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  • Demand and supply, Price elasticity of demand, Price elasticity of supply, income elasticity of demand, cross price elasticity of demand

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UK house prices rise at the fastest pace since 2006

  • Identify the demand-side and supply-side factors which have contributed to UK house prices growing at the fastest pace in 15 years

  • Using a demand and supply diagram, analyse the effects of these demand and supply-side factors on the housing market

  • With reference to chart 1, UK house prices surged during the pandemic, calculate the percentage change from 2011 to 2021

  • Identify the stamp duty rates for England and Northern Ireland

  • Chart 2 illustrates that the house price-to-earnings ratio has increased to its highest level since records began in 1983. Discuss the implications for first time buyers

Gavin Clarke, Emmanuel College

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