Housing marketing between cardiff and aberystwyth in wales
The determination of prices in local and regional housing markets is a classic example of microeconomics in action! We are seeing the interaction between buyer and seller with prices being offered and agreed before a final transaction is made. In this section we focus on the demand and supply side factors that determine the value of properties in a market.
Each housing transaction in the UK depends on:
a? The price that the seller is willing to agree for their property with the prospective buyer.
a? The actual price that the buyer is willing and able to pay.
Buyers place offers for a property that the seller can either accept or reject.