Impact of Real Estate Trends on the Economy: Barking and Dagenham

This research proposal investigates the real estate trends in Barking and Dagenham and their impact on the economic growth of the United Kingdom. The introduction highlights the significance of the real estate industry and its contribution to the UK's economy, emphasizing the need to analyze trends for policy implementation and economic understanding. The rationale focuses on personal and professional development, aiming to enhance analytical and communication skills while gaining practical knowledge of the real estate industry in Barking and Dagenham. The research objectives are to identify the state of the real estate market, investigate trends, and analyze their impact on the UK's economic growth. The methodology includes a positivism philosophy, deductive approach, survey strategy, and both primary and secondary data collection methods. The study will utilize random sampling with 30 respondents and a cross-sectional time horizon. Ethical considerations such as informed consent, confidentiality, and anonymity will be observed. The proposal also includes a Gantt chart outlining the project timeline. The conclusion highlights the crucial role of the real estate market in Barking and Dagenham and its impact on the local and national economy.

Research Proposal
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Table of Contents
Introduction......................................................................................................................................3
Rationale of research........................................................................................................................3
Significance of the research.............................................................................................................4
Research Aim:..................................................................................................................................5
Research Objectives:........................................................................................................................5
Research Questions..........................................................................................................................5
Literature review..............................................................................................................................5
Real estate industry of Barking and Dagenham.....................................................................5
Real estate trends of Barking and Dagenham.........................................................................5
Real estate and economy in Barking and Dagenham.............................................................6
Research Methodology....................................................................................................................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
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Introduction
The real estate industry is defined as the sector which deals in the area of real property that
consists of land and improvements which include big links fixtures Road structures and utility.
The real estate industry is a highly competitive industry which is affected by different external as
well as internal environment factors (Trevillion and et. al., 2020). This investigation focuses on
the real estate industry of barking and Dagenham. The real estate industry significantly
contributes towards the economic growth and wellbeing of United Kingdom. This increases the
importance of researching the trends and changes in the real estate sector so that policies can be
implemented to support growth of economy with the help of support provided to the real estate
sector. In addition to this looking at the changes and trends in the real estate industry can also
provide information about changes in overall economy of a country such as the United Kingdom
so that steps can be taken if economic downfall or sudden economic changes which are harmful
for the country are identified. This research focuses on investigating that real estate trends of
barking and Dagenham. In case of the United Kingdom the real estate industry of the country
plays an important role in growth of the region because it deals with the essential service related
to housing.
Rationale of research
The main rationale behind performing the present research is to identify the trends of real
estate market in Barking and Dagenham and its impact on economic growth of the United
Kingdom. Whereas on other side, the particular study is relate with dual perspectives that are
professional and personal. For this investigation, in context of personal perspective, the research
might enhanced several skills while performing the research like analytical and communication
skills. In professional context, the recent investigation researcher would formed understandings
about managing future study in effectual and efficient way.
Another reason for selecting the topic of real estate is the personal interest in this industry
specifically in the region of barking and biscuit. The knowledge about critical role of real estate
sector in the economy of the country initiated personal interest in this field and completing
research in the area will improve practical knowledge about the real estate industry of the region
of barking and biscuit. In addition to this conducting research in the area of real estate and
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investigating trends used in the real estate industry within the barking and biscuit region will
highlight the current changes real estate industry is facing because of external factors so that its
relation with the economy and economic growth of United Kingdom can be determined. This
will not only improve personal knowledge about the real estate industry but will also help
understand The United Kingdom economy which is useful for personal and professional
development as the economy of the country affects professional area and personal area equally,
Apart from this another reason behind conducting investigation on the topic of real estate
which revolves around an analysis of the impact of real estate trends within the barking and
biscuit region on the economy of the United Kingdom is that Real estate sector not only supports
economic growth but also promotes social growth of a country. Therefore conducting research
on the impact of real estate trends on the overall UK economy will also highlight the fact in the
ways in which these trends are shaping social infrastructure of barking and biscuit region.
