The Hendry Solution is a new open market technique, for equalising buy and sell prices within all markets.
It was originally conceived to correct the unaffordable anomalies plaguing the UK housing marketplace. This method of resolving the housing crisis does still remain to be put to the test but the author recommends that it should now be thoroughly tested and evaluated. Having retired I now wish to give something of significant value back to the property industry and to the service in which I have spent my whole career.
I qualified as a General Practice Surveyor (RICS) in 1974 (in valuation) and have gained wide-ranging experience since that time, particularly in issues surrounding residential property valuation and house marketing.
Having ceased practicing as a Chartered Surveyor some while ago, I am no longer a member of the RICS and am therefore in a better position to give independent advice concerning how to improve the workings of the individual housing markets across Britain.
The internet has turned out to be a good place to publish information about this because it is a national and world-wide platform allowing everyone interested to see details of the changes and improvements which I am advocating ought to take place.
I have researched how to make improvements to the operation of all local housing markets across England and Wales after observing the house-price stagnation of 1969, the hyper-inflation that followed in 1972 and the successive but cyclical house-price booms following that; leading to the prolonged house-price growth then sudden stagnation after the 2008 global financial crisis.
This resulted in a severe reduction in sales volumes for a significant number of years thereafter and it still affects most local housing markets to this day. I have been in direct communication with the RICS, the NAEA, The Law Society and my local MP about my research, explaining the need for estate agents to change the way they have historically marketed houses, in order to resolve the problem of the lack of affordability.
I argue that the continuing stagnation in market activity, coupled with the general lack of affordability following the financial crash, could still be substantially ameliorated if my proposals were to be fully debated and the resulting conclusions which those discussions arrived at were to be implemented.
The effect of not doing anything of significance to improve the buying and selling processes across all UK housing markets continues to have a de-stabilising effect on the whole of the nation’s economy by causing a stagnation in house sales completions. This is, of course, a very important and substantial part of our economy and therefore warrants complete and careful consideration.
The time to take corrective action is right now, although such action is already well overdue. I would welcome sharing your thoughts on aspects of these new proposals through the comments section of this blog site.