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Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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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 finest 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.
Tuesday, 13 October 2015
UK house prices +5.2pc
My one-man mission to see all of Britain's country houses continues this week.
After Erddig in Wales earlier in the week, next off the list Kedleston Hall in Derbyshire.
Britain has managed to demolish more than 1,200 of its country houses since 1900, largely thanks to inheritance and other taxes.
Fortunately many have been handed over the National Trust to be preserved.
House price index latest
The latest UK house price index data from the Office for National Statistics showed UK house prices rising by a seasonally adjusted +0.7 per cent to be +5.2 per cent over the year.
Average mix-adjusted prices in England reached a new high of GBP298,000, not seasonally adjusted, to be +19.9 per cent higher than as at the pre-financial crisis downturn.
House prices in Scotland, Wales and Northern Ireland remain below their respective pre-correction peaks (in Northern Ireland prices remain a whopping -43.6 per cent below where they were at the bubblicious peak of August 2007).
The strongest growth over the past year has now been found in the immediate surrounds of London, namely the East (+8.8 per cent) and South East (+7.4 per cent).
London's premium central market is flagging in response to punitive stamp duty changes, although across the city prices are still up by +4.2 per cent over the past year.
Since January 2008 preceding market peak the strongest price growth has been seen in the capital city (+45.3 per cent), the South East (+21.7 per cent) and the East (+20.5 per cent) respetcively.
Still very few signs of inflationary pressures and so interest rates remain stuck at the zero lower bound, while buy-to-let mortgages broke a new record with Accord now offering a 1.84 per cent mortgage rate.
The latest mortgage data suggests that price growth will continue into the new year.