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European commercial property market in good health as coworking phenomenon takes hold

European commercial property market in good health as coworking phenomenon takes hold

by • Coworking, News, Property

European commercial property markets have started 2018 in a positive way, with provisional data for 2017 from Knight Frank suggesting that investment volumes were higher than in 2016. If 2017 beats 2016’s total of €216 billion it will still remain well below the market peak of 2015 when over €250 billion was invested, according to the latest commercial property outlook report from Knight Frank. The real estate firm expects 2018 transaction volumes to be similar to those of 2017 and the report says that significant amounts of capital continue will be allocated to real estate.  The report also highlights how flexible workspace and coworking is now a Europe-wide phenomenon, with London, Berlin and Paris witnessing the strongest growth. The sector will continue to expand, as new styles of workspace are developed to service a growing variety of occupier needs, says the report. Last year Baptiste Broughton reported for us on the state of the coworking market in France.

Culture shift needed to drive a better gender balance in property and construction

Culture shift needed to drive a better gender balance in property and construction

by • Comment, Property

Despite compelling evidence of the bottom line benefits of gender diversity, too many sectors remain stubbornly male dominated. This is certainly the case with the property and construction industry where women still represent only 15 percent of the workforce. The growth of prop-tech, entrepreneurialism amongst women and a growing emphasis on service, demonstrated by the growth of the flexible office and serviced apartment sectors, which tend to have more balanced gender ratios, is helping to address this balance. However, many women in the industry still do not occupy managerial roles, and so the gender pay gap stubbornly remains. For these imbalances to be addressed a cross-industry, cultural shift needs to occur, and individual companies must work to drive change from the top down.

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SMEs employers’ recruitment strategies have altered as a result of Brexit

SMEs employers’ recruitment strategies have altered as a result of Brexit

by • News, Workplace

Half of SMEs (50 percent) questioned in a new survey have changed the way that they recruit their staff as a result of Brexit. The Albion Growth Report 2017 of more than 1,000 SMEs suggests that for businesses which have changed their strategy as a result of Brexit, 15 percent have decreased recruitment resources, 10 percent have begun recruiting in different ways and 9 percent have made redundancies. A difficulty in finding skilled staff is one of the biggest barriers to growth, behind broader political uncertainty and cash flow, which the research claims could lead to a potential war for talent which is likely to become more intense in the post-Brexit environment. By contrast, SMEs view difficulty in finding unskilled staff as the least significant barrier to growth. The report finds that nearly two thirds (65 percent) of SMEs believe their business lacks expertise. More than a quarter (26 percent) of businesses lack marketing talent, followed by business planning (19 percent), IT (17 percent), and software developers and technology specialists (17 percent).  Despite critical skills deficits, only a third of SMEs (33 percent) are currently hiring new employees.

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Automation will impact low paid jobs first because of the living wage, report claims

Automation will impact low paid jobs first because of the living wage, report claims

by • AI, News, Technology

The development of the living wage coupled with the growing automation of tasks could create a perfect storm that prices a growing number of people out of the jobs markets, a report from the Institute of Fiscal Studies claims. The authors suggest that one of the unintended consequences of the increase of the rate to £8.50 by 2020 could be that people in low paid work could find themselves in competition for jobs with robots and artificial intelligence. The report concludes that there will be a tipping point at which human labour becomes economically unviable, although it does not predict when that will occur.

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Younger workers helping to drive a more positive perception of UK business

Younger workers helping to drive a more positive perception of UK business

by • News, Workplace

Younger workers helping to drive a more positive perception of UK businessThere has been a rise in the number of people who believe businesses in the UK have a good reputation, with a significant number of younger people helping to create this positive picture. The research, comparing perceptions of businesses between May and November 2017, reveals 2 in 3 people think UK businesses have a good reputation, up 7 percent in 6 months. The tracker, conducted by the CBI in partnership with global PR agency, Porter Novelli, and research company, Opinium, revealed that the public are more aware of the value business provides in local communities with an increasingly vocal business community emerging in recent months. Importantly, the improvement in business reputation has largely been driven by young people and those in work, with a significant 15 percent rise in positive views among 18-34 year olds. This reinforces the view that younger people are more engaged in the debate about the UK’s future, with the Brexit negotiations and a sharper political debate intensifying the focus on jobs and the economy.

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UK commercial property volumes to exceed £50 billion for sixth consecutive year

UK commercial property volumes to exceed £50 billion for sixth consecutive year

by • News, Property

Despite 2017 being a year of political surprises and, seemingly, never ending Brexit negotiations, both the UK economy and commercial property market have shown demonstrable resilience with transaction volumes reaching £55 billion. With recent announcements suggesting more certainty about the post Brexit relationship between the UK and the EU, renewed business confidence will increase demand for quality commercial real estate. Global real estate advisor, Colliers International, predicts that 2018 volumes will exceed £50 billion for the sixth consecutive year.

