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, 29 July 2015
New high for UK house prices
UK house prices rise
The UK Land Registry released its June 2015 House Price Index report yesterday, widely considered to be the most reliable of the indices.
House prices in England and Wales rose to new record highs, having recovered in full from the post-2007 correction.
However, disaggregating the data into its component parts shows that price growth since the financial crisis has really been all about London - and to some extent the Home Counties - versus the rest.
London prices are up by 9.2 per cent over the past year, taking the seasonally adjusted House Price Index soaring to 524.06 (1995 = 100).
The average London house price on this index is now £481,820, driven by record low interest rates and a chronic housing shortage.
The average UK house price rose by 1.1 per cent in June to £181,619 - an annual increase of 5.4 per cent - which even now is only just ahead of the May 2007 record of £180,893.
Within London, house price growth has cooled in the prestige areas such as Kensington and Chelsea and the City of Westminster, this moderation in growth following some extraordinary gains.
The best performing boroughs over the past year include somewhat more affordable boroughs such as Croydon (+14.6 per cent).