Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Friday, 30 August 2013

UK house prices +1% in July

Stimulatory policies are having the desired impact in Britain.

Mortgage approvals soared last month by 30% y/y, so we're expecting house prices to follow in due course.

Borrowers will be drawn in by comments from the Bank of England Governor which suggested that interest rates will remain at record lows for some years to come.

From Property Wire:

"House prices in England and Wales increased by 1% in July, taking the average house price to
£164,098, the latest data from the Office of National Statistics shows.
The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 6.3%. The average price of property in the capital is £385,799 in comparison with the average for England and Wales of £164,098.
The most up to date figures available show that during May 2013, the number of completed house sales in England and Wales increased by 19% to 62,651 compared with 52,516 in May 2012.
'Mark Carney, Governor of the Bank of England, has quelled fears that we are sitting on a volatile property bubble, by indicating that the Bank is ready with a plethora of tools to guard against such a scenario. His additional signal that interest rates are likely to remain the same until late 2016 injects further confidence into the rapidly recovering property market, with lenders able to offer highly advantageous deals for those seeking to step onto the property ladder,' he explained.
'Today’s Land Registry House Price Index shows that property prices are continuing to rise across the UK due in part to the increase in sales transactions which are up 19% annually in May 2013. While demand is very high, our market monitor this month indicated that new buyers across the UK are up 28%, and the majority of people have not cottoned on to the fact that the economy, and the property market, are looking incredibly rosy now is the time to sell now before everyone else does,' he added."