RE3HMP-Housing Markets and Policy

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:6
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2021/2

Module Convenor: Mr Chris Foye
Email: chris.foye@henley.reading.ac.uk

Type of module:

Summary module description:

This module will provide students with an awareness of the economic principles that underpin residential property markets and relevant government policies. Students will be able to assess the impact of different policy interventions in the housing market.

This module is delivered at the University of Reading only. 

Aims:

The module aims to provide students with the tools to assess housing problems and policies. The module will use economic theory and empirical tools to study housing markets in a dynamic context, with emphasis placed on demand-side and supply-side drivers. The role of finance in the housing market will be explored, as will the impact of regulation. The roles of market search, estate agents, developers and financial institutions will be considered from an economic perspective and the links between the housing market, the macro-economy and business cycles will be investigated. The merits and demerits of the various methodologies to derive house price indices will be analysed. Empirical analysis will be undertaken in appropriate sections.

Assessable learning outcomes:

The module will provide students with an awareness of the economic principles that underpin residential property markets and will provide them with the ability to assess the impact of different policy interventions. Upon completion of the module, students will be able to: 



• Apply economic and financial theory to housing market analysis; 

• Recognise the demand and supply drivers of dynamic housing markets; 

• Appr eciate the role of socio-demographic factors and the consumer experience in housing; 

• Understand the importance of housing development and supply and the role of the planning process; 

• Analyse the relationship between the housing market and the national, regional and local economies; 

• Analyse the choice of tenure by households and the functioning of rental and ownership markets; 

• Understand the role a nd importance of housing finance; 

• Identify policy issues and different means of dealing with them, assess the outcomes of policy interventions using a variety of data sources, and to make recommendations for future policy and practice.  

Additional outcomes:

By the end of the module it is expected that the student will be able to: 



• Undertake an evidence-based approach for analysing public policy issues; 

• Demonstrate research and learning skills, e.g. literature search and review, case study exercises, familiarity with web-based research material and sources. 

Outline content:

• Housing Attributes 

• Supply/Demand and Pricing 

• Housing as an asset class 

• Housing for low income households/affordable housing 

• Migration and housing 

• Mortgage; Housing Finance 

• Modelling housing market dynamics 

• Regional model; neighbourhood/local housing 

• Private Rented Sector 
• Retirement housing 

• Housing regulations; brokerage