Main factors in determining the price of private rental housing in the UK

ASSIGNMENT INSTRUCTIONS

Assessment	Written report
Assessment code:
Academic Year:
Trimester:
Module Title:	Economics for Business
Module Code:
Level:	4
Module Leader:
Weighting:	50%
Word Limit:	2500 Don't use plagiarized sources. Get Your Custom Essay on Main factors in determining the price of private rental housing in the UK For $10/Page 0nly Order Essay This excludes bibliography and other items listed in rule 6.75 of the Academic Regulations: http://web.anglia.ac.uk/anet/academic/public/academic_regs.pdf
Assessed Learning Outcomes
Submission Deadline :

 

WRITING YOUR ASSIGNMENT:

• This assignment must be completed individually.
• You must use the Harvard referencing system.
• Your work must indicate the number of words you have used. Written assignments must not exceed the specified maximum number of words. When a written assignment is marked, the excessive use of words beyond the word limit is reflected in the academic judgement of the piece of work which results in a lower mark being awarded for the piece of work (regulation 6.74).
• Assignment submissions are to be made anonymously. Do not write your name anywhere on your work.
• Write your student ID number at the top of every page.
• Where the assignment comprises more than one task, all tasks must be submitted in a single document.
• You must number all pages.

 

 

ASSESSMENT QUESTION

 

Supply and demand analysis allows us to investigate and understand how the operation of markets, or sometimes the failure of markets.

Task 1

 

Using supply and demand analysis identify the main factors in determining the price of private rental housing in the UK.  Support your analysis with the use of supply and demand graphs.

(50marks)

Make sure this is RENTAL, not buying. Make sure this is UK, – £ NOT $.

 

Suggest an introduction to the rental housing market. The title says UK but students might find it easiest to consider London, with perhaps a comparison to a different UK region, or trend over time. 

Clearly explained classic supply and demand diagram, showing equilibrium and surplus/ shortages.

Four clear diagrams.

Demand right / left

Supply right/ left.

Use their own diagrams, or edit diagrams from vle(reference as “adapted from lecture “) .

Show clearly the effects of these shifts on price and quantity. (Students should not produce, for example, a demand curve in isolation, ie without a supply curve interacting to show equilibrium)

Clearly researched factors (3-4), effecting each shift. Marks awarded for supporting research and data on these factors. And for creative thinking around these factors. Brexit and population changes around the free flow of migrant labour, should be considered on the demand side.

 

Students should show diagrams and reasons for elasticity ofdemand and supply for rental housing

 

 

 

 

 

Task 2

 

Identify and explain the main governmental/economic policies that could be used to influence the demand for private rental housing in the UK.

On the demand side,

Affordable housing policies

Brexit,

Government policies to develop regions in the UK , after the election.

Policies to help key workers.

Transport policies.

Price caps/ subsidises/ intervention

Complementary – council tax

substitutes – opportunities to purchase.-supply factors for public / social housing

 

Students should analyse a minimum of five these policies . Drill down on to which one you consider to be the most important.

 

 

(40marks)

 

Note: 10 marks are available for referencing and effective communication

 

 

 

(Total marks available: 100)

NB.

Use ONLY the following sources of information.

Text Books from module reading list.

Economics on line- Pettinger.

AC/DC Economics- Mr Clifford

Investopedia

The Guardian newspaper.

FT newspaper.

ONS

Government statistics.

 

Any sources used outside of the above may be subject to investigation for plagiarism.

 

 

You must include a range of Supply and Demand diagrams as guided in class to show relevant shifts, equilibriums, and effects on price and quantity. Include elasticity diagrams.

You are strongly advised to edit diagrams from lectures on the vle. Reference these as “adapted from lecture”. Or to use Investopedia

 

 

 

Task one assessment criteria:

Knowledge and Understanding of the language of economics.

Knowledge and Understanding of the basic methodology and models used in this area and their application to real- world situations.

 

Points to consider:

A range of factors need to be clearly identified. These could include-

Regional / local demand factors

Population.

Interest rates

Taxation ,

House building,

The income effect,

Price caps/ subsidises/ intervention

Complementary / substitutes

This is not an exclusive list.

Diagrams must be included. Demand to right / left and the effect on private house prices. Supply to right / left and the effect on private house prices.

 

Task two assessment criteria: 

Knowledge and Understanding of the basic methodology and models used in this area and their application to real- world situations.

Intellectual, practical effective and transferable skills. Achieved through the ability to analyse hypothetical and/or real world situations that occur in economics.

 

Points to consider:

The main economic policies. These could include

Interest rates

Taxation ,

Tenants/ landlord rights

Government policy .

On the supply side- policies on public housing, landlords, social housing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Task one

Using supply and demand analysis identify the main factors in determining the price of private rental housing in the UK.  .  Support your analysis with the use of supply and demand graphs.

(50marks)

Diagrams must be included. Demand to right / left and the effect on private house prices. Supply to right / left and the effect on private house prices.

A range of factors need to be clearly identified. These could include-

Regional / local demand factors

Population.

Interest rates

Taxation ,

House building,

The income effect,

Price caps/ subsidises/ intervention

This is not an exclusive list.

Diagrams must be included. Demand to right / left and the effect on private house prices. Supply to right / left and the effect on private house prices.

 

 

Task two

Identify and explain the main governmental / economic policies that could be used to influence  the demand for private rental housing in the UK.

(40marks)

 

 

The main economic policies. These could include

Interest rates

Taxation ,

Tenants/ landlord rights

Government policy

 

 

MARKING CRITERIA

Task one

Using supply and demand analysis identify which you believe to be the main factors in determining the price of private housing in the UK.  .  Support your analysis with the use of supply and demand graphs.

(50marks)

 

 

A range of factors need to be clearly identified. These could include- Regional / local demand factors Population. Interest rates Taxation , House building, The income effect, Price caps/ subsidises/ intervention Complementary / substitutes	20 marks
Diagrams must be included. Demand to right / left and the effect on private house rental prices. Supply to right / left and the effect on private house prices. ( Demand right 5 Demand left 5 Supply  right 5 Supply  left 5 )	30 marks
. referencing and effective communication	5marks

 

 

Task two

 

Identify and explain the main economic policies that the government can use to stimulate the demand for private housing in the UK.

(40marks)

 

 

Interest rates Taxation , Tenants/ landlord rights Government policy	40
referencing and effective communication	5 marks