REMB35-Residential Real Estate and Policy

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Summer 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:

The 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.

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 be able to assess the impact of different policy interventions. Upon completion of the module students should be able to: 

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  apply economic and financial theory to housing market analysis; 

  
  


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  recognise the demand and supply drivers of dynamic housing markets; 

  
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  appreciate the role of socio-demographic factors and the consumer experience in housing; 

  
  


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  understand the importance of housing development and supply and the role of the planning process; 

  
  


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

  
  


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  analyse the choice of ten ure by households and the functioning of rental and ownership markets; 

  
  


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  understand the role and importance of Housing Finance; 

  
  

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  identify policy issues and different means of dealing with them and to 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 should also be able to: 

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  undertake an evidence-based approach for analysing public policy issues; 

  
  


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

  
  

The module will aid students in developing a thorough understanding of the primary factors influencing the behaviour of housing markets and their broader economic and social importance. The module will also enhance student’s quantitative and qualitative analytical skills. 

Outline content:

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  Housing Attributes 

  
  


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  Demand-Supply; Pricing 

  
  


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  Housing as an asset class 

  
  


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  Housing for low income households/affordable housing 

  
  


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  Migration and housing 

  
  

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  Mortgage; Housing Finance 

  
  


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  Mode lling housing market dynamics 

  
  


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  Regional model; neighbourhood/local housing 

  
  


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  Private Rented Sector 

  
  


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  Retirement housing 

  
  

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  Housing regulations; brokerage 

  
  

Global context:

Discussion on international housing markets where feasible. 

Brief description of teaching and learning methods:

The module will comprise of lectures. In addition, students are required to undertake a major individual written project. 

Summative assessment- Examinations:

No exam

Summative assessment- Coursework and in-class tests:

The module will comprise of one assignment. This will be a 5,000 word critical examination of a housing market topic with literature review, theoretical hypothesis and empirical analysis. 

Assignment Submission Deadline: Week 45

Formative assessment methods:

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:
The pass-mark for this modules is 50%.

Reassessment arrangements:

Reassessment will be by the same method as for the module’s original assessment requirements, subject to variation by the Examination Board where appropriate. 

Additional Costs (specified where applicable):

No additional costs

Last updated: 22 July 2021