The reason for the rise in UK house prices

下面为大家整理一篇优秀的assignment代写范文- The reason for the rise in UK house prices，供大家参考学习，这篇论文讨论了英国房价上涨的原因。从1997年开始，英国的房价就开始剧烈上涨，同时期内其余的发达国家也无法与之比肩。其中主要的原因是英国人口增长较快，所以对房子的需求比较大。另外，英国的保障性住房建设滞后和住房市场中个人投资行为增多也是房价上涨的原因。

In recent years, China's housing market has developed rapidly, with the housing price rising all the way and reaching new highs repeatedly, which is far away from the actual affordability of the public and makes the daily life of the general public suffer greatly. During the same period, the UK also experienced the abnormal rise of housing price similar to that of China, and its rising trend was in the leading position among developed countries in Europe and America. The investigation and analysis of this changing trend in the UK will be helpful for us to deal with and regulate the housing market problems in China.

Since 1997, the British housing market has entered the development era known as the "golden decade" by ordinary British people. During this period, the sharp rise in housing prices is not only unique in the history of Britain, but also unmatched in other developed countries. In October 2006, Britain's biggest mortgage lender, hbos report says Britain's average house prices have been nearly three times in a decade ago, from 62000 pounds to 179000 pounds, increased by 187% since February 1996, the London area is increased by 240% over the same period in the British public average wages increased by only 54%. In April 2007, the national bureau of statistics released a statistical report: from 1991 to 2005, the average house price in the UK increased by 204%, more than twice the growth rate, while the per capita income only increased by 92% in the same period. The average housing expenditure of first-time buyers was 47,000 pounds in 1991 and 142,000 pounds in 2005. In July 2007, the financial times published a survey report: British house prices have increased by 676% since 1980, and have tripled since 1997. Currently, the national average house price to income ratio is about 6 to 1, London area is 9 to 1, and some other institutions or associations have higher statistics.

Britain's fertility rate has been high in recent years despite its small size compared with other western European countries such as Germany, France and Spain. A July 2007 report by demographers at the university of London raised serious concerns about the environmental pressures on Britain's population. Almost 670,000 babies were born in Britain in 2006, according to the report. In England and wales, there were 1.87 children per woman of child-bearing age, a rate not seen in more than two decades. This, of course, is only a factor in the expectation of rising house prices. More importantly, in recent years, a large number of immigrants have poured into Britain, which, while promoting economic development, has inevitably caused great realistic pressure on British public services and housing market. The office for national statistics of 1997 the Labour party came to power after a major change in the UK population flow were investigated, in 20 years, 1997 years ago, the average annual net immigration of only 50000 people, in the 1990 s of the population average annual growth rate is 0.3%, and in 2004 the British absorbed as many as 223000 immigrants, and attracting immigrants in 2005, 235000 people, accounted for two-thirds of the population was 37.5 k, population growth rate reached 0.6%, this is since 1962, the annual population growth is one of the largest, also is the largest annual increase since 1965, From 1950 to 2005, the population of the UK increased by 20%, and the permanent population of the UK has reached 60.2 million. Coupled with the current urbanization level of over 90%, the UK has become one of the countries with the largest population density in the world. A large number of immigrants have brought a variety of influences on the British society. In the housing market, the increasing demand for housing generated by such people has caused increasing pressure on the housing supply. The imbalance between supply and demand has become more and more serious, which directly leads to the rise of real estate price.

Britain is the world's first country to implement government intervention in the housing market. As early as 1890, there were formal laws requiring local governments to build affordable housing for the working class. In 1896, the first affordable housing residential area was built. After the World War II, Britain gradually formed a housing security system with "affordable housing" as the main content, including low-rent housing, affordable housing and low-priced commercial housing. These government subsidized housing are for those middle - and low-income residents who need housing but cannot afford to buy or rent commercial housing in the market. By 1979, such housing accounted for one-third of the country's housing stock, and government spending on construction amounted to 8% of total government spending. But with the increase of thatcher housing welfare reform, privatization of public housing, at the same time fully to reduce this kind of affordable housing construction costs, the development of "affordable housing" almost in a state of stagnation, from 100000 units annually in the 1970 s to the mid - 80 - less than 30000 units, by the mid - 90 - s almost zero. The ons says there has been almost no construction of "affordable housing" in the past 20 years, with demand far outstripping supply. According to the agency's research, only 3.1 such "affordable homes" are available on the supply side each year relative to the demand per 1,000 people, leaving a huge gap. Mr. ORR, the President of the national housing federation, said the pace of building at least 70,000 affordable homes a year was appropriate because the current shortage of affordable housing for the nation's 1.6 million families in need of affordable housing was' desperate. '

In nearly a decade, the rapid development of individual investment behavior in the UK housing market, in June 2007, the university of Aberdeen and loughborough university joint survey suggested that if the government doesn't contain more and more "that buy a house to rent", British society will be like in the 19th century, the gap between rich and poor is becoming more and more serious, a few people through to exploit the Labour of others results at large, most of the other people can only live on the edge of the poverty line. Buy-to-let has become almost a new industry in Britain over the past decade. By mid-2006 the buy-to-let industry had a net property worth of more than 120 billion, generating 30 billion a year for the economy, four times the contribution of the car industry. More than one million households across the country live in these commercial rental properties, which are expensive to rent. The buy-to-let sector returned an average of 11.18 per cent a year, according to the national association of rental agents, while some portfolio investors returned 21.68 per cent. The expectation of high rate of return stimulates more and more British people with certain strength to devote themselves to this industry. However, the current mortgage application conditions in the UK are relatively loose, and the loan amount that the public can apply for is up to 95% of the housing price, which facilitates the consumption of investment housing. According to the housing rental agents federation statistics, "buy-to-let" about 73 percent of the average purchase cost is resolved through borrowing, only about 1/8 of the investment buyers borrow less than 50 percent of the total purchase cost. In 2003, the loan amount of such "buy-to-let" loans nationwide was 50 billion pounds, which reached 84 billion pounds in the middle of 2006. This shows that the investment and consumption of non-owner-occupied houses in Britain have been booming in the past three years, which undoubtedly contributes greatly to the continuous rise of house prices.

