London Real Estate Dissertation

Investigation into the Impact of Government Regulation on the London Real Estate Market

Dissertation Title: Impact of Government Regulation on the London Real Estate Market. Persistent challenges in the UK’s and particularly London’s real estate market are commonly attributed to the inelastic supply of housing or shortage of housing. The resulting escalating nature of the property prices in London have however attracted a considerable amount of attention from policy makers. The presented research study builds on the existing body of research and critically examines seven specific policy measures designed to address the problems in the London’s real estate market. The examination relying on the descriptive as well as inferential (Pearson’s correlation test, multi-linear regression analysis) methods revealed that stamp duty rate and Get Britain Building represent particularly effective strategies, a combination of which can be used in the future to further stimulate the development of the London’s real estate market.

London Real Estate
London Real Estate

The main aim of the presented report is to critically examine the extent to which government actions affect the real estate market in London. For the purposes of this study, the main research aim can be broken down into the following set of interlinked research objectives:

  • To review regulatory measures and government initiatives in the period from 2000 to 2015 that influenced the real estate market in London
  • To examine the practical effects of specific government actions on the real estate market in London in terms of housing prices, housing supply, housing demand, availability of social housing and rent values
  • To evaluate the gap between intended and actual affects of particular government actions on the real estate market in London

London Real Estate Dissertation Contents

1. Introduction
Aim and Objectives
Rationale
Structure

2. Literature Review
Regulatory Measures and Housing Market
Trend Towards Homeownership
Affordable Housing
Characteristics of London Real Estate Market

3. Methodology
Research Strategy
Research Method
Data Collection
Data Analysis
Limitations

4. Results and Findings
Overview of Real Estate Market in London
Pearson’s Correlation Test
Multilinear Regression Analysis
Overview of Key Policy Measures
Stamp Duty Rate
Help to Buy
Localism Act
Get Britain Building
Social Housing Policies
Analysis of Impacts of Policy Measures on Real Estate Market in London
Stamp Duty Rate
Help to Buy
Localism Act
Get Britain Building
Social Housing Policies

5. Discussion

6. Conclusion
Practical Implications
Limitations
Further Research

References

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UK Construction Skills Shortage

Alleviating Skills Shortage Concerns within the UK Construction Industry

Since overcoming the recession period in the mid 2000’s the construction industry has had significant levels of growth and is an in demand sector within the UK’s economy. In order for the demand to be met by the Industry it requires a significant amount of skilled workforce to cope with the current great strides in growth. This is however creating a big concern within the industry as it is believed that the supply of skilled workforce will be unable to meet the demands which are set out and the construction industry is facing a barrier to progress further. The purpose of this study is to find possible solutions on how the ever growing skills shortage can be implemented and improved by identifying what the cause is behind the skills shortage is and what initiations are in place to overcome these at present. This research provides an overview of the skills within the UK construction industry and where the possible problems lie in terms of the ever growing skills shortage.

UK Construction Skills Shortage
UK Construction Skills Shortage

The author carried out research with the aid of literature which has been reviewed and carried this research further by conducting an interview to gain a view of professionals within the industry on the current situation and possible solutions. The main findings from the research were that the respondents believed a skills shortage existed within the industry and if the current situation were to continue then a barrier for the industry to grow would be faced in the near the future. The reasons which were gained from the research was mainly that the industry was not attractive enough to potential new recruits and the lack of opportunities to be a part of the sector are limited. The main conclusion from this study is that in order to overcome the current skills shortage problem within the UK, the industry needs to invest from within in order to enhance the attractions which could possibly attract new recruits within the industry.

