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Higher wages forced the local prices up hence inflating the economy.

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They found oil in Aberdeen, and so more workers were needed, so the demand for houses increased and so did price

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People moved to Aberdeen in order to get work, increasing demand but supply was limited, thus causing a drive up in price

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There was a surge in supply

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unemployed workers leading to a poor standard of living furthermore it may also increase government spending on unemployed benefits. It could also lead an increase in crime.

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Increase in demand for housing causing inflationary pressures on housing prices

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When oil was found the need for housing for the workers increased meaning that the demand for housing was higher resulting in an increase and more competitive market

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multiplier effect as a result of a new industry. e.g new jobs, families moving. 

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multiplier effect as a result of a new industry. e.g new jobs, families moving. 

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Demand for houses went up as people moved into Aberdeen which caused the prices of houses to rise

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Miners needed permanent accommodation so the demand for houses rose as did the price

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In the 1970s britain was highly industrial people moved to Aberdeen to take advantage of the newly found north sea oil and mining industry. In 1979 PM Thatcher came to power and instituted new economic policies that resulted in the closure of many industrial enterprises forcing people to move to more service based areas.

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Limited to supply and major increased demand will cause prices to increase to match demand

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Limited to supply and major increased demand will cause prices to increase to match demand

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Prices fell in the mid 80s because the labour to build new houses was only temporary, thus many migrated out of Aberdeen at that time, causing house prices to fall drastically.

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By closing the local pit, it will have made many of the locals unemployed as it is such a small area. Which has an impact on local shops as people spend less money if they have a lower disposable income and residents may relocate to new jobs

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Because the demand for houses increased and the supply was price inelastic so prices went up. The construction jobs were only temporary so the high demand didn’t last for long

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A new industry was created, meaning there were jobs created and people moved to Aberdeen to fill those jobs resulting in higher demand for housing, increasing the price.

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A new industry was created, meaning there were jobs created and people moved to Aberdeen to fill those jobs resulting in higher demand for housing, increasing the price.

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The house prices were highest because of the stimulation in the economy due to the raw materials found. This increased jobs meaning more real incomes for consumers and therefore increased spending meaning house prices went up

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They found oil.

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Increase in demand for houses and higher wages meant that prices could be pushed up from the extra demand in the economy 

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Increase in demand for houses and higher wages meant that prices could be pushed up from the extra demand in the economy 

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Local economy may suffer as miners no long net require homes there and could move away. Businesses will lose customers and therefore will lose out on profits

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The higher wages  forced the prices in the local area to inflate the economy

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An increase in the population due to the inflow of outsourced labour would cause the demand for houses to increase and therefore increasing the price

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Finding raw materials, triggered a chain of reactions through markets which caused more permanent workers to arrive, increasing housing rent. But died down due to less work needed to mine the raw materials.

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YASSSSSSS KWEEENNNNN

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Due to the closer of the local pit, slowly rent, costs and wages would slightly die down.