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).

5 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 finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Wednesday, 26 March 2014

London housing market breaking records

The Office of National Statistics released the latest housing market data for the UK here.

Daily Mail almost averaging one article a day on this now.

House prices grew +7.1% y/y in England, +6.9% in Wales, 1.4% in Scotland and +2.7 in Northern Ireland.

The average UK house price hit £254,000 in January, while prices in London topped £450,000

Long-time readers of this blog won't be remotely surprised to hear that (a) UK average house prices are making new all-time highs, and (b) it's London (+13.2% y/y) and the south-east of England (+7.1% y/y) that are driving the gains.

London is powering ahead of the rest of the country, with prices up 13.2 per cent in a year

Gross mortgage borrowing of £11.5 billion was a stonking 47% higher than the same month last year, and the highest level of lending recorded since 2008.

Given the UK's penchant for boom/bust cycles, there are to be no prizes for guessing what happens next: a continued substantial run-up in housing valuations.

House prices are now well above the pre-crash peak, raising fears of a new bubble