Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
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.
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Friday, 21 August 2015
London house prices rise again
The Office for National Statistics released its UK House Price Index for June 2015, which showed house prices rising by +6.1 per cent in England and +9.0 per cent in Northern Ireland over the past year.
However, annual house price inflation was weak in Wales (+0.8 per cent) and negative in Scotland (-0.6 per cent).
Has UK property been a good investment?
The answer is, it depends.
The UK all dwellings index has surged by a further +1.3 per cent to its highest ever level at 211.0 in June 2015, which is a solid +16.7 per cent higher than its January 2008 level of 180.8.
That said, the returns have been driven almost exclusively by London and some of its surrounding satelitte cities.
The price index for London increased to a record level of 249.1 in June 2015 which is +1.8 per cent higher than the previous record in May 2015 (244.8) and 42.8 per cent higher than the pre-economic downturn peak of January 2008 (174.5).
Since 2008 there has also been some solid growth in the regions immediately surrounding London such as the South East (+17.5 per cent) and the East (+16.3 per cent).
Elsewhere in regional Britain dwelling prices are often only recovering either to or slightly above their January 2008 levels.