REMF53-Housing Markets and Policy

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Spring term module
Non-modular pre-requisites:
Modules excluded:
Module version for: 2017/8

Module Convenor: Prof David Clapham


Summary module description:

The module will examine the justifications for and the basis of state involvement in the housing market and describe and evaluate the main policy mechanisms used such as regulation of private renting or the provision of social housing.  The module examines different forms of housing policy analysis, including economic analysis.


The module aims to review the justifications for and the basis of state involvement in the housing market and describe and evaluate the main policy mechanisms used such as regulation of private renting or the provision of social housing. The module aims to provide students with the tools to assess housing problems and policies.  The module will use the theory and practice of housing economics 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. By the completion of the course students will be able to:

- Apply economic and financial theory to housing market analysis;

- Recognize the demand and supply drivers of dynamic housing markets;

- Appreciate the role of socio-demographic factors in the housing market;

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

- Have an understanding of the importance of housing in a macro-economic context;

- 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 owner markets;

- Understand the role and importance of Housing Finance.

- Understand the consumer experience in housing, including the meaning of home, neighbourhood and community, the concept of housing quality and tenure rights and obligations.

- Be able to identify policy issues and different means of dealing with them and to assess the outcomes of policy interventions.

- Understand the main policies and procedures for the management of social housing.

- An ability to analyse a housing policy issue 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.

- To 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:

- The Attributes of Housing Markets

- Housing Demand and Supply Drivers, Price Determination

- Housing and the Macro-Economy

- Land Supply and Housing Development

- Housing Finance and the Mortgage Market

- Tenure Choice

- The State and Housing Markets; constructing a housing market and market institutions

- Housing pathways

- Housing tenures ; rights and obligations

- House and home

- Housing quality, housing and health

- Inequality and segregation; mixed communities

- Housing renewal; slums and shanty towns

- Low income housing – different forms of intervention and their impact

- Managing social housing

- Housing strategies and plans

- Assessing housing needs

Brief description of teaching and learning methods:

The module will comprise of lectures and tutorials sessions. In addition students are required to undertake a major individual written project in housing economics.

Contact hours:
  Autumn Spring Summer
Lectures 20
Seminars 10
Guided independent study 170
Total hours by term 200.00
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written assignment including essay 100

Other information on summative assessment:

Essay is of 5000 word length.

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:

Length of examination:

Not applicable

Requirements for a pass:

The pass mark for the module 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.

Last updated: 18 July 2017

Letter 'IPO.MODCAT1STKT' - Generation started at 18/Jul/2017 11:11:45.05.

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