Reviews

Citation

French, N. (2014), "Reviews", Journal of Property Investment & Finance, Vol. 32 No. 2. https://doi.org/10.1108/JPIF-01-2014-0001

Reviews

Article Type: Reviews From: Journal of Property Investment & Finance, Volume 32, Issue 2

Planet Property
Peter Bill
1st ed.
2013
Matador
250 pp.
Hardback (£19.95), Softback (£14.99) or e-book (£7.95)
ISBN-10: 178306126X

Keywords: Property, Cycles

In the real estate world, every now and again, a book comes along that goes beyond the realms of academia and provides insights into the raw underbelly of the commercial property world. In the UK, this was done last in the late 1980s and early 1990s with books by Marriott (1989) and Ross Goobey (1992), respectively. So Peter Bill and his new book Planet Property is a welcome addition this pantheon.

In academia, it is very easy to get detached from the real world. There is an old adage that says:

“Those that can, do. Those that can’t, teach and those who can’t teach become University Lecturers”

This may be a little harsh on my profession but there is a definite disconnect between the world as described in the academic texts and the real workings of the market. Peter Bill’s book is a great bridge between these two worlds.

Planet Property discusses the drivers and influence on the commercial and residential real estate markets in the UK between 1997 and 2012. This includes the ten-year boom of the noughties, the 2008/2009 financial crash and Financial Economic Crisis that followed. Although, the book is not written as an economic text, the author clearly outlines the behavioural and economic reasons for the roller coaster experienced in that time frame. It talks about people and decisions and blind faith in a market that, at times, was beyond over-heated.

Most importantly, the author explains the roles and relationships between those who fund, develop, own, trade, broker, manage and provide professional and legal advice on property. In addition, he adds in the political overlay that led to the boom and the eventual collapse. The book is filled with insights and anecdotes and, as such, is a lively and entertaining read that fills a gap in the understanding of students who tend to think that property is all about formulae and graphs and fail to recognise the human element in the marketplace.

The author, Peter Bill, writes a weekly real estate column for the London Evening Standard and for the Estates Gazette, the UK commercial property weekly. He was also the editor of the Estates Gazette for 11 years until 2009. As such, he has an understanding of the markets and an elegance of writing that conveys the message about the ups and downs with eloquence and perceptiveness. This is a book that everyone involved in UK property should read.

Nick French
Department of Real Estate and Construction, Oxford Brookes University Oxford, UK

References

Marriott, O. (1989), The Property Boom, 2nd revised edition, Abingdon Publishing, London, 298 pp

Ross Goobey, A. (1992), Bricks and Mortals: Dream of the 80s and the Nightmare of the 90s – Inside Story of the Property World, Bricks and Mortals Random House Business Books, London, 218 pp