Significance of the research
Conducting research on the area of real estate in barking and biscuit region is important because
it will help understand the ways in which real estate industry nonmetropolitan areas in United
Kingdom is functioning and changing. The barking and biscuit region in United Kingdom is the
third most deprived borough in London and 12th most deprived out of all 326 local authorities in
England. Developing an understanding of the real estate industry of barking and biscuit will
provide information about the ways in which rural backward and deprived areas of United
Kingdom are being affected by external environment factors so that the economic condition of
non urban areas of United Kingdom can be determined. This is an important research which will
highlight the economic environment of ruler areas in United Kingdom by evaluating the real
estate sector of barking and biscuit. Even though United Kingdom is considered a developed
country by most standards there are certain deprived areas in the nation which do not have the
high level of quality infrastructure compared to other developed nations in European Union such
as Scandinavia and Nordic countries. Conducting research on deprived and economically weaker
areas of United Kingdom is important because it provides information about the actual health of
the country besides it’s urban and metropolitan areas such as London so that the overall impact
of changing trends on real estate industry of United Kingdom and economic of United Kingdom
can be understood in a proper manner.
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Research Aim:
To identify the trends of real estate market in Barking and Dagenham and its impact on
economic growth of the United Kingdom.
Research Objectives:
 To identify the state of real estate market existed within Barking and Dagenham
 To investigate the trends used in real estate industry existed within Barking and Dagenham
 To analyse the impact of real estate trends within Barking and Dagenham in economic
growth of UK
Research Questions
 What is the state of real estate market existed within Barking and Dagenham?
 What are the trends used in real estate industry existed within Barking and Dagenham?
 What is the impact of real estate trends within Barking and Dagenham in economic growth
of UK?
Literature review
Real estate industry of Barking and Dagenham
According to the views of Brookes (2022), upney Lane Beccles Drive and Stratton Drive
are the highest valued streets in the real estate market of barking and biscuit while the cheapest
streets available in the real estate market of barking and biscuit are Chadwell health and maybe
Rd in barking and Portland close in the region. In recent years properties in the Stratfield gardens
area of Back in region have been sold for the value of 9,025,000 pound and on the other end of
the market there have been real estate properties which have sold for one 1,022,000 pounds near
the Wheelers cross region in barking and maxi Rd in biscuit (Revealed: 'Most expensive streets'
in Barking and Dagenham since 2016, 2022). This showcases the contrasting elements of the real
estate market which exists within the backing and biscuit region.
Real estate trends of Barking and Dagenham
According to the views of Kollewe (2022), The UK property market has been seeing
continuous changes as prices reached 5% high this year which showcases an evolving trend in
the UK property market with uncertainty about the wider economic environment of the country
with complexities in data mining the annual house price forecast of the nation (Covid couldn’t
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cool house prices, but the economic chill might, 2022). This can be attributed partly to the lack
of available properties in different regions of the country as newly listed homes get Burgess
quickly and reduction in mortgage rates along with fluctuations in the job market with
unemployment rate reaching 3.8% have also affected the prices in real estate industry of United
Kingdom. In case of barking and biscuit the nationwide trends also affected the region as real
estate prices are increasing throughout the country.
Real estate and economy in Barking and Dagenham
According to the views of Pettinger (2021), There is a relation between housing market
or real estate industry and the economy as increases in the house prices encourage consumers to
spend mode which leads to economic growth and create wealth for the country. On the other
hand rising house prices also result in redistribution of wealth within an economy and increase
the wealth of homeowners (How the housing market affects the economy, 2021).
Research Methodology
Research methodology is stated as the process which is adapted through researcher for
gathering as well as evaluating the information related to particular research topic (Hamnett and
Reades, 2019). Additionally, this part states the methods which are utilised for conducting the
investigation with their justification. The method applied into respective research is described
below:
Research philosophy: This is stated as the procedures which would be used to accumulate
information related to the chosen research topic through philosophies that are positivism and
interpretivism. Within particular study positivism philosophy is chosen. The key reason to opt
this philosophy is that this depend upon subjective approaches as well as also aids investigator to
undertake much effective and efficient decisions.
