Higham, A and Fortune, C J (2012) Investment appraisal tools and sustainability evaluation in social housing. In: Smith, S D (ed.) Proceedings of 28th Annual ARCOM Conference, 3-5 September 2012, Edinburgh, UK.
Abstract
Conventional decision making in all aspects of the asset management sector has largely been based around the key concepts of risk reduction and maximization of returns. Yet the RICS (2009) has called for surveying professionals to significantly modify their current practice to ensure it aligns with the government policy which has sought to encourage sustainable development through sustainable construction and property management. For organizations operating in the social housing sector this has meant reinvesting, through regeneration and improvement programmes in their existing socially excluded neighbourhoods in order to deliver 'sustainable communities.' The work reported in this paper focuses on a quantitative study executed to assess the extent to which current practice in the social housing sector has been modified to consider sustainable aspects of property investment, and specifically to identify the tools and techniques used. Using a questionnaire survey data was gathered from 250 social housing providers in the United Kingdom achieving a response rate of 15%. The interim findings suggest while social housing property directors understand the importance of considering sustainability they have not yet achieved the paradigm shift in terms of its implementation called for in the literature.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | asset management; investment appraisal; social housing sustainability |
| Index terms: | paradigm, decision-making, government policy, investment appraisal, questionnaire, property investment, implementation, social housing, property management, sustainable construction, surveying, risk reduction, asset management, United Kingdom, sustainable development, maximization, survey, programme, sustainable community |
| Subjects: | data collection methods, real estate economics, public policy, contractual arrangements, economic analysis, health monitoring assessment and metrics, education and knowledge transfer, algorithms, health safety and environment, Geography, financial risk, sustainable construction, project controls, housing and residential development, decision analysis, asset management, communities and social development |
| Topics: | Research Practice, Geographical Context, Cost Management, Business Strategy, Health and Safety, Procurement, Sustainability, Governance, Risk Management, Stakeholder Management, Digital Applications, Urban Studies, Time Control |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here