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Impact of Personal Finance on UK Housing Market - Essay Example
Author : miracle61
Finance & Accounting
Pages 8 (2008 words)
The study will highlight the different facets of the UK housing market and the effects of the economic slowdown on the subcategories like residential, housing complex and other rental property. The fragmented housing market will provide opportunities to investors forheavy investment in the market…
This report stresses that in UK, the procurement of the housing facility is largely facilitated by the financial risk and the structural pattern of the housing market. Apart from the traditional banks, UK housing market is financed largely by the large amount of investors from other countries. The requirements for the strong growth in the UK housing market were largely dependent on the pricing of the residential and non-residential property. The UK housing market then consisted of submarkets and the quantitative analysis was the most common method to determine the market issues and segmentation. The UK housing market consists of owner, rental and industrial owners and the affordability concept is measured through econometric concept.
This essay makes a conclusion that the housing scheme not only helped in decreasing the housing prices but also increased the repossession in the rental property land. The decrease was also due to the fact that the lenders were asked to pay only the capital sum at the end of the repayment term and tenure. The government has also increased the process of facilitation of the housing loans which have increased and doubled up to 15 percent in the last tenure. It is also observed form the graph that the government’s mortgage guarantee scheme of £12 billion helped in stoking the bubble to a large extent. With the emergence of the Household Guarantee scheme proposed by the UK government, an increase in the supply of the individual and rental property was witnessed in the following areas. ...
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