The housing market in the UK is considered to be one of the main and one of the most important markets. Buying a house for a majority of people is one of the biggest purchases ever made. Let alone it being the biggest it is also one of the most crucial as it can be where they will now spend the rest of their life. Never the less the housing market is seen as a great form of investment for some. This being because house prices have been on the rise since over 30 years ago. Furthermore od •Buy to Sell
•Buy to rent
•Buy to invest
What factors influence demand for housing?
Demand is the want or desire to own a good or service of some sort. Many factors can influence demand for housing especially for those whom are considering moving to a permanent location. As a result such a huge step would mean that there are many aspects to take into consideration.
There are many sub headings that can come under location such as; are there schools in the area? Shops locally? Easy access to London transport? Hospital near by? Such factors all influence the demand for housing. For example if there isn’t any schools near by and some one with children is viewing the property this would not intrigue the buyer, as it would not be as efficient if there were schools in the area, perhaps at a walking distance. -Income
Financing a house involves a long term commitment between a buyer and a mortgage lender As a result this plays a huge role in demand for housing.. -Consumer Confidence
Consumer confidence is a major role in the housing sector. If there is potential that the economy is doing well and house prices are steadily increasing, (economic growth) buyers would want to rush into the market. Increasing demand.
What factors influence supply of housing?
Supply of something is a quantity of a good or service given at a particular price at any given time. Supply of housing is limited in the UK. On of the key...