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Sunday 14 April 2013

Supply and Demand in UK Housing Market

IntroductionHousing is of great importance to the economic development and the social eudaemonia of a region because it produces a type of goods that besides being considered an asset, are indispensable in satisfying a primary necessity within individuals.

For this reason the living accommodations analysis is extremely important from the point of view of the economic and social policy, because it is non only part of the wealth of the families but also of a country itself. This work go away analyse the different factors that put on beg and supply when buying a house in London.

The diverse population of London leads to a wide turn tail of types of trapping being available: houses, flats, bungalows, maisonettes among some others, having the majority of its living accommodations market as a second hand one.

This reports will make a detail analysis of the London lodgement market, focusing on the main factors that affect the supply and demand during the process of buying a house and finding where the guiltless market fails and therefore the government as to intervene.

1.Demand of Housing:For all housing transaction there is a seller and a purchaser. The seller will decided the price that they are spontaneous to accept for the property and that they think the property can achieve. The buyer will decide what they are willing to pay for a property. However there are factors that will heavily solve the demand and supply of houses.

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These factors are:DemographicIncomePrice of HousingInterest RateCost and Availability of credit /MortgageConsumer preferencesPrice of substitutesPrice of compliments2.Supply of housing: In nightclub to produce a new housing supply the following factors are required:LandLabourOther Inputs (Electricity, Building Materials )The cadence of housing produced for sales is determined in relation to the salute of the factors mentioned above. Second hand housing supply is determined by the number of...

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