Factors to prompt an economic or social change in the housing market

This is a paper that focuses on the factors to prompt an economic or social change in the housing market. The paper also provides various questions to answer the paper with marks.

Factors to prompt an economic or social change in the housing market

Subject:
The United Kingdom’s exit from the European Union (Brexit) is causing implications on home ownership, the letting market, and also the real estate sales market in the UK. The repercussions are expected to be significant and major and also would influence nearly all spheres of life in Europe, as well as overseas. The key focus of the current coursework is to examine the factors expected to prompt an economic or social change in the housing market.

Required:
Using Office for National Statistics (ONS), The World Bank, http://landregistry.data.gov.uk, Bloomberg and other sources, download Quarterly/Monthly data for house price of
all property types for three different Location in United Kingdom (London, Birmingham, Wales, Northern Island and also Scotland) and other relevant datasets onto the statistical
software package as requested. Please note: each student is assigned different dates for the data set. Date: November 2016 to September 2019
Access and download the dataset.

Answer to the following questions:

Firstly, compute full descriptive statistics including mean, Standard deviation, Skewness, kurtosis and draw histogram. Interpret the results ( why the variation is higher or lower between the locations etc) (10 marks)

Secondly, draw the scatter plot between London and 2 other different locations. Check for normality (perform Chi square test). (20 marks)

Thirdly, using multiple regression analysis taking house prices as dependent variable for all locations, determine the impact factors (e.g. Interest rate, Economic growth, Mortgage availability, employment, Infla3on etc.) as explanatory (independent) variables for both regression models. (20 marks)

4. Fourthly, test the significance of each independent variable (for all locations). Interpret the results. (10 marks)

Lastly, perform F-test to test the significance of each regression model. Interpret the results.

(10 marks)

Write a report discussing the house prices fluctuation and also potential impact of Brexit.

(30 marks)  ( around 1250 words)

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