Graham Norwood, with whom I co-wrote the book “Media relations in property” (EG Books) a couple of years ago has just had his latest book published.
In the book, he sets out the signals that were appearing from 2005 and asks questions about why so few people spoke out as the foundations of the industry began to crack.
Senior figures from all elements of the residential industry – developers, agents, analysts, lenders, planners and pundits – comment on what they believe led to the downturn. The book then sets out what the industry may learn from the experience. It compares those developers and estate agents that down-sized or collapsed altogether with those that survived and, in some cases, even prospered in the downturn.
It identifies common indicators amongst those that remained strong through a 50% collapse in sales and a 25%-plus collapse in prices, and offers insights into how policies of diversification and modernisation helped many companies survive. It also looks to the future and presents a sobering vision, created by scores of experts interviewed during the downturn, of what the market may be like when volumes, prices and spirits move upwards once again.
I am impressed (if not a little envious) that he got his latest book out two months before mine…