Economic Report on Housing Sector in Scotland Essay

Economic Report on Housing Sector in Scotland - Essay ExampleThis paper is divided into three parts. digress A forget present an analysis of the Scottish housing market for the first decade of the new millennium (2000-2010). It will look at the major factors affecting demand, supply, and footing of housing units. In the process of analysis, it will also seek to determine whether the housing sector in Scotland is volatile or not and what are the reasons for this. Part B will go on to review specifics regarding the reasons for the ups and downs in the housing sector. Part C will differentiate between factors that are indigenous to Scotland and factors that whitethorn affect the whole of the UK housing sector. It will then end with recommendations to be implemented that when done, will hopefully reduce the volatility of the housing market in the UK in general and in Scotland in particular.Available data shows that the amount number of new housing units established per year in Scotla nd since the 1980s was 20,000 units these wear however peaked at 25,000 in 2007 and there has been a decline since then to around just 17,000 units in 2010. This decline was seen in the years 2009 and 2010. The average UK house price was 163,244 at the end of 2010, with London being the most expensive region in the UK overall, and Edinburgh leading the price rise in Scotland.Aberdeen urban center and Aberdeenshire were areas that had recorded a housing demand growth of 4 percent over the year ending December 2010. These areas have benefitted from strong and stable economical opportunities.