A Report On London Renting Market

This report aims to examine and show how economic factors and housing policy have affected provision of affordable housing in Dundee from mid 1900’s to present day. It will show evolution of

Furthermore, lack of affordable housing has become an issue for additional reasons. 50,000 new homes were built since 1981 but only 8000 were local authority housing, and only 2000 were low income houses. This was worsened by the implementation of the ‘right to buy’ scheme, creating a surge in house prices (a 1 bedroom apartment now costs around £500,000). It could be suggested that this issue counteracts successes of the scheme, as issues still exist including 3500 homeless people in the area and the housing prices are significantly above the UK average, so they have not achieved their aim to ‘make housing affordable to all.’ However, I believe that the Docklands has been a successful example of regeneration as it is now such a significant part of the capital, with it being London’s finance capital providing not only important economic contributions, but also employment to many people in the skilled sector.

Housing affordability is the relationship between household income and burden of housing costs and is an issue when it prevents population groups from accessing appropriate or secure housing. (3, 4) Australia has seen a severe escalation in rent and house prices that have not been matched by growth of household income. This decline in housing affordability is a result of economic growth, tax incentives for owners and investors, more accessible finance and population growths, which consequently result in an increased demand for housing. (3, 5) Moreover, this is further compounded by land and development limitations that restrict increases in housing

Some prefer renting to buying because they believe that the renting might seem to cost less than buying a house. The tenants can possess a stable shelter without a high-cost per month, which provide the benefit to the renters within 10 years (Andriotis, 2014, p.4). Renting a

The purpose of this literature review is to explore the issues associated with the private rented sector (PRS), because as noted earlier, this is now becoming a very important tenure in the overall UK housing market. Approximately, 4.9 million households in the UK are in the PRS, which has more than doubled since 2001 (Paragon 2015).

In the UK just now, there is an exceptional lack of affordable housing which has resulted in a housing crisis, meaning more and more people are finding themselves unable to find anywhere to live. For many people the possibility of owning their own home is way out of there reach. On average house prices are seven times people's incomes. It makes no difference how hard someone works the fact is that more and more people are simply unable to own a house. This has caused many people to be forced to rent from private landlords, this can often be unstable and with eviction being a constant risk it puts people under lots of pressure. Failure to build affordable housing has resulted in an increase in the level of homelessness as it has become so difficult for people to afford to pay for somewhere to live. In London the average price for a home in 2015 was £472,000 which is thirteen times Londoners average wage. The streets of London are an area where there are scandalous levels of rough sleeping. 8,00 people each year. In one area of London Newham one in every 25 people are

In this chapter Roy tells the other about owning and renting a house and disproves the theory that renting is throwing away your money. The chapter starts off with the barber shop group congratulating Dave for winning the golf game against Tom, afterwards Dave reveal that his wife due soon and they will be buying a house soon he then confesses that he is afraid of buying a house, but he sure he never want to rent which his sister agrees with saying that renting is just throwing away your money, which starts off the lesson. There are three main reason why renting is not a waste of money like the three think, the first reason is that renting is can be a smarter choice then buying. Second reason is that buying house can cost more money than renting.

In this essay we will be discussing the social, political and economic changes that have increased housing debt within the UK in the last 30 years and recent years, to what extent has the debt difficulty caused to some families.

The recent policy regarding the Right to Buy propose to increase the discount under the Right to Buy scheme. This allows social tenants purchase their home at discounts of up to 50% of the value of their home, making home ownership more accessible (Brill, 2012). In addition, the Right to Buy sales make a major contribution to increase home ownership. There is an increase in the list number of people wanting accommodation. Therefore, it is worth to consider whether this has been one of the key drivers in recent changes in the UK housing system. The aim is making the housing system more affordable, for people on low income to be able to afford to buy their social housing and become home owners (Pattison, 2010). The increase demand of council housing of people with low income has brought about the recent changes in policy. It will also be the key driver of policy change in the

It’s difficult to cross your fingers with rubber gloves on, nevertheless I’ve found a way because that’s how much I’m begging for mass rental renovation in Dundee. With house prices steadily on the uprise, I think a little bit of healthy competition is what this city’s landlords need.

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As any good realtor will say, there are three main important factors to remember when buying or renting a piece of property: “location, location, location”. Oftentimes, the location of ones home will have some of the biggest impacts on their lives. Since we live in a capitalist society where work is key to survival, location has a major affect on work. The importance of location can become a problem when work and the rest of one’s life become separate. Before the industrial revolution, work and the house were intertwined with both activities taking place in the same location. However, after the industrial revolution, work was moved outside the home and into the factory. Though our current society is not structured around factories, the physical location of the workplace remains separated from the home. This can lead to conflicts between where someone lives, sometimes without much of a choice, and the work available. The crux of this is the Spatial Mismatch theory which is the idea that the economic restructuring that has taken place in the past decades has lead to the loss of work opportunities for low-income and minority workers due to work being moved away from where they live. Economic restructuring such as deindustrialization has moved many jobs away from the city and urban setting and into the suburbs where low-income and minority workers may not have an opportunity to live. In addition to the movement of jobs, the importance of transportation, both private and public,

Multiple reasons exist for the the lack of affordable housing. On the demand side these include population growth and increased migration to urban areas, easily accessible housing finance, tax incentives and a “strong cultural preference for owner-occupied detached houses”. On the supply side, affordability problems are exacerbated by inflexible and slow responses to the need for new housing stock, lack of infrastructure and generally inefficient planning processes and development assessment by local governments.

During the current economic recession, home prices have dropped considerably in the Atlanta area. Many believe that the market has bottomed out, making this the optimal time to purchase a home for prospective homeowners. However, the risk of a further market decline has made some consider renting as an alternative to buying for the time being.

Those who rent from private landlords do not only tend to, on average, pay almost double the rent of a person living within social housing but also are twice as likely to live in a residence the Government would class as a “non-decent home”, a residence in disrepair and one that does not meet health and safety standards (Jonathan Owen, 2014). The undisputable growth of private renting sector is not limited to England but is also noticeable in Wales, Scotland and Northern Ireland. In wales the private rental sector represents 14% of total housing, the private rental sector in Scotland has doubled over the last ten years as more than three hundred thousand properties have been sold and in Northern Ireland private landlords own more properties than councils and housing associations combined according to national figures provided in 214 (Jonathan Owen, 2014).