The U.K. Housing Market

Paper Summary:

The paper aims to identify the relationship between changes in interest rates and their impact on the UK housing market. The paper presents the hypothesis that the lower the prevailing interest rate, the more non-homeowners will seek out mortgages for their own homes, but that there would be other mitigating factors involved as well. The paper provides a summary of the findings in the concluding chapter, together with limitations of the research encountered and a discussion of the hypothesis confirmation based on previous research.

Outline:
Abstract
Chapter 1: Introduction
Chapter 2: Review of Related Literature
Chapter 3: Interests Rates and the UK Housing Market
Chapter 4: Methodology
Chapter 5: Data Analysis, Tests and Results
Chapter 6: Discussion and Evaluation
Chapter 7: Conclusions, Limitations of Research, Hypothesis and Previous Research

From the Paper:

"During the past two decades, the United Kingdom has been transformed from a nation of renters and leasers into a nation of home-owners. While the analysts differ on the opinions concerning the precise reasons for this transformation, the fact remains there was a significant increase in home ownership experienced during the period between the early 1980s and the late 1990s. During this same period, interest rates have varied sharply, but their precise impact on the UK housing market remains understudied and nebulous."

Sample of Sources Used:

• Allmendinger, Philip and Huw Thomas. 1998. Urban Planning and the British New Right. London: Routledge.
• Andrew, Mark and Geoffrey Mean. 2003. House Price Appreciation, Transactions and Structural Change in the British Housing Market: A Macroeconomic Perspective. Real Estate Economics 31(1), 99.
• Angel, Shlomo. 2000. Housing Policy Matters: A Global Analysis. New York: Oxford University Press.
• Bank of England Reduces Bank Rate by 0.25 Per centage Points to 5.0per cent. (2008). The Bank of England. [Online]. Available: http://www.bankofengland.co.uk/publications/news/ 2008/026.htm.
• Barrell, Ray. 2002. The UK and EMU: Choosing the Regime. National Institute Economic Review, 54.

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