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The affordability of housing in the UK reflects the ability to rent or buy property. There are various ways to determine or estimate housing affordability. One commonly used metric is the median housing affordability ratio; this compares the median price paid for residential property to the median gross annual earnings for full-time workers.
The mortgage industry of the United Kingdom has traditionally been dominated by building societies, the first of which opened in Birmingham in 1775. [ 1] But since the 1970s, the share of new mortgage loans market held by building societies has declined substantially. Between 1977 and 1987, the share fell drastically from 96% to 66%, and that ...
A house price index (HPI) measures the price changes of residential housing as a percentage change from some specific start date (which has an HPI of 100). Methodologies commonly used to calculate an HPI are hedonic regression (HR), simple moving average (SMA), and repeat-sales regression (RSR).
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Price on application. Price on application (sometimes price on asking ), more commonly abbreviated as POA, is a term often seen on price lists, classified advertisements and is commonly used with regard to real estate prices. It means the seller or selling agent must be contacted in order to obtain the price.
Public housing became needed to provide "homes fit for heroes" in 1919, [4] [5] then to enable slum clearance.Standards were set to ensure high-quality homes. Aneurin Bevan, a Labour politician, passionately believed that council houses should be provided for all, while the Conservative politician Harold Macmillan saw council housing "as a stepping stone to home ownership". [6]
The Right to Buy scheme is a policy in the United Kingdom, with the exception of Scotland since 1 August 2016 and Wales from 26 January 2019, which gives secure tenants of councils and some housing associations the legal right to buy, at a large discount, the council house they are living in. [1] [2] [3] There is also a Right to Acquire for assured tenants of housing association dwellings ...
Construction estimating software. Construction cost estimating software is computer software designed for contractors to estimate construction costs for a specific project. A cost estimator will typically use estimating software to estimate their bid price for a project, which will ultimately become part of a resulting construction contract.