... to rise. Transport infrastructures in the area of the house can have an effect on its value. After the electrification of the North Eastern railway line the house prices around the York and Peterborough mainline railway stations went up. The North is seen as having fewer amenities and has a higher crime rate than the South, this been a consumer perception, and so the house prices in the North are lower. This graph shows how when the demand of a house increases the price increases if the demand stays the same. The more expensive areas to live like the Home Counties and Greater London have a greater demand due to desirability and Price. However if everything is ceteris paribus but Price and demand then we should see more expensive places having a lower demand like so: ...

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