Update from Justin Young, RICS CEO - November 2024

This month we’ve convened with members, government, press and financial institutions, showcasing the expertise of RICS members, and harnessing our collective knowledge to shape the future of the built and natural environment.

In Bilbao, more than 300 delegates and speakers from across Europe and beyond gathered for the RICS Built Environment European Summit.  The event saw RICS members join with elected officials and key industry figures to debate the issues impacting our industry, covering everything from retrofitting to AI.

Meanwhile, RICS President Tina Paillet met with some of our members across Singapore and Hong Kong, including the RICS Hong Kong advisory board.  She also discussed plans for the development of sustainable housing at a meeting with Ms Winnie Ho JP, Secretary for Housing of The Government of the Hong Kong Special Administrative Region. The RICS Hong Kong Awards provided an opportunity to celebrate the achievements of our members in the region, and the hard work, innovation, and dedication of individuals, teams, and organisations who shape our world for the better.

In the UK, we continue to progress our engagement programme to influence the legislative programme of the new Labour Government and this month focused on putting forward our response to the proposed changes to the National Planning Policy Framework, advising the New Towns Taskforce on delivering their mission, and working with members to shape policy on renters’ rights, healthy homes and leasehold reform. Last week’s UK Budget announced new investment in housing supply and infrastructure, alongside taxation changes and reforms to stamp duty which are summarised in our online analysis for members here.

While our insight into political developments will – we hope – prove useful as members consider any impact upon their businesses, we have found member insights invaluable over the last month in shaping RICS and our decision making. Last month, in line with our new subscriptions framework, our concessions were also reviewed to ensure they are fair and to streamline the structure down into a more manageable and applicable selection of categories. However, we received feedback that the Working Part Time concession was being used in ways that were not evident from the review process and gaps in provision were raised.  Since receiving this feedback we have undertaken a review, which included consultation with our Diversity, Equity & Inclusion (DEI) forum and network leaders, regional board leads, representatives from different aspects of our membership, RICS Board, Governing Council, the Presidential Team and views from over 700 members via an online survey. As a result, the Governing Council has agreed a concessions framework for 2025. An overview of this framework can be seen here. Thank you to those members who made time in their diaries at short notice to collaborate on this resolution.

As we continue our transformation journey, front of mind always is ensuring that members feel the value of their membership, and know that they have a home at RICS for the duration of their careers.