Dissertation Objectives

  • Review where, why and how this problem has occurred
  • Examine the demand for the need of skilled workforce with in the industry
  • Identify methods in which the skilled workforce can be increased
  • Provide recommendations on how this problem can be resolved

1 – Introduction
Rationale
Aim
Objectives
Structure

2 – Shortage of Skills
Background
Construction Industry Overview
CIOB Surveys in Skills Shortage
Changes in Policies
Construction Industry Training Board

3 – Research Methods
Research Approaches
Quantitative Research
Qualitative Research
Qualitative and Quantitative Research
Literature Review
Questionnaire

4 – Data Analysis and Discussion
Sample Size and Response Rate
Structure of Questionnaire
Review and Discussion of Questionnaire
Introductory
Skills Shortage
Apprenticeships and Training
Discussion and Evaluation of Research
Summary

5 – Conclusions and Recommendations
Research Aim
Satisfying the Objectives
Research Limitations
Recommendations

Bibliography

Appendix
Questionnaire

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Dissertation Managing Project Complexity

The Importance of Experience in Project Managers when Managing Project Complexity – A Study into the UAE

Traditionally, the success of a project lays on the shoulders of project managers and its achievement is constantly measured by the properties of cost, time and quality, which appear to be a simple way of measuring within the construction industry. Interest for project management is becoming fundamental. Yet, projects keep on failing at an astounding rate. This research has investigated the education level of project managers in managing project complexity, by understanding the current educational level of project managers and also to understand whether advanced education is required before achieving the designation of project manager.

Managing Project Complexity
Managing Project Complexity

This dissertation also investigates the leadership qualities and skills required for project manager to handle complex project. This research was done in 2 steps; first step of the research is to review the literature. The literature review consists of project success, complexity, background experience, skills, leadership qualities and education. Second step is to conduct an online survey by preparing 20 questions and is sent to 50 selected project managers and directors of different companies and sectors. Out of 50, 31 responded to the survey.

After analyzing the results from survey, it was found that most of the project managers have not achieved any advanced education before achieving the designation and their current education emphasized more on engineering – technical aspects and less on management aspects. The project managers who had advanced education were given more importance to hard skills (which are scope, time, quality and cost) and soft skills (which are communication, social, conflict management, etc.).

In this dissertation, many project managers had different view on project complexity. However, most of them stated that the factors relating to complexity are due to financial problems, uncertain designs and no proper construction details. Finally, the dissertation has been concluded by saying that advanced education is required for project manager to manage uncertainty and complexity. However having experience is one of the most important factors in addition with education for project success.

Dissertation Objectives

  • To investigate the educational level in project managers and to understand their abilities in adapting with change in project complexity
  • To understand the skills and experience needed to become a project manager and for project success
  • To measure project success in complexity
  • To understand the leadership qualities required for project success

1 – Introduction
Background
Rationale
Aim
Objectives
Research Methodology

2 – Project Success

3 – Complexity
Introduction
Complexity in Construction
Measuring complexity in construction

4 – Project Manager’s Experience and Skills Required for Project Success
Project Manager’s Experience
Project management skills
Required skills for managing complexity

5 – Leadership in Project Managers for Project Success
Leadership in Construction Industry
Different Leadership challenges faced in Complexity
Leadership Styles and Competencies in Construction
Political skills, Leadership and Project success
Modern Leadership in Construction Industry

6 – Education for Project Managers
Challenges faced in project management training and education
Evolution of project management and project managers
Approaches in educating project managers
Advanced training in educating project manager

7 – Research Methodology and Design
Research Methodology
Survey Questionnaire

8 – Data Results and Analysis
Data Results
Data Analysis

9 – Conclusion and Recommendations
Summary
Recommendations

References

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I do hope you enjoyed reading this post on Importance of Experience in Project Managers when Managing Project Complexity. There are many other titles available in the construction dissertation collection that should be of interest to construction management students and building professionals. There are many dissertation titles that relate to other aspects of construction such as project management techniques, environmental management, building and construction methods to name a few. It took a lot of time to write this post and I would be grateful if you could share this post via Facebook and Twitter. Feel free to add your thoughts in the comments section. Thank you.

Real Estate Dissertation Dubai Property Values

Real Estate Dissertation – Impact of Services and Facilities on Dubai Property Values

Title: Real Estate Dissertation Dubai Property Values – Dubai’s real estate market has in the last decade experiential significant changes that substantially affect market prices. During the global financial crisis, this emirate saw one of the worst housing crashes across the world. While real estate prices have gradually rebound especially in the residential sector there is still significant interest among investors to enhance the value of their properties. Accordingly, this study set out to critically investigate the impact that services and facilities have on residential property prices in Dubai. Both community level and building specific services and facilities such as transit systems, recreational parks/spaces, and retail centers, swimming pools car parks and security were taken into account.

