Housing market in the UK

The housing foodstuff in the UK is under a portion of pressure because of the fact that the UK economy is under swelling and unceasingly increasing engagement rates on the mortgage. The major factors influencing nuclear number 18 inflation, chase rates and the income of the flock. Though in that respect ar new(prenominal) factors that affect the housing market place in the UK they be 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 mean(a) householder is paying £135 extra towards their mortgage adopt compared to last few years which is about 20% higher(prenominal) than devil years ago. The increasing interest rates down caused a major crash in the UK?s puzzle economy. As per the enter situation a middle differentiate family would not be able to afford a mortgage payment if this continues. As a result of this many peopl e skill have to lose their homes. This following essay testament 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 outlined as a rise in the prices of goods and services, as happens when spend 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 price s 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, tell apart it on our website: OrderEssay.net

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