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Why Is Britain's 10 Most Affordable Cities

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Britain's 10 most affordable cities Introduction: Demand and supply is a basic economic concept that when applied to different markets, can help people make decisions about things, such as where to live and what the cost of living would be in that area. Connection to article: Recently, a survey has been conducted by “The Telegraph” to determine Britain’s most affordable and most expensive areas to live. These prices are a result of a change in demand and supply. Analysis of the article: Demand is described as a curve which shows the amount of a product which consumers want and can purchase at different costs during a specific period of time. Supply is also a curve which shows the different suppliers that are willing to provide a product at different prices. The equilibrium quantity and price are always determined by the intercession of the demand and supply line. Lastly, price elasticity of demand, or PED, is used to show the responsiveness of consumers to a change in the price of a product and is reflected in the slope of demand. …show more content…

From the graph we can clearly see that demand for housing in Oxford is higher. This is due to the fact that there are many employment opportunities present in that city. Along with this, Oxford is an extremely built up area, this means that spare land is very scarce, this then contributes to the high rent costs in that particular area, this then results in it being very inelastic, compared to cheaper areas such as Londonderry. Demand for housing in Londonderry is low, this is due to the fact that job opportunities are low, which means less people are able to move into this area, this then means that demand is somewhat elastic and responds to the change in rent

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There was a high demand for housing as there was a rise in the number of women and servicemen returned home from the war, many of them wanted to marry and start families. Not only this, there were also fears of homelessness and this raised the need for more housing in the country (Glennerster, 2000). Bevan wanted the new houses to be built as much higher a standard than it was already being discussed at the council in order to improve the living standard of the people. Labour government 1945-50 wanted to build quality housing and not quantity for the people. They claimed that working class people were to live in a quality housing as the middle class.

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Imagine that you have won a new house and you can build it anywhere in the United States. You want to live in the best city that has the best school system for your kids. You also want to live in a city where the area is nice and clean. There are more than 20,000 cities in the United States. Finding a new city to move into takes a lot of research.

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This diagram (F1) is of a regular supply and demand chart. The supply curve increases because producers want to sell more of a product at a higher price, since it’s costing more to provide more products, while the demand curve goes down, due to decreased interest in a good when it costs more. The point where they come together on the chart is the equilibrium point, where the producer can make a decent profit, while the consumer can still reap a decent utility (satisfaction) out of the product. This diagram (F2) portrays an increase in demand, or a shift to the right of the demand curve (from D to D1). This means that a consumer (a buyer of a good) is willing to pay more for a good due to an increased desire for that

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The city’s layout would remind someone of London or Edinburgh

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These zones are additionally really reasonable, so you get both security and investment funds in one! The UK capital is a colossal, sprawling and socially various range, and on the off chance that you don 't have a clue about the city it can feel like an overwhelming assignment to pick the right zone in which to live. Personal satisfaction and low wrongdoing figures are certain to highlight profoundly in your rundown of needs. So we should examine the most secure regions to live in London, and precisely what you can anticipate from every district.

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The majority of the population lived mainly in rural areas although London was growing rapidly. This growth in population was not matched by a growth in jobs and led to an increase in demand for food. Landowners met that demand with more intensive and more efficient farming methods which resulted in a surplus of labour and caused real hardship for tenant farmers who had to seek employment elsewhere, employment that was not readily

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Although the land price remains lower than the center of the city that why people tend to move to an accessible region with lower land price (Freese & Sternberg, 1998) 2- The equal distribution of resource all over the country: People won’t move to suburban area if the main resources were not available there. The distribution of resource in all the country will reform the wealth and decrease the poverty in suburban areas. 3- Job opportunities: This is

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