Real Estate Dissertations
Real Estate Dissertations

A mixed method approach involving the use of both quantitative and qualitative data was adopted in the study. Qualitative data was collected from randomly selected tenants and landlords/investors in four key residential areas of Dubai. The study also finds that despite the positive impact of services and facilities property returns may be eroded by the significantly high service charges and hence the need for competitive outsourcing of property/facility management services. Some discrepancies between tenant and investor preference for services and facilities is also noted and hence the possibility of mismatched demand and supply of these amenities.

Dissertation Objectives

In consistence with the above background information, this study seeks to critically investigate the impact that services and facilities have on property values in the Dubai’s real estate market. The findings of the study will inform developers and investors on strategies that they can employ in order to ensure that their properties are optimally valued in the housing marketing and therefore profitable. In order to meet the above general aim the following specific objectives will be pursued:

  • To investigate the extent to which investors and tenants in Dubai are willing to pay higher prices for properties with enhanced services and facilities
  • To establish the influence that availability of services and facilities has on demand for residential properties in Dubai
  • To establish the extent to which services and facilities are major determinants of property values in Dubai
  • To identify and analyse the most valued services and facilities in Dubai’s real estate market

1: Introduction
Research background
Research rationale and problem statement
Research aim and objectives
Main research question
Significance and justification of the study
Overview of research methodology
Structure of the study

2: Literature Review
Relationship between services, facilities and property values
The modern urban theory
Quality of the building infrastructure and facilities
The importance of property management services
Influence of services and facilities on housing demand
Demand for services and facilities
Internal facilities and neighborhood qualities
Impact of incomes on services and facilities preference
Determinants of property values
Demand and supply
Structural and service attributes
Tenant preference for various services and facilities

3: Research Methodology
Research design
Philosophical position
Research approach
Research strategy
Choice of research instrument
Sampling method
Data analysis technique
Research ethics

4: Findings and analysis
Demographic analysis
Relationship between services and facilities and property values
The influence that availability of services and facilities has on demand for residential properties in Dubai
The extent to which services and facilities are major determinants of property values in Dubai
The most valued services and facilities in Dubai’s real estate market

5: Conclusions and Recommendations
Willingness to pay premium prices for services and facilities
Influences of services and facilities on demand for property
Most valued services and facilities in Dubai’s real estate market
Recommendations
Suggestions for future research

References

Appendices
Survey Questionnaire

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I do hope you enjoyed reading this post on the Impact of Services and Facilities on Dubai Property Values. There are many other titles available in the construction dissertation collection that should be of interest to construction management students and building professionals. There are many dissertation titles that relate to other aspects of construction such as project management techniques, environmental management, building and construction methods to name a few. It took a lot of time to write this post and I would be grateful if you could share this post via Facebook and Twitter. Feel free to add your thoughts in the comments section. Thank you.

Health and Safety in Construction

Health and Safety in Construction

Title: Health Safety Construction – This report is as an advisory document to surveyors. It provides a critical appraisal of legal, economical and ethical issues relating to health and safety, considering the role of organisations and individual employees in complying with current legislation, and specifying limitations imposed on the conduct of the property professional.

Introduction

Health and safety is an area of concern which every surveyor and property professional must address. The costs of failing to do so may be felt by the professional in question, or may be borne by the property organisation or their clients. Understanding of health and safety issues necessitates knowledge related to three specific areas of concern – strict parameters regarding legislation, and economic concerns, and the more general but nonetheless important area of ethical conduct. Legal concerns comprise statutory regulations regarding site visitation, health and safety inspection, on site conduct, and provision of safe and reliable equipment. Economic issues are related to the necessity of budgeting for health and safety training, insurance against injury, and loss of revenue resulting from legal action in cases of health and safety breaches. Ethics relates to the individual nature and integrity of property professionals, and the establishment of specific codes of conduct within organisations.

