Nationwide UK Average House Prices Adjusted for Inflation - Essay Example

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This essay "Nationwide UK Average House Prices Adjusted for Inflation" discusses real house prices that have been increasing since 1975 and substantial rise has been seen for last 10 years, reflecting that overall UK accommodation cost has experienced a rise in demand in the recent years…

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Nationwide UK Average House Prices Adjusted for Inflation

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Subject: Macro & Microeconomics
Type: Essay
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 3
Author: breannamcglynn

Extract of sample "Nationwide UK Average House Prices Adjusted for Inflation"

In recent years particularly after 2013, housing and accommodation costs are again rising and this rise is causing problems for the UK government.

For substitute goods, if the price of one substitute is increasing; ultimate the demand for another alternative will also increase (Sloman et al., 2010). Within the UK, the cost of both furnished and unfurnished accommodation is increasing. Within this context, the UK government is going to introduce and implement a rent ceiling which will affect both landlords and tenants. For the landlords, the ceiling imposition will put a negative impact on their income as they will no more remain in a strong bargaining position. On the other hand, for tenants, the implementation of a rent ceiling will put a positive effect on their standard of living. For example, after the imposition of the rent ceiling, the tenants will be in a position to control their cost of accommodation and this will enable them to provide more money for their other expenditures.

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