The stock market has plummeted, rebounded (a bit) and will bounce around for a while longer. But even pre-Covid, I was prophet-of-dooming about the housing market. I just couldn’t see, with all the new stuff being chucked up left, right and centre, how a fall (or plummet) in house prices could be avoided. It’s coming, if not already-arrived, I fear. We’re at the stage where only those who have to are moving, and even already-committed buyers are putting in silly, gazundering offers. Stay put if you can, is my advice. And if you’re renting and want/are able to buy, it could be time to pounce.
“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.
