Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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 Hmmm, one of the world's most popular & widely-read financial publications.

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

Monday, 11 May 2015

UK house prices up 8.5pc on year

Average UK house price approaches £200,000

Halifax released its UK House Price Index for April 2015, and it showed average house prices rising by 1.6 per cent in the month to £196,412.

Quarterly growth increased to 2.2 per cent, and the average UK house price is now up 8.5 per cent over the past year.

The annual rate of increase has slipped some way below the 10.2 per cent level reached back in July 2014, partly as a result of the Mortgage Market Review twinned with election uncertainty.

Rock bottom mortgage rates and tight supply in the south-east continue to drive the market higher.

Mortgage approvals also increased over the past year despite a small decline in March according to Halifax, while consumer confidence as it relates to the housing market rose to its highest level since July last year.

Significantly this week the UK general election ended in a surprise Conservative Party majority as opposed to the widely expected hung parliament.

A clear majority victory is generally perceived to be good news for market confidence, particularly in prime central London where a flurry of market activity has already taken place.

Despite a number of misguided opinion pieces (or whatever they should be termed) about the London market having "crashed" or deflating sharply, house prices in the capital are actually up by 15.3 per cent over the year to March having crept higher yet again in Q1 2015.

Whether or not the election result sees the London market galloping back off to the inflationary races remains to be seen.

House prices in the south-east have also increased by 11.4 per cent over the year to March 2015 as tight supply bites hard.