Prices rising much faster than inflation!

[DimPrawn]

A £250K home in Swindon is not in the right "asset class".
HTH.

Did you include the Kebab Shop in that valuation?

[Ticktock]

I suspect it is investors preempting a rise in Jan/Feb next year when the homebuy extension starts. But if house prices and sales continue to rise, why is homebuy needed?

It depends on the goal.
If the goal is simply for house prices to rise then the question is fairly valid.
If the goal is, for whatever reason (moralistic, practical, political or whatever), to ensure that more people on lower incomes (i.e. from above national average wage and down) can get on the property ladder, then rising prices work against this and the homebuy scheme (crap as it is) becomes even more neccessary to allow this to happen.

I suspect that the scheme is more political in nature - I'd guess that around 3/4 of the electorate who are not currently homeowners cannot afford to become homebuyers (based purely on prices vs. average wages and mad guesswork). This would probably be biased to the younger age groups, with an upwards tail through older groups. You may say, "Who cares - they're younger, and we have an ageing population (who are more likely to already own their home) so a minority", but eventually the older generations are going to start kicking up a fuss when their kids / grandkids keep tapping them up for money to help buy a house.

[scooterscot]

Last year my houses earned more than me - snort snort.

[RedSauce]

apparently prices in some areas of London are starting to drop.

London Luxury-Home Prices Fall in June On Cash-Deal Drop - Bloomberg

[Mich the Tester]

Last year my houses earned more than me - snort snort.

Well then send them to the supermarket to go and buy the shopping.

[scooterscot]

Well then send them to the supermarket to go and buy the shopping.

Could that work? Instead of collecting the full rent my tenants could shop & deliver my Waitrose shopping....

An exchange of trade, + reducing my tax liability.

[sasguru]

Last year my houses earned more than me - snort snort.

Most things/people would earn more than you given your dreadful illiteracy and innumeracy.

[d000hg]

Fantasytic news!

FTFY

[Troll]

Can't wait for interest rates to start ticking up

[d000hg]

Can't wait for interest rates to start ticking up

Hoping to have made a big dent in the mortgage by then... after all grandad is 97...