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.
Friday, 21 February 2014
UK mortgage lending £15.5 bn (+33% y/y)
The UK Council of Mortgage Lending (CML) released its figures for January 2014 overnight.
Gross mortgage lending was an estimated £15.5 billion in January, according to the CML.
This is down 8% compared to the gross lending total of December 2013; however, it is a third higher than January 2013 (£11.6 billion).
January and February tend to be weaker months of mortgage lending in the UK, but the huge growth in year-on-year figures sent commentators into a fit of hyperbole about a 2014 house price boom.
The answer to that riddle will likely be found in the months of April-June when traditionally housing market activity ramps up.
I charted the last 12 months of figures of below.
Chancellor George Osborne has warned in a forecast that UK house prices will rise for the next decade due to supply issues.