Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

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.

Wednesday, 15 January 2014

House prices rising across the UK

The Office of National Statistics (ONS) released its house price index for the UK yesterday.

It showed that house prices are rising across the board, but most especially in London over the past year.

I dropped the figures into a chart for 2002-2013.

Look at Northern Ireland's chart! A huge bubble followed by a huge collapse due to a massive oversupply of housing in the country, plenty of which is now being demolished.

The rest of Britain didn't have quite such an incredible run-up in prices, and therefore the correction was less severe. 

Personally, I'd stick to London or within a 45 minute commute of the City.

I note, however, you'd have actually done pretty well had you held property pretty much anywhere in the UK from 2002 in spite of the financial crisis (although less so in remote parts of the country or parts of the north-east).

Source: Office of National Statistics

Reports Auntie BBC:

"House prices were up by 5.4% in the UK in November, compared with a year earlier, and up 11.6% in London.

But, excluding London and the south east of England, prices were up by 3.1%, compared with 2.1% inflation.
House price growth has largely be driven by London over the last year, although other areas have started to show accelerating price growth.
The ONS recorded year-on-year increases of 5.6% in England, 5.4% in Wales, 2.5% in Scotland and 3.3% in Northern Ireland.
Regionally, there were rises of 4.5% in the south east of England, 4.4% in the West Midlands, and 4.2% in the north east of England. Every region showed annual house price growth."