本文是一篇economics Essay经济学论文代写案列，分析的是英国房产过热的背后。英国的房地产繁荣了十多年。2008年经济危机时才开始时慢了下来。在经济繁荣时期英国房地产的价值飙升,以及在某些情况下的投资价值上涨了超过200%。这一繁荣现象的主要因素之一是经济长期持续增长,而且利率由政府和保持低。添加到这些因素导致本地和外国投资房地产投资的热情不减。这其中却隐藏了危机，最后政府严格控制的新的地产建在那段时期,以便有效需求超过供应。
The United Kingdom enjoyed serious property boom for over a decade.The property boom slowed down when the economic meltdown commenced in 2008.During the boom years the value of property in the United Kingdom soared,and in some cases the value of properties rose by over 200 percent
One of the main factors for the boom was that the economy had a long period of sustained growth,furthermore the interest rates were regulated by the government and kept low.Added to these factors was an upsurge in property investments fuelled by both local and foreign investors.Finally the government kept a tight control on the number of new houses built during that period,so that effectively demand outstripped supply(Cameron,2005:5).
Currently,the bubble in the property market in the United Kingdom has burst and the market is currently undergoing some reforms.Prices are no longer rising as fast as they were some years ago and there is now an oversupply of houses in the property market as home owners are reluctant to sell in this current state.The effect of this is that supply of properties out stripes demand in residential property(Ruddick and Moore,2010:1).
The economic slowdown affected all sectors of the property market,however the price of houses in London are slowly picking up and this is due to the weak pound that has made a lot of foreign investors to come in to the UK and invest in properties(Evening Standard,March 30,2010).
Stake holders are arguing that the Carlsberg review of residential properties should be the bench mark for carrying out reforms in the residential sector as well as all the other sectors of the property market.Furthermore,the reforms currently going on is aimed at producing better and more information to customers,this lead to the introduction of the Home Owners Information Package(HIPs).
The government plans to regulate the property market,especially the estate agents so that it will no longer be an all comer’s affairs.Finally,there is now a standards board in the property industry,although they have limited powers.
On the other hand,the residential property market in Europe is different from the property market in the UK.The residential property market in the UK encourages people to buy their own homes,unlike in Europe,where the emphasis is more on long term renting(Oswald,1999:10).Credit is readily available in the UK in order to assist home owners to buy properties,unlike in Europe where it was not easily available(Oswald,1999:10).However all this has changed as the residential property market in Europe is undergoing some reforms that has had a great effect on the residential,commercial and industrial properties all over Europe.It appears that most European nations are copying the UK model and are now encouraging its citizens to be home owners instead of renting.Spain is a good example(Oswald,1999:7).
Furthermore,with the opening up of the EU,Europeans can now move to any EU country and acquire property,this factor has greatly affected the property market in the EU,because capital can now be moved easily and investors in one part of the EU can take advantage of cheap properties in any other part of the EU.
Finally,it appears that for eight years starting from 1990,the reforms and gains of the real estate market in the United Kingdom were modelled on the system of the United States;however for six years starting from 1998,the property market in the United Kingdom appeared to be harmonized with that of its European neighbours(Lee,2009:32).
Commercial Property and Industrial Property
Commercial properties are scarce in the UK and demand exceeds supply.This among other factors led to a boom in the commercial property sector.However there appears to be a slump at the moment as Commercial property in UK was also affected by the global economic down turn.However current reports indicate that the commercial property sector in the UK is picking up and investors are starting to snatch up prime commercial properties(Evening Standard,March 30,2010).
The commercial property yield in the UK is quite impressive and high compared to its European neighbours.
On the other hand,commercial properties in Europe also appear to be booming.The European economy is recovering and a lot of foreign investors are investing in commercial properties in Europe(Oswald,1999:7).The economic meltdown has also affected the growth of commercial property in Europe and the sector is also undergoing reforms just like the market is undergoing in the UK.Most EU countries have put legislation in place in order to allow real estate investment trusts(Oswald,1999:27).This legislation will make it easier for foreign investors to invest in the commercial property sector and inject the much need funds in order to keep the commercial property sector booming.
Finally the demand for industrial property is low in the UK.This is due to the fact that a lot of industries are closing down due to high cost of labour and the strong Pound Sterling.Companies are moving their operations to Europe and other areas where it will be cheaper for them to operate.While in Europe the demand for industrial property is booming,due to the stability of the Euro as well as the economic prosperity in the Euro Zone.Furthermore due to some recent EU Directives,setting an industry in some EU countries is now a lot cheaper and easier than it used to be.
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