An investigation into the effects rising property prices are having on first time buyers within the United Kingdom

Elvin, James (2016) An investigation into the effects rising property prices are having on first time buyers within the United Kingdom. BSc dissertation, University of Portsmouth.

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    Abstract

    The objective of this piece of research was to explore the multiple complex issues that have arisen through the continual rise in residential property prices in the United Kingdom, focussing specifically on first time buyers as a demographic.
    The current housing supply system is undeniably inadequate. With the United Kingdom’s population continuing to steadily grow and demand for property already far outweighing supply, it is evident that a drastic change in the provision of housing is needed. The consequences of the inability of those responsible for the provision of housing to match supply with demand and reach market equilibrium has been the continued rise in property prices, which in turn has resulted in many first time buyers finding themselves priced out of the United Kingdoms property market.
    The government have responded to the increasing difficulty faced by first time buyers when it comes to joining the property ladder with the creation of numerous schemes such as the Help to Buy. However with no measurements in place to increase supply at an equal rate to what help to buy has increased demand, it appears that they have done little more than to increase the demand for a supply that is already lagging behind, thus inflating house prices further and pricing out even more first time buyers.

    Item Type: Dissertation
    Departments/Research Groups: Faculty of Technology > School of Civil Engineering and Surveying
    Depositing User: Beth Atkins
    Date Deposited: 05 Sep 2016 09:23
    Last Modified: 05 Sep 2016 09:23
    URI: http://eprints.port.ac.uk/id/eprint/21704

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