Residential Property Assignment – UK

Unit Overview :-
This unit is about monitoring changes occurring in the local property market and determining their impact on the saleability or rental value of different properties within it. It includes making reasoned recommendations regarding the marketing of properties in the light of findings.signment – UK

Changes in your market could include examples such as:
Major development or re-development of the local area (this could be housing or shopping centres etc) Businesses coming or leaving the area (think of how the construction will impact the temporary market and what long term effects it has on the market).
Brexit – has this affected the community you work in?
Covid 19 – what impact has this had on your market?
Schools – new schools being built or closed, Ofsted grade changes change of operational management
(state-run to an academy).
Transport – new rail links to the area.

How this workbook can be used
This workbook will help you to:
 Understand how to monitor changes in the local property market
 Know how to assess the impact of changes in the local property market
 Be able to monitor changes in the local property market
 Be able to assess the impact of changes in the local property market

Residential Property Assignment – UK

Be prepared to discuss your responses in the workbook with your trainer and line manager.

Resources
The resources that you can draw on to help you complete this work book are almost limitless but some of the most useful are listed below:

 Discussions with your line manager
 Business reports or other management information from your company
 House price index
 News reports
 Your own reflections based on your branch successes and challenges
 Websites such as Rightmove, advertising, editorial, publications
 Generic search engines such

Understand how to monitor changes in the local property market (answer the questions below)

Explain why it is important to monitor changes in the local property market. How does your own branch monitor these changes?

Describe the importance of determining a meaningful time span over which changes can be monitored – how will you determine this for your project?

List the sources of information available to you to monitor the local property market and how do you access it

Why is it important to check the information you research is accurate and current before you use it?

List local and national factors which can cause changes in the local property market

List the typical types of changes which can occur in the local property market.

Residential Property Assignment – UK

Using the resources you have listed above determine the following;

What is the size of your local property market?

What is the nature of your local property market?

What factors affect your property market? Can you detail any changes you have experienced that have affected the property market?

Are these factors local or national? Think about PESTEL which we looked at when completing the Context activity. You may also wish to consider supply and demand factors and price equilibrium.

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