The topic of managing inflationary pressures in the housing market is increasingly relevant in today’s economic climate. This subject has appeared in various forms in past IELTS exams and is likely to continue being a popular theme due to its global significance. After analyzing recent exam trends, we’ve identified three potential question types related to this topic:
- Discuss the causes and effects of rising house prices.
- Evaluate government measures to control housing inflation.
- Compare the pros and cons of renting versus buying homes in an inflationary market.
For this article, we’ll focus on the second question type, as it directly addresses management strategies for housing market inflation.
Inflationary pressures in housing market
Analyzing the Question
Let’s examine our chosen question:
Some people believe that governments should take measures to control rising house prices. Others think the housing market should be left to function without interference. Discuss both these views and give your own opinion.
This question requires you to:
- Discuss arguments for government intervention in the housing market
- Discuss arguments against government intervention
- Provide your personal opinion on the matter
Remember to address all parts of the question and maintain a balanced approach throughout your essay.
Sample Essay for Band 8-9
Here’s a high-scoring sample essay that effectively addresses the question:
In recent years, soaring house prices have become a major concern in many countries, sparking debate about whether governments should intervene or allow the market to self-regulate. This essay will examine both perspectives and argue that while some government measures are necessary, they should be carefully balanced with market forces.
Those who support government intervention argue that housing is a basic need and should be accessible to all citizens. They contend that unchecked market forces can lead to severe inequality, with only the wealthy able to afford homes while others struggle with exorbitant rents or homelessness. Proponents of this view often advocate for policies such as rent control, subsidized housing programs, and stricter regulations on property speculation. These measures, they argue, can help stabilize prices and ensure fairer access to housing.
On the other hand, opponents of government intervention believe that free market dynamics are the most efficient way to allocate resources and determine prices. They argue that government interference can lead to unintended consequences, such as reduced housing supply if developers find it less profitable to build new homes under strict regulations. Moreover, they contend that market-driven solutions, like increased construction to meet demand, will naturally stabilize prices over time without the need for potentially disruptive government policies.
In my opinion, a balanced approach is crucial. While I believe some level of government intervention is necessary to protect vulnerable populations and maintain social stability, excessive control can indeed stifle market efficiency and innovation. Governments should focus on policies that encourage housing supply, such as streamlining building permits and incentivizing affordable housing construction. Additionally, targeted assistance programs for low-income families and first-time homebuyers can help address inequality without overly distorting the market.
In conclusion, managing housing market inflation requires a nuanced approach. By combining carefully crafted government policies with the dynamic efficiency of market forces, it is possible to create a housing market that is both fair and economically sustainable.
(Word count: 309)
Sample Essay for Band 6-7
Here’s a mid-range sample essay addressing the same question:
The issue of rising house prices is a big problem in many countries today. Some people think the government should do something about it, while others believe the market should be left alone. This essay will look at both sides and give my opinion.
People who want the government to step in say that everyone needs a place to live. They worry that if house prices keep going up, only rich people will be able to buy homes. This could cause problems like homelessness and make the gap between rich and poor bigger. They think the government could help by doing things like controlling rent prices or building more affordable houses.
On the other hand, some people think the government shouldn’t interfere with the housing market. They believe that when the government tries to control prices, it can cause other problems. For example, if the government makes it hard for builders to make money, they might stop building new houses. These people think that if we let the market work on its own, it will eventually sort out the problem of high prices.
I think both sides have good points, but I believe some government action is needed. It’s important to make sure everyone can afford a place to live, but we also don’t want to cause more problems by interfering too much. The government could help by making it easier to build new houses and maybe giving some help to people buying their first home. But they should be careful not to change the market too much.
In conclusion, I think the best way to deal with rising house prices is for the government to take some actions, but not to control everything. This way, we can try to make housing more affordable while still letting the market work mostly on its own.
(Word count: 295)
Key Writing Tips
When addressing this topic, keep the following points in mind:
- Structure: Ensure your essay has a clear introduction, body paragraphs discussing both viewpoints, and a conclusion with your opinion.
- Balance: Give equal weight to both perspectives before presenting your own view.
- Specificity: Use specific examples or policies to support your arguments.
- Cohesion: Use linking words and phrases to connect your ideas smoothly.
- Vocabulary: Employ a range of relevant vocabulary related to housing and economics.
Grammar and Vocabulary Notes
For Band 8-9:
- Use complex sentence structures: “While I believe some level of government intervention is necessary…”
- Employ sophisticated vocabulary: “exorbitant,” “allocate,” “stifle”
- Use conditional statements: “If developers find it less profitable…”
For Band 6-7:
- Use simpler sentence structures while still maintaining variety
- Use more common vocabulary while still being precise: “affordable,” “interfere,” “gap between rich and poor”
- Use basic conditional statements: “If house prices keep going up…”
Essential Vocabulary
- Inflation (noun) /ɪnˈfleɪʃn/: A general increase in prices and fall in the purchasing value of money.
- Intervention (noun) /ˌɪntərˈvenʃn/: The action or process of intervening.
- Speculation (noun) /ˌspekjəˈleɪʃn/: Investment in stocks, property, or other ventures in the hope of gain but with the risk of loss.
- Subsidized (adjective) /ˈsʌbsɪdaɪzd/: Supported financially by a subsidy.
- Exorbitant (adjective) /ɪɡˈzɔːrbɪtənt/: Unreasonably high (of a price or amount charged).
- Affordable (adjective) /əˈfɔːrdəbl/: Inexpensive; reasonably priced.
- Regulate (verb) /ˈreɡjəleɪt/: Control or maintain the rate or speed of (a machine or process) so that it operates properly.
- Incentivize (verb) /ɪnˈsentɪvaɪz/: Motivate or encourage (someone) to do something.
Conclusion
Managing inflationary pressures in the housing market is a complex issue that requires careful consideration of various economic and social factors. As you prepare for your IELTS Writing Task 2, remember to practice addressing similar topics. You might encounter questions about urban planning, social housing policies, or the impact of foreign investment on local housing markets.
To further improve your skills, try writing your own essay on the topic we’ve discussed. Share your essay in the comments section below for feedback and discussion with other learners. This active practice will help you refine your writing skills and gain confidence in tackling similar questions in the actual IELTS exam.