Research Approach: There are mainly two approaches such as deductive and inductive. In
respect of this study, deductive approach is selected as this depends up to the facts as well as also
helps in generalising the research findings into much appropriate and efficient way (Nayak and
Singh, 2021).
Research strategies: The key strategies which are helpful in performing the research are survey,
case study, action experiments, and many others kinds of method. Additionally, the investigator
adopted survey methods to accomplish the current research as well as develop helpful
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approaches for the growth also. In addition to this, it would be useful in obtaining various
methods as well as accumulate much relevant and valid information to perform the study in
effectual manner.
Data collection: This is undertaken as the procedures adapted through investigator for
accumulating primary and secondary data by relevant and effectual sources. With regards to
current investigation, both methods of data collections are utilised. Questionnaire is formed
through investigator to accumulate the primary information as this aids in obtaining the deep
understandings related to the topic. While one other hand, secondary information would be
accumulated from books, articles, journals and others. It aids investigator to acknowledge the
view point of various authors upon specific topic that in future drives towards accomplishment of
relevant and valid outcomes.
Sampling: The procedures to choose the sample from two methods which are probability as well
as non-probability methods which is called the sampling (Pandey and Pandey, 2021). In respect
of respective investigation, random sampling that is the portion of probability sampling is
adopted as this aids to select huge sample size into lesser time duration. For this, 30 respondents
are chosen who work in real state sector as they have the knowledge about it efficiently.
Time horizon
This is considered as one of the crucial sources of investigator as without this the project might
not be accomplished based upon the specified timeline. Additionally, there are mainly two
approaches such as cross sectional and longitudinal. For this study, cross sectional approach is
effective as this aids in accomplishment of task into delegated time and resources without any
difficulties.
Ethical issues: This is vital for investigator to follow whole ethics related with research so that it
may be accomplished without any problems and difficulties. Additionally, the three key ethical
principles are informed consent, confidentiality and anonymity. Moreover, this is crucial for
investigator to facilitate the effective information regarding the research objectives to
respondents as it would assists in implementing the activities of study appropriately.
Cost and Access: This is crucial for researcher to form budget prior to the implementation of
investigation as this aids in executing activities without any issues. Additionally, whole
information that is gathered for investigation is consider from relevant as well as authentic
sources that in future aids researcher to draw valid and efficient conclusions (Rinjit, 2020).
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Gantt Chart
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CONCLUSION
As per the above report, it has been concluded that real state market plays crucial role within
Barking and Dagenham. Moreover, this having both positive and negative impacts upon the
economy growth of United Kingdom. Additionally, literature review is performed to understand
the research gaps by accumulating the knowledge of trends used in real estate industry, the
impact of real estate trends and many others. In addition to this, research methodology is
performed to know about the chosen method. And also it is as the process which is adapted
through researcher for gathering as well as evaluating the information related to particular
research topic.
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REFERENCES
Books and Journal
Hamnett, C. and Reades, J., 2019. Mind the gap: Implications of overseas investment for
regional house price divergence in Britain. Housing Studies, 34(3), pp.388-406.
Nayak, J.K. and Singh, P., 2021. Fundamentals of research methodology problems and
prospects. SSDN Publishers & Distributors.
Pandey, P. and Pandey, M.M., 2021. Research methodology tools and techniques. Bridge Center.
Rinjit, K., 2020. Research methodology.
Trevillion and et. al., 2020. The Use of Benchmarks for Real Estate Portfolio Performance by
UK Financial Institutions. Journal of Real Estate Portfolio Management, 26(2), pp.118-
131.
Online
How the housing market affects the economy, 2021. [Online] Available through
<https://www.economicshelp.org/blog/21636/housing/how-the-housing-market-affects-
the-economy/>
Covid couldn’t cool house prices, but the economic chill might, 2022. [Online] Available
through <https://www.theguardian.com/business/2022/jun/26/covid-couldnt-cool-house-
prices-but-the-economic-chill-might>
Revealed: 'Most expensive streets' in Barking and Dagenham since 2016, 2022. [Online]
Available through <https://www.barkinganddagenhampost.co.uk/lifestyle/property/most-
expensive-streets-in-barking-and-dagenham-claim-8693456>
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