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Economic Theory Driving the Current House Price Fluctuations in Hull
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Economic Theory Driving the Current House Price Fluctuations in Hull By N.Whiteley The author conducted an investigation on the fluctuating house prices of Hull from the period 2000 - 03. Summary The report highlights why house prices in Hull have fluctuated during this period, the principal areas being economic business cycles, microeconomics, inelasticity of the housing market, mortgage and interest rates, inflation and the 'buy-to-let' phenomenon. Introduction It was identified that demand for housing is affected by economics, aspirations, and demographic changes in addition, consumer choices, such as cost, location, proximity to local amenities, employment, schools, size and type. The economy tends to move in a series of ups and downs, these vicissitudes are known as business cycles. Of course, markets are complex things and the housing market is one of the most complex. One major inelasticity is that individual people do not simply want a home somewhere in England; they want one at...
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