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'.

Tuesday, 16 February 2016

UK house prices surge pre-deadline

Deadline rush

Britain is undergoing its own attempts to cool investor activity in the housing market through making tax deductions less attractive going forward.

It is still early days, since the new tax laws are to be phased in over time, but to date all that has been achieved is an enormous surge in buy-to-let mortgages in order to beat the deadline.

Rightmove's latest asking prices index notched up a substantial +2.9 per cent or £8,324 jump to an all-time high for UK asking prices (+7.5 per cent over the year to £299,287).

Meanwhile London asking prices (+10.5 per cent to £643,843) leapt to an astonishing new high.

Many of London's best performing boroughs have been the cheaper or outer locations, reflecting changes to stamp duty levies and associated thresholds.

The supply of property coming to market has abjectly failed to keep pace with demand, as measured by indicative visits to Rightmove's website which increased by +20 per cent over the year.

The strongest growth has unsurprisingly followed demographic and employment trends, being recorded in London and its surrounding regions, the South East and East of England. 

Elsewhere, price growth since 2007 has been far more subdued. 

Hearteningly Government incentives have seen a solid increase in the number of first time buyers properties and activity.

The January jump in prices has "undoubtedly been caused by panic buying" by investors ahead of the April deadline (the UK tax year runs to April 5), which was predictable enough. 

Rightmove's full report can be found here