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, 26 February 2014
UK mortgages spiralling (+57% y/y) to 2007 highs
Retail sales in the UK are at their fastest pace in 2 years.
Meanwhile, mortgage approvals are spiralling off the charts.
The British Bankers' Association reported 49,972 loans were approved for house purchase in January and increase of 57% y/y
The Government's Help to Buy Scheme has been partly responsible for driving demand.
Meanwhile, 22,972 approvals worth £3.6 billion were granted for re-mortgaging, up 51% y/y.
Mortgage approvals are at their highest rate of activity since boomtime in 2007, while prices have already leapt back to 2007 levels.
It's another property boom the UK. Make no mistake.
Futures markets are actually at long last pricing in an interest rate hike in early 2015.
When it eventually comes it will be the first time the official bank rate has been increased in Britain since 5 July 2007, when the bank rate was hiked to 5.75%.