Impact of COVID 19 on UK Housing Market

UK HOUSING SALES
Contents
1

Contents...........................................................................................................................................2
INRTODUCTION...........................................................................................................................3
QUESTION 1..................................................................................................................................3
How have the average house prices in UK changes over the period from 2009 to 2019?..........3
QUESTION 2..................................................................................................................................3
What are the economic determine of the changes.......................................................................3
QUESTION 3..................................................................................................................................3
How the government action affect UK housing market in 2009 to 2019....................................3
QUESTION 4..................................................................................................................................3
Impact of COVID 19 on UK housing market..............................................................................3
CONCLUSION................................................................................................................................3
REFRENCES...................................................................................................................................3
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INRTODUCTION
United Kingdom is the one of the developed counter and major part of world economy. This
is famous for their economic policy. The housing market play major part of the UK economy the
country earn venue from this market in national and international term. The report has been made
for defining the impact on government policy an heir deciding on the average price rate of the
UK. This report also includes the change in the past 11 years in the prices of UK house. In
consider the effect of COVID 19 pandemic on the housing market to negative and positive effect
and time require overcoming all the effect in space of manner.
QUESTION 1
How have the average house prices in UK changes over the period from 2009 to 2019?
Housing market: It defines as a market where the supply and demand of houses has been decided
and trade within specific country. Housing market is affect from many sectors and average house
price and trends in prices of houses are the main factors of this market. In the past 10 years
change there would be so many changes aeries within the market economy of UK, thus the
average price of hoses affected and change over the time period. (Cuéllar-Franca and Azapagic,
2014). In 2008 the UK housing average proc rate was 250000 £ before the recession but in 2008
due the changes in economic scale the price rate decrease it fall 19.6 %in 2009 the house prices
is 147746 UK dollar which is the lowest cost and in this period selling house and trade in the
market only gerante loss from the rate of houses. At the end of 200 9 the housing rate increase
and the value of hoses was 220000 $.In 2010 the government introduce new rule in the market
and it affect the market rate of houses from 1.3 %, at the time in 2100 the housing rate value
increase in the London at 25 % of average prices.. The price rate has been rise in 2011 from 0.9
% and at the end of 2011 the value of house was increase and annual growth rate also increase
1.5 %.In 2012 When London organizing Olympic games it directly affect the economy and their
GDP rate has been increase which affect the market price of house and average house prices
increase 1.4 5In 2013 the scene from trading in-house market has been developed by George
Osborn according to the scheme, the government provide offers related to mortgage interest they
give 5 % interns buying home (Clapham and et.al .2014). It increases the average value of the
houses. In 2014 with the changes of scheme dnlaunging new policies that value of average house
price was increase till 25 %.In 2015 with the changing in government, and scenario of economy
the average price of house rate decrees 3.2 %..The growth rate in the house price has been seen
3