Introduction:

Housing system refers to the process of interactions between the actors and institutions in differential time and space. Society is being processed widely with these concepts, and due to this, a lot of external factors tend to impact this system, which involves economic, social, cultural, and demographic values. Housing system has three components in it, which are demand actors, supply actors as well as the institutions.

Housing system in the U.K.: 

It includes different factors that shape the housing system. The housing system in the U.K. has various shape factors like demand, supply and institutions, meeting the housing market, and generation of the specified outcomes. Every place has its housing policies, so is the case with the U.K. Political objectives are more likely to achieve in the U.K.’s housing system. About 20% is of the private rent, 17% is of the social rent, and 28% is of the mortgage (BBC UK, 2018). It is the tenure of the housing system in the U.K., and it is considered to be relatively stable in terms of legal rights and responsibilities. However, the U.K. has also a macro context of The Housing System, which is inequality and tax revenues.

 Accessing Housing:

Ways in which people access the home in different tenures:

Housing tenures are defined as the legal rights that one has to accommodate a specific housing system to a property. Different tenures are present in the housing system, and the common ones are home ownership and renting.  (Hodkinson & Robbins, 2012

 Owner occupied:

Owner occupied housing system is being accessed by those who want to buy a private place on their own. People can access these house by getting agreed with the repayment schedule and by contacting the housing and development programs in the U.K. which is a mortgage. The people must access finance for owner occupiers in this case. Mortgage availability and choice are also the accessing factors. (Stewart, 2005).

Accessing Housing

ii) Private rented:

It is the system of buying the house on private means, and different U.K. institutional system makes the people access quickly to enhance the private residency housing system. Another way of accessing the tenure is contacting the landlords or the property owners directly.

iii)        Social rent:

Social rent is another tenure which can be accessed easily by the social council houses of the social housing systems. Determining the need of home and relative finance discussion will make the people access it.

In all these tenures people must be fulfilling the legal status to access tenures of the housing system.

Opportunities and barriers to access different tenures:

Different opportunities and barriers come in the way of accessing different tenures. The main options are building the firms and the involvement of the demand factors. The legal support by the government policy and the enhanced financial mortgage promotes people to access different tenures.

The barriers that come across in the way of accessing different tenures are production, choice, and affordability. All these barriers tend to create an inclusive housing system causing people to approach the terms in a problematic way.

  1. b) The leading providers of Housing:
  2. i) Identify the range of housing providers

Housing providers range from private registered authorities to the local authorities. They are the PRP providers and have housing associations, for profit providers and the charities. Homes and Communities Agency functions to register and regulate the housing providers.

Developers end to have an extensive housing system to benefit those who are seeking for the personal property. They work by regulating the economic and the legal policies. While on the other hand, public housing providers operate to benefit the society, and they do have access to the local market directly. They classify all the finances, and expenditures to represent their housing system who are seeking.  

Using examples from your own area describe the role played by each type of provider terms of the contribution they make to Housing local people

In the U.K., both the housing providers have a different set of rules and regulations, and they contribute differently to the Housing Society.

Local authorities:

In the case of local authority providers, about 196 registered private providers are present at U.K. They contribute in the housing system by managing the housing society on there without any external pressure. One of their main objective is to regulate the economy of the country. They contain all the stock and prices in a balanced and maintained way.

Private registered providers:

Private registered providers are further broken down into three categories. These categories include charities, non profit non charitable companies, and the profit organisations. They are more prominent in the society and present 95% of the housing society system. According to the Housing and Generation Act 2008, they play the principal role in managing the legal and the financial mortgage of the housing system. PRPs has a list of functions that they tend to perform, which includes the authority to enforced notice, penalty, compensation, management, statutory inquiry, restrictions as well as the suspensions and appointment of officers.  All these functions are concerning HCA’s practices.

c)The housing market

Describe how the housing supply and demand affect each other

Both the housing supply and demand have an inverse relationship with each other. Increase in one leads to a decrease in others. This rise and fall in between the two factors continue to occur unless an equilibrium point is reached. The relationship can be apparent by the fact that when the demand increase and the supply is at equilibrium, then, in this case, the demand tends to be even higher to achieve the higher equilibrium level and vice versa.Identify the factors which influence the supply of and demand for Housing at a national level.

The factors at the national level in the U.K. impacting the demand and supply are as follows:

Price fluctuations

Income and credit

Availability of the competitors present in the market

Change in trends

Commercial advertising

Seasons

Preferences and affordability

Investment and tax

Local houses in the U.K. have a low range of affordability due to the lack in the production of new homes into the system. The reason for this is that there the places are of the time of 1980s and are of great worth. Also, no new homes are being built in the U.K. As per the policies and the financial look over the U.K. also has a lack of funding to introduce new dwellings in its place.

  Government Intervention:

Government provides affordable Housing:

Government intervenes in the housing system by providing the buyers with an affordable range of taxes and by the introduction of full price policies. The financial institution in the real estate market is responsible for this. Government controls the rent and care about the people’s affordability as well as the economic values. This intervention of government plays an efficient role in maintaining the economic progress in the real world.

 

Subsidies to help the first time buyers:

For assisting the first time buyers government introduced different policies in the legislative environment. It includes additional opportunities to help out those who are economically unstable, disabled, or are older ones. They have their specified rights. The transaction cost, procedure and the taxations values are relatively lower for those who are the first time buyers. Government of U.K. introduced new policies to make modifications in the real estate system. It enhanced both the factors of social progress and the economic values.

The political slant of the government allows the legal system to introduce such sort of policies in the working environment. Government also has the equity schemes for introducing specified interventions for those who are working for the first time.

Different starter home schemes are also introduced by the government to introduce beneficial subsidies.

CONCLUSION

In the concluding note, the U.K. has a vast housing system, and each housing systems have their policies. People adopt different accessing housing ways in different tenure for easy access like, owner occupied, private rent, and social rent. Various opportunities and barriers are also a part of accessing the house. The major ones among these are production, choice, and affordability. Leading providers identify the range of the housing developers. Government of U.K. has different interventions for the betterment of the housing system and dealing with barriers. U.K. is entirely different in its policies, and accessing housing system from other places.

 

References:

Gurran, N. and Whitehead, C. (2011) “Planning and Affordable Housing in the U.K.: A Comparative Perspective,” Housing Studies, 26(7 8), pp. 1193–1214. DOI: 10.1080/02673037.2011.618982.

Hodkinson, S. and Robbins, G. (2012) “The return of class war conservatism? Housing under the U.K. Coalition Government,” Critical Social Policy, 33(1), pp. 57–77. DOI: 10.1177/0261018312457871.

Stewart, J. (2005) “A review of U.K. housing policy: ideology and public health,” Public Health, 119(6), pp. 525–534. DOI: 10.1016/j.puhe.2004.07.006.

U.K. Housing Market The Housing Shortage: Economics (2020) tutor. Available at: https://www.tutor2u.net/economics/reference/uk housing market the housing shortage (Accessed: September 5, 2020).

BBC News U.K. (2018) “Number of middle aged renters doubles in a decade,” Available at: https://www.bbc.com/news/business 43504015 (Accessed: September 20, 2020).

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