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Your assignment is to prepare and submit a paper on property cycles: the uk experience.
Your assignment is to prepare and submit a paper on property cycles: the uk experience. Generally, it could be stated that the property market is characterized by continuous and radical changes. The specific issue has been examined by Pain et al. (1994, 53) who noticed that ‘the behavior of the personal sector has changed markedly over the past 15 years, coinciding with a period in which overall consumers expenditure proved extremely difficult to forecast with any degree of accuracy’. Because of the above phenomenon, the national economy – which is closely related with the property market - faces severe turbulences by achieving a significant level of growth when the prices of houses are increased and having severe losses in periods that the prices of houses are decreased because of the lack of monetary resources available that they could help the enhancement of the property market. In relevant research published by National Statistics Online (2007), it was revealed that ‘a feature of homeownership in the United Kingdom is the relatively large number of homes purchased with a mortgage. approximately three-quarters of house purchases are financed with a mortgage loan facility’. This means that consumers in Britain cannot afford the purchase of a new house and for this reason, they seek the support of the financial institutions. However, if taking into account the fact that borrowing cannot be increased on a continuous basis (such a fact could lead the national economy to severe damages) it is clear that the real potentials for growth are not many for the UK property market.
On the other hand, the property is often chosen by investors globally as a profitable solution, especially for a long term investment. In this case, the funds gathered could be used in order to stabilize the economy. However, not all properties are offered for such a pay-back unless perhaps those that are cited in certain (usually too expensive, in terms of the price of the house/ building) areas. .  . .
