Property Companies and the Construction Industry in Britain

Abstract

This book presents the first substantial account of the property and construction sectors of the British economy. The author maintains that, contrary to received wisdom, the construction sector is far from 'backward', and that its characteristically divergent behaviour is the result of wider economic crises. Similar periods of crisis have shaped the property sector which, dependent upon the relationship between ground rent, the value of the building and building rent, cannot be understood in terms of 'urban rent'. Dr Smyth's analysis challenges both radical and traditional theory, and his historical account of the property and construction sectors in the period since 1939 provides an illuminating survey of the development, management and production of the built environment.