There are other factors contributing to the rise in UK house prices, such as rising awareness of property rights and increased home ownership. Over the years, the ownership rate of housing property rights in the UK is not high, basically maintaining between 50% and 60%. In the past decade, this proportion has increased rapidly. By July 2007, the ownership rate of housing property rights in the UK reached 71%, exceeding the proportion of 68% in the United States and becoming the country with the highest rate of ownership of housing property rights among western developed countries. This process directly promoted the rapid prosperity of the housing market, and housing transaction prices rose naturally. Changes in the marital status of britons also played a role in the rise in house prices. According to the national bureau of statistics, the number of divorce cases reached more than 166,000 in 2003, the highest since 1996, and increased to more than 167,000 in 2004. Men and women aged between 25 and 29 maintain the highest divorce rate. These divorcee basic all have need to buy or lease houses to live again, and the proportion of divorced women in career women account for about 29% higher than full-time housewife, their independent personality and strong economic strength to make it tend to buy their own property for living or investment, is also for the future of marriage again do their reserves. Such a situation naturally puts more pressure on housing demand than stable traditional family life, thus driving up housing prices.

Through the above investigation of the British housing market, we can see that similar problems exist in China to varying degrees. Is in rapid development stage of urbanization in China, every year there are a large number of population to cities gathered themselves together, and by 2010 every year from 10 million to 13 million agricultural population transferring to towns, coupled with the natural growth of urban population, China's urbanization level will reach 47% by 2010, the urban population will reach 640 million, than a net increase of 190 million people, now would be a huge demand for housing. In a long period of time in the future, this situation will not change too much. People's demand for house purchase will be a great pressure that will exist for a long time, and the supply-demand relationship will be in an unbalanced state for a long time, which will be a long-term trend of China's housing market. Only by recognizing this basic point, can we keep a relatively clear mind on the basic trend of China's housing market and understand the significance of making efforts to regulate and control the real estate market.

In China, affordable housing, low-rent housing and other affordable housing construction is also facing a serious shortage. The supply of "two houses" in various places is seriously insufficient. Studies have pointed out that at present, nearly 94% of housing development in China is commercial housing, only 6% of affordable housing and less than 1% of low-rent housing. In Beijing, for example, released in September 2006, the Beijing housing construction plan is put forward, during the period of "11th five-year plan" Beijing will be the new housing construction area of 123 million square meters, the construction of low-rent housing is only 47 to 60 square meters, about 10000 sets, the construction scale of affordable housing is about 1500 square meters, about 210000 sets, new commercial housing construction scale is 9250 square meters, 900000 sets, the structure of natural far cannot satisfy the needs of low-income people in, forcing them to wonder at room or into the commercial housing market becomes unbearable mortgage burden "mortgage slave", expanded the demand for commercial housing, Cause the continuous rise in housing prices. Therefore, it is necessary to vigorously accelerate the construction and improvement of the housing security system with affordable housing, low-rent housing and price-limited housing as the basic contents, which is not only an important measure to control the excessive rise of housing price, but also an important aspect to solve the problem of people's safety and career and promote social harmony.

The increase of individual investment speculation in the housing market is also a relatively prominent problem in China's real estate development in recent years. Various crack appear frequently, especially in the economic developed areas around a group of professional flipper, they use bank loans to purchase homes, and then sold at a higher price or rental, earn price difference, to purchase homes and sell more of this kind of behavior with commercial housing price higher, from the ordinary people really need housing live living space, become a big driver of house prices artificially high. Therefore, it is necessary to restrict and regulate the investment speculation in the housing market to prevent the bubble trend of the housing price and make it return rationally. This is why we are implementing the policy of increasing the proportion of down payment of the second home mortgage and the interest rate of mortgage repayment. Such policies need not only to be implemented, but also to be revised and improved in the future as circumstances change. Compared with the 71% proportion in the UK, the housing ownership rate of urban residents in China is as high as 82%, ranking the first in the world. Many people blindly stare at the purchase of commercial housing regardless of their actual ability, which causes the increase in the demand for commercial housing and the rise in price, but at the same time makes themselves carry a heavy burden and pay a great price. To improve living conditions for granted, but how to improve is our strengths, a rational and mature should be a low-rent housing consumption system, rent and purchase housing, the purchase of commercial housing form of coexistence of multiple levels of government and society should strengthen the policy and public opinion guidance, to guide the rational consumption of the real estate market, make the residents to form diversified housing arrangement in consumption idea, based on their actual income level and consumption ability to choose buy or rent, eliminate blind peer, get rid of the erroneous zone of housing consumption, make rational system of housing consumption regression.

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