Compare the jobs of property owners and the change in pricing of properties over the years.

Dexter Pickett 11A Maths

Assignment

Math’s Coursework

Introduction –

I am interested to find out the relationships between the jobs that people have and their property (semi-detached houses, flats, etc.). I feel my research could help me to understand the best areas and pricing in which to buy a house, either as a first or second time buyer. This would help me in the future as I would have a better understanding of the best areas to invest money in and how much they are likely to increase in price over a certain number of years.

In addition, I could compare the ages of the owners and the whether they are couples or families. This might affect the results, as owners with larger requirements/amount of people are more likely to buy a bigger property, which would, in turn, affect the prices. Another of my main achievement hopes is to draw conclusions from the property, area and the amount it has changed in price over the years. This is important as it the results will provide us with clues to the best areas, and the amount it would go up in price.

I will arrange any found data into tables and graphs (for better organisation), after which I will I will look for any trends/patterns I can see. From this I can draw conclusions. I will design a questionnaire – using a sampling method. This is most suitable for my survey, as it is smaller and more manageable (taken from a small part of the population). However, to reduce the risk of bias, I will use the Random Sampling method. This means that every person on my list has an equal chance of being selected. Nevertheless, I will run a pilot ...

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Aim –My main aims are; to compare the jobs of property owners and the change in pricing of properties over the years; to compare this with the age of the owners and whether they are couples or families; and to compare the area, type of property and how much it has changed in price over the years.

Prediction/Hypothesis –

I can gain three hypothesis/assumptions from my aim:

That the more income achieved from a job yearly, the greater the pricing of their property (However, this is varied by factors such as the number of people living there);

The younger the buyers (first time buyers would tend to spend less on their first house), the less money the properties were likely to have been originally bought for;

The greater the potential of the area and the type of property, the more it increases over the years.

Collections –

For my results, I will use random sampling to narrow my results to about 50 records. This will include: area, Number of people living in the property, Original price bought for, Rough price now, First / second / third time buyer and the age(s) of the owner(s).

Problems

Can’t compare Flats with rent (pw and pcm) and houses (with mortgages pricing. So I will convert flat prices to, roughly a 25-year mortgage. The formula for this is

e.g. rent price of 150 pw – convert to years. 150 x 52 = 7800, then convert to a 25 year mortgage, i.e. 7800 x 25yrs = 195,000.

From the graph of percentage increase in relationship to 1st/2nd/and 3rd time buyer, we see an obvious difference between these three groups. In general, 1st time buyers tend to have a higher percentage price increase, with second-time buyers next highest and 3rd time buyer lowest. This is because 1st-time buyers tend to spend lesson on their 1st property and, if they still own it, have spent more time in ownership of it than, for example a 3rd time buyer. This would most probably mean that it would increase by more than other properties.

This graph shows the ranges in prices of different kinds of properties. Quite obviously, we see that house have a greater average price than any of the other kinds. The results from Terrace properties show a big range. These results don’t seem very reliable – as there are only 2 results, which seem to contradict each other. Suites, quite obviously are quite expensive – as much as some of the houses. However, again there is one record to draw a conclusion from which devalues its strength of reliability. This is the same with the “Apartment” result, which lies at about the pricing. “Flats” and “Flat/Block” are averagely priced lowest in relationship to the other properties. These results are quite accurate, as they are taken from many different areas around London - however, I know that flats can range greatly in price – which mostly contradicts my results.