So gentle subsidence, rather than a crumble to rubble seems to be the predicted pattern for house prices. There have been what seem, with the great gift of hindsight, inevitable ‘market corrections’ every few years (1989-92 and 2008-10). Many have been crying out for this one to ‘help the poor kids get on the housing ladder’; as long, of course, as it doesn’t hit the value of their own parental homes! Those who should know say it will be different this time, lots of jobs still out there, no mass redundancies and no 100% no-questions-self-certify-your-income loans to crash into negative equity. However, the combination of mortgages coming off fixed rates and soaring central heating bills could still lead to many a key being handed in. Let’s hope for a little lender compassion and understanding; and a some good old inflationary pay rises.
“John Lewis foray into BTR could result in losses of £57m”
I did predict a while ago that Waitrose Homes rather than Waitrose Home Deliveries could be the future. John Lewis were probably the most benign big business to decide to go into the housing rental market, a move which could swing things away from the unpredictability of the mass of private landlords who dominate the sector.
