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United Kingdom is one of the biggest economies in the world. So mortgage house and buy
house in the u.k is more typically to afford rather than another region. As per last two years
housing market up and down because of economic growth upward and downturn. Also
interest rate high applied by bank of England. House of price in the UK now day by day goes
up. For the reason being in 1990 housing price very low. And fact house price nearly to
afford to people. Over past left these situation but now very difficulties to get on the property
as a homeowner and property ladder have been left with s seemingly impossible task.
FACTORS AFFECTING ON HOUSING MARKET:-
1.DEMAND AND SUPPLY: house price is most important factors for a house buyers to
make purchase lower price will be purchased and higher price demanded will be less in sense
that fundamental factors to rising house price. When housing price fall so automatically
demand all adversely
2.INTEREST RATE: interest rate base on the bank of England. If interest rate rise in the
market than mortgage. Lenders will increase the cost of mortgage payment. High interest rate
to falling to mortgage lenders to buy a house. Interest rate very important in U.K because
variable mortgage lenders a payment is decided on the Basis of income .a little change in
interest make big impact on cost of mortgage.
According to market oracle researches says majority of the people believed that
rate has been decreased since commencement of the running financial crisis. According to
market oracle researches majority of the people believed that interest rate has been decreased
since beginning of the current financial crisis.