Identify the principal drivers of house prices and housing construction in regional market and relate these to short and long-term demand for housing and housing affordability.

Strong house price appreciation over a significant number of years is one of the reasons for the government’s commitment to improving housing affordability. The Council of Mortgage Lenders (CML) is concerned with the future of the owner-occupied housing market in Britain.

Your firm of property consultants have been commissioned by the CML to provide a report to establish whether recent trends in the housing market imply that concerns with affordability are valid. Your client has requested a report of your findings in January 2021.

In the report you are required to:

1. Provide an overview of the economic outlook for Britain with an emphasis on inter linkages between housing and the economy.

2. Provide an overview of recent trends in the British regional housing market. (i.e. house prices, housing construction, transactions, affordability, gearing levels, housing tenure).

3. Identify the principal drivers of house prices and housing construction in regional market and relate these to short and long-term demand for housing and housing affordability.

4. Based on this analysis and any other relevant information such as policy developments, make an analytic assessment of the extent to which affordability concerns will continue to persist in the future and potential policy implications.

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