Factors Affecting UK Housing Market
SCHOOL OF BUSINESS AND LAW LONDON
Factors Affecting UK Housing Market
Intake August, 2012
Written by: Milad Pir Mohammad
October 2012
Table of Contents
Titles Page
Executive Summary
Introduction 3
Factors affecting Demand of a House in the Market 4
1.1 Price of the House 4
1.2 Rent of House 5
1.3 Population 6
1.4 Household Income 8
1.5 Future Price Expectation 8
2.0 Supply of House in the UK and London 10 2.1 Price of the House 10 2.1 Availability and Price of land 11 2.1 Future Price Expectation 12 3.0 Government Policies affecting Housing Market 14 3.1 Availability of Mortgages 14 3.2 Interest Rate 15 3.3 Government Legislation and Stump Duty 16 Conclusion 17 References 18
Executive Summary
This report economically analyze housing market in UK since 2006. The main purpose of this report is to find out key factors affecting house demand and supply during the period. diagram and graphs are presented along with related data judgment to support the main purpose. The graphs are mostly presented for London and Northern Ireland and UK as a whole. The Main target area of this report is London which has been compared with Northern Ireland and UK as a whole.
Various relevant factors of House Market determinants have been focused and presented with relevant graphs to support the concept. London has experienced a big difference in almost all the things as compared with other parts of UK. High population density, foreigner interest, higher average income, and higher rent price were the major factors differentiating it from other parts.
Introduction:
Demand and supply is possibly one of the most basic concepts of economics and it is the pillar of a market economy. Demand means how much (quantity) of a product or service is
Factors Affecting UK Housing Market
Intake August, 2012
Written by: Milad Pir Mohammad
October 2012
Table of Contents
Titles Page
Executive Summary
Introduction 3
Factors affecting Demand of a House in the Market 4
1.1 Price of the House 4
1.2 Rent of House 5
1.3 Population 6
1.4 Household Income 8
1.5 Future Price Expectation 8
2.0 Supply of House in the UK and London 10 2.1 Price of the House 10 2.1 Availability and Price of land 11 2.1 Future Price Expectation 12 3.0 Government Policies affecting Housing Market 14 3.1 Availability of Mortgages 14 3.2 Interest Rate 15 3.3 Government Legislation and Stump Duty 16 Conclusion 17 References 18
Executive Summary
This report economically analyze housing market in UK since 2006. The main purpose of this report is to find out key factors affecting house demand and supply during the period. diagram and graphs are presented along with related data judgment to support the main purpose. The graphs are mostly presented for London and Northern Ireland and UK as a whole. The Main target area of this report is London which has been compared with Northern Ireland and UK as a whole.
Various relevant factors of House Market determinants have been focused and presented with relevant graphs to support the concept. London has experienced a big difference in almost all the things as compared with other parts of UK. High population density, foreigner interest, higher average income, and higher rent price were the major factors differentiating it from other parts.
Introduction:
Demand and supply is possibly one of the most basic concepts of economics and it is the pillar of a market economy. Demand means how much (quantity) of a product or service is
References: 5. Greater London Authority. (2009) The London Strategic Housing Land Availability Assessment and Housing Capacity Study