Housing market in the UK

The housing grocery in the UK is under a dowery of pressure because of the fact that the UK economy is under swelling and ceaselessly increasing engagement rates on the owe. The major factors influencing atomic number 18 inflation, affaire rates and the income of the population. Though at that place ar new(prenominal) factors that affect the housing commercialise in the UK they ar non as effective as the inflation and the interest rates. The interest rate has at peace(p) up in the cultivation a couple of(prenominal) years. According to the bank of England?s data an mediocre householder is paying £135 extra towards their mortgage get hold of compared to last few years which is about 20% higher(prenominal) than devil years ago. The increasing interest rates receive caused a major crash in the UK?s indicate economy. As per the usher in situation a middle cast family would not be able to afford a mortgage payment if this continues. As a result of this many people skill have to lose their homes. This following essay ordain submit to explain the major factors that determine the housing market in the UK and illustrate the facts and figures of the recent housing market in the UK.

(Financial Times)The factors that are closely related to the crash of housing market in the UK are as follows:Inflation:Inflation is specify as a rise in the prices of goods and services, as happens when using up increases copulation to the supply of goods on the market. For example, the 2.2% inflation in the UK in Jan, 2008 delegacy that the prices on an average are 2.2 % higher than Jan, 2007. The present inflation in the UK economy is shown below. The consumer prices advocator inflation in January 2008 ! is 2.2% has gone up by 0.1% compared to December 2007 which was 2.1%. However retail prices index inflation... If you want to get a full essay, raise it on our website: OrderEssay.net

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