Legal Constraints

When visiting premises or sites it is compulsory for a property professional to possess appropriate legal certification. To this end, certification via a valid CSCS (Construction Skills Certification Scheme) card is mandatory to gain access to all major UK construction sites (CITB, 2016). The purpose of schemes such as the CSCS is to ensure all construction professionals are competent and have the necessary training and qualifications for the work they will undertake (CITB, 2016). In addition, guidance issued by the Royal Institute of Chartered surveyors (RICS) states that, prior to any visit to a site or premises, a property professional should conduct a pre-assessment process to determine hazards that may be encountered on the visit (RICS,2011). To this end, it is important for the employer to have clearly understood procedures in place, and to provide suitable training and information for the employee (RICS,2011) This guidance should facilitate the organisation’s compliance with statutory regulations such as the Control of Substances Hazardous to Health 2002 (COSHH). Under COSHH legislation an employer must to decide how to prevent harm to health, for instance by appropriate risk assessment.

Consideration must be given to the risk associated in regards to work-related health and safety of an employee in the working environment. Under the Health and Safety at Work Act 1974 (HSWA) “employers must ensure, as far as is reasonably practicable, the health, safety and welfare of all employees” (HSE, 2016). Section 2 of the act specifies general responsibilities owed by an organization to its employees. For example, for the purposes of site visits, the employer is obligated to provide personal protective equipment (PPE), and the employer must ensure the PPE meets the minimum required standards and is fit for purpose. This stipulation is further supported by Personal Protective Equipment at Work Regulations 1992. In terms of this legislation, employers are also obliged to provide and maintain a safe working equipment (Rics, 2011). Compliance necessitates regular inspections to certify the fitness for purpose of PPE and all other on-site equipment. Failure to meet this requirement will result in a breach of section 2 of the HSWA, and may result in prosecution, as seen the case of HSE v Zurich Management Services Limited (Zurich) and Railcare Limited (Railcare).

health and safety in construction
health and safety in construction

Another key responsibility for employers is the provision of employee health and safety training. This should be facilitated by regular attendance on training courses covering current health and safety regulations. The employer must also provide employees with all relevant information regarding the company’s specific health and safety policies and procedures. It is important to note that the employer is not solely responsible for the health and safety of the organization. HSWA section 7 describes a statutory duty for the employee “to take reasonable care for the health and safety of himself and of other persons who may be affected by his acts of work” (Legislations.gov, 2016). Therefore, employees must follow procedures, training and policies given by their employers. If an employee is unclear on any policies, or feels they are not adequately trained to complete a task, they are obligated to communicate this to the employer. Breach of HSAW section 7, often results in litigation relating to professional negligence, as seen in the case of HSE v Barry.

Surveys and Reports

Lone working is common in the property industry. There is no legislation against this practice; however, in the absence of appropriate risk assessments provisions and procedures, lone working may be hazardous. For this reason, under the Management of HSAW Regulations 1999, assessment of risk pertaining to lone working must be conducted every day prior to work commencement. This is further enforced by the HSE regulations stipulating the responsibility of employers to ensure the safety of their works (HSE,2013); prior assessment should be supported by clearly established procedures for communicating with the lone worker, and scrupulous maintenance of records by employer and employee alike. If it is deemed overtly hazardous, lone working should not be considered, or an extensive rescue and recovery plan should be implemented to reduce risks.

Hazardous surveys must be conducted in accordance with current regulations. Rulings and standards to this effect may be obtained directly from the Health and Safety Executive (HSE). This means that professionals are bound by strict methodologies when conducting surveys and writing reports.

Contract Administration

When acting as Contract Administrator (CA) the property professional is obligated under the Constructions Design Management Regulations to manage health and safety risks throughout the construction process (HSE, 2015). The CA should prepare a written construction phase plan detailing the main dangers inherent in any given project, and suggesting appropriate control measures. For example, working at height necessitates a plan for the installation of gable ends, toe boards and guardrails. In general, the acting CA should have the relevant training, knowledge and experience necessary to carry out his duties safely. Again, this is supported by HSE regulations specifying the employer’s responsibility to ensure all employees are suitably trained to conduct specific tasks to which they are assigned.

