon as possible. The current state of play is undermining confidence and is needlessly putting much-needed investment and development on hold. The short-term impact of this uncertainty on our sector’s capacity to deliver more high-quality homes – and to regenerate our town and city centres – is something we will continue to beat the drum about in 2019, in all corners of Whitehall and Westminster. We look to politicians of all parties to come together to provide a sound basis on which investors and businesses can plan with confidence. In tandem with addressing what is needed today, we are of course a long-term industry, with our eye on what the future holds for the UK. And, irrefutably, we are a critical partner to the government’s objectives of improving productivity, and economic and social wellbeing. And, perhaps even more importantly, while political and economic road bumps are likely ahead, we maintain a positive outlook and believe in the UK’s potential to remain a world leader. How we shape the country’s built environment will ensure this success. To name just a few, Wells Fargo, Facebook, Apple and Google are among the names of leading businesses to make significant commitments to the UK since the nation voted to leave the European Union. These companies evidently believe in the UK’s capacity to support their long-term future ambitions, and this could not be achieved without real estate investment to create high-quality workspaces and the homes and great facilities to attract a globally mobile workforce. The UK’s history reinforces this position of strength, demonstrating the country’s resilience in the face of both global and domestic uncertainty, and in the future we should expect to benefit from the same adaptability and resourcefulness. Our future is in our own hands – and as national politics continues to be dominated by the Brexit process, local leadership up and down the country will be critical. The BPF has been working tirelessly to foster stronger relationships between our regional governments and the real estate industry, to ensure that we deliver the infrastructure, buildings and places that will support business performance, accessible housing, a good quality of life and more sustainable communities. Retail will continue to be at the heart of our communities. In one way or another we are still a nation of shoppers. I suspect that store closures on the British high street will continue to hit the headlines in 2019 in reaction to changing shopping habits. We need a grown-up approach – pitting retailer against property owner will get us nowhere. Real success will come in the form of retailers, property owners and local authorities working together to ensure that physical retail can adapt successfully and be part of a wider mix of uses, which will characterise the vibrant 21st century town centre.