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UK commuters spend five times more on rail fares than European counterparts

UK commuters spend five times more on rail fares than European counterparts

by • News

British commuters face fresh rail fare increases as they return to work today (Tuesday), now spending up to 5 times as much of their salary on season tickets as passengers on the continent, according to new TUC research. Someone on an average salary travelling from Chelmsford to London will have to fork out 13 percent of their pay for season tickets (£381 a month). By contrast, comparable commutes would cost a mere 2 percent of the average salary in France, 3 percent in Italy, 4 percent in Germany, and 5 percent in Spain and Belgium. Meanwhile, the TUC claims that wages are set to grow by only 2.6 percent in 2018, while season tickets will go up by 3.6 percent – over a third faster than wages.

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Automation will benefit the economy but many people could lose out

by • AI, News, Technology

Around a third of all jobs in the UK are vulnerable to the introduction of robots, automation and artificial intelligence and the government must intervene to manage the transition and stop new technology driving up wage inequality, a report from the Institute for Public Policy Research (IPPR) claims. Although the report suggests that the tech will have a generally beneficial impact on the economy, it warns that lower-skilled jobs are far more likely to be phased out over the coming decades, and only higher-skilled workers would generally be able to command higher wages.

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The power of cities continues to shift east as Asia set to outstrip Europe and North America by 2035

by • Cities, News

A new report from Oxford Economics suggests although New York, Tokyo, London and LA will stay as the world’s major urban superpowers in the near future, China’s cities’ GDP will double in the coming two decades while Shanghai (pictured) and Beijing have already outstripped Paris in terms of economic activity. The 780 global urban centres covered in the report account for well over half of all worldwide economic activity, are home to a third of the world’s population and will be home to an extra 500 million people by 2035. In just over a decade the combined economic activity of Asian cities will exceed those in Europe and North America. Some smaller European cities will fall out of the top 100 cities worldwide, including several capitals. These are Amsterdam, Brussels, Copenhagen and Vienna as well as Barcelona, Frankfurt and Hamburg.

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Shifts in occupier behaviour and attitudes to real estate pave the way for a workplace revolution

by • News, Property, Technology

The rise of the flexible office is the result of dramatic changes in the way corporate occupiers approach their real estate decisions, and will open up opportunities for landlords able to adapt and respond to these shifts. These are some of the claims from The Flexible Revolution (registration required), a pan-European report from CBRE exploring the flexible office market. Over the past decade the global flexible office market has been growing at an average of 13 percent per annum. Growth rates in EMEA (excluding UK) and APAC have averaged around 20 percent per annum, while the more mature and larger markets of the UK and the USA have seen average growth of 10 percent per annum over the same period. Key European cities like Berlin, Paris and London have all seen strong year-on-year growth of 12 – 21 percent between 2016 and 2017, which is comparable with markets like New York and San Francisco, where the flexible office concept has existed for longer.

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Gig economy workers should not be criticised for defending their rights

by • Comment, Flexible working

The gig economy and workers’ rights are among the most prominent themes of our age. In the future of employment – in particular, what it means to be employed or self-employed – they are critical. Catapulted to the heart of this debate is Uber, which has deployed its ride-hailing platform app in nearly 500 cities around the world since its San Francisco launch seven years ago. But in the UK and elsewhere, it has run into myriad legal problems. Most recent among them, Uber lost a hearing at an Employment Appeals Tribunal (EAT) in London in a case brought by co-claimants, James Farrar and Yaseen Aslam. The verdict in favour of the two Uber drivers poses a threat to the fundamental premise that has fuelled the meteoric rise of the gig economy: that workers work for themselves and not for the apps which rely on them.

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New intellectual property protection initiative launched for workplace and interior design

by • Furniture, Legal news, News, Workplace design

The Society of British and International Design (SBID) has launched the SBID Intellectual Property (IPP) initiative to mark the new campaign to prevent IP theft in the interior design industry. Developed in association with TM – Eye, with the aim of assisting the industry to obtain objective evidence of design ownership, the venture updates the archaic discourse on intellectual property in design and will raise awareness of what designers need to do to properly protect their work. The issue is one of stolen ideas after a commercial presentation, without consent or a fee, a problem that has plagued the interior design industry and left owners/creators feeling like they had no legal support to refer to. This could typically be the theft of ideas created in an interior designed space or product. This has not only been an ongoing problem for business investors in all creative sectors of design and manufacture, but also a problem for consumers who are put at risk, completely unaware when they purchase a look-alike product, to find a poorly manufactured copy without tested safety marques that could cause untold damage to property.

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