Economic limitations

Legally all organisations must meet certain criteria in order to comply with current health and safety legislation. Under the Employers’ Liability (compulsory insurance) Act 1969 employees based in Great Britain are required to obtain Employers’ Liability insurance (HSE, 2012). The cost of the insurance premium is solely dependent on the nature of the business and risks associated. The nature of activities in construction-related professions means that higher insurance premiums are to be expected. Failure to meet this requirement may result in fines of up to £2500 (HSE,2012). Additionally, the HSAW act 1974 requires employers to finance the provision of information and training to ensure the health and safety at work of their employees. For instance, it is mandatory for a construction-related company to provide for employee attendance at courses covering the incidence of work with hazardous material. Further expenditure will be incurred in the provision of equipment necessary to complete work safely, such as PPE. However, the cost of meeting statutory requirements may be subsidised, on the basis that it facilitates improved standards of health and safety. According to HSE documentation, in the year 2014, 3% of workers in the construction industry sustained a work related injury (HSE,2015). This amounted to 65,000 separate incidents, resulting in 1.7 million working days lost. Increasing health and safety standards will help to minimise the potential for work related injuries, consequently, decreasing the chances of loss in working days and resultant economic burden to employers.

Breach of HSAW regulations may pose significant economic threat to an organisation, as it often results in a monetary sanction. The HSE can bring prosecutions before the magistrates’ court in which penalties of up to £20,000 per breach may be imposed (RICS, 2011). Furthermore, under HSAW (offences) Act 2008 imprisonment is also a possibility for almost any offence (RICS, 2011). In more extreme cases, persons may be prosecuted under the Corporate Manslaughter and Corporate Homicide Act 2007. The prosecution process whether it be for minor or substantial breaches, is bound to have a negative impact on the reputation of the organisation, resulting in a loss of clients and eventual a loss of earnings.

Ethics

There are grey areas which are not governed by legislation in this case the moral integrity of an organisation or professional is relied upon. Regardless of the type of task being carried building surveyors should recognise that they have a responsibility to the public and should at all times act in a manner which affirms this (2008,).

Conclusion and Recommendations

Interpreting legislation can be problematic; ambiguous terminology such as ‘reasonable and practicable’ is often cited to summarise the necessary level of compliance to legislation. Documents such as the Surveying Safely RICS guidance note 1st edition (Gn 74/2011) provide advice on how a property professional may meet current legislation. While these guidance notes are not enforced by law, in circumstances in which allegations of legislative breaches are made against a surveyor, a court or tribunal is likely to take account of the substance of RICS guidance. By conforming to such guidance notes, a surveyor should have at least partial defence against allegations of professional negligence. Hiring a health and safety office may also be advisable to ensure that an organisation is practising in such a way as to comply with current legislation. In relation to economic issues, good practice may minimise the incidence of expenses incurred in consequence of breaches of legislation. While ethical conduct is significantly related to personal and professional integrity, appropriate ethical conduct may be further encouraged by the establishment of codes of conduct within individual organisations. Such measures allow for in-house disciplinary proceedings, and bring the added advantage of improving the public image of the organisation in question.

References

CITB (2016) CSCS FAQs (Frequently asked questions)

Royal Institution of Chartered Surveyors (2011) Surveying safely 1st edition, guidance note. Coventry: Royal Institution of Chartered Surveyors. 1-13

Health and Safety Executive (2013) Working alone Health and safety guidance on the risks of lone working. London: Health and Safety Executive 1-5

Health and Safety Executive (2012) Health and safety training A brief guide. London: Health and Safety Executive 1-6

Health and Safety Executive (2016) Principal contractors: roles and responsibilities.

Health and Safety Executive (2012) Employers’ Liability (Compulsory Insurance) Act 1969 A brief guide for employers. London: Health and Safety Executive 1-6

Health and Safety Executive (2016) Construction industry

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