The Housing Market

... Economics Assignment The Housing Market By: Selina Pang Tutor: Mr Wells The Housing Market The housing market is possibly one of the most important markets in which we as everyday consumers take part in, simply because housing is a necessity and also probably the largest consumption good that is purchased. The majority of the average person's income would probably go towards either rent or a mortgage. This is true also in terms of business expenses. It has been argued that decent housing has external knock on effects on society in that those provided with a better living environment are more productive, healthier and better educated individuals, and this in turn leads to increased economic growth. The Principal Housing Markets The housing market can be broken down into three interconnected markets: * Owner Occupation * Social Housing * Private Renting Owner Occupation This is the most common form of housing in the UK. As mentioned previously, house buying is for the majority of

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