We tend to think that obsessing about house prices is a Brit-thing, but the relentless (for now) rise in the value of homes is a thing in the US, Canada, DownUnderland and Scandewegia, too. They’ve shared the same highs and disadvantages as us, nothing on the market, bidding wars for what there is, first-timers not affording anything, those sitting tight thinking they’re rich. It is now, however, unravelling in a few of those places, with prices falling, interest rate rises biting, and reality setting in. As it always does, alas. What goes up has to eventually bump against a ceiling of some kind. So if you have a home, be glad for those who might now be able to afford one.
“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.
