Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, 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

Monday, 23 September 2013

UK home approvals +49%

On a day when gold dropped again, and there is once again a looming risk for the stock market (US debt default confrontation), here's another property-related story from Bloomberg - the death of Britain's housing market was very much exaggerated:

"Homes approved for construction in the U.K. rose 49 percent in the second quarter as government assistance boosted mortgage lending and building permits became easier to get.
Approvals climbed to 37,000 from the same period a year earlier, the Home Builders Federation said in a statement today. The total for the 12 months through June reached 156,608, a 34 percent increase from the lowest year-long period, which ended in September 2011.
The gain “reflects house builders’ increasing confidence in the market and also the positive principles of the new planning system,” Stewart Baseley, executive chairman of the industry group, said in the statement. “With Help to Buy forging ahead strongly and developers looking to increase output, we need to see the increase sustained.”
U.K. house prices climbed for the seventh month in August and will probably continue to increase through the rest of the year, according to a report by Halifax, the mortgage unit of Lloyds Banking Group Plc. Home values increased 0.4 percent from the previous month to an average 170,231 pounds ($272,676), Halifax said. Prices gained 6.2 percent from a year earlier.
The Bank of England’s Funding for Lending Scheme has helped lower mortgage costs while Chancellor of the Exchequer George Osborne’s Help to Buy program allows a home purchase with a deposit of as little as 5 percent of the property’s value. U.K. lawmakers also made it easier last year for home builders to appeal when boroughs voted against approval of housing projects.
Approval rates remain substantially below the 220,000 a year needed to meet the demands of a growing U.K. population, the HBF said. “Onerous” conditions set by local authorities on planning approvals continue to delay construction, the group said.
Buyers have reserved 12,500 homes for purchase through Help to Buy in the five months since the program was introduced in March, the HBF said."