The Impact of House Price to Low and Average Incomes Group

Tan, Jing Yuan (2022) The Impact of House Price to Low and Average Incomes Group. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

In this era of modernisation, every individuals’ goals are to own a house as a shelter, and it became the essential of life for the current civilisation. However, the housing prices in Malaysia is continuing rising in the past decades and the income increasing rate is slow among the nation. Moreover, the house price is become a consent which would impact some Malaysian, especially for those who are come from low and average incomes group and lived in city area like Selangor. In this research, due to the limitation of time is given to conduct the questionnaire, thus, the results might not be able to cover all other relevant information because the sample size is smaller. Besides that, the responses collected may vary due to different background of the respondent. In this research, a series of literature review was conducted through website, journal, article and books to collect the data. 100 questionnaire surveys have been conducted in targeted areas, which are Selangor. Furthermore, data collected from questionnaire are analysed by using descriptive analysis and inferential analysis with IBM SPSS. According to what has often been assumed, the rising house price and its contribution to unaffordability is largely attribute to the incomes which do not run proportionally to the house price. Our findings indicate most of the respondent from low and average incomes group are agree that the house price would impact the affordability. Our findings also indicate majority of the independent sample t test result are not significant and it means that the reasons that affect the house price and actions from government to help the low and average incomers will not impact house affordability in Selangor. This research which did not cover in previous studies might contribute some useful information toward future researchers on their understanding on the impact of house price to the low and average income group.