Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, 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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Tuesday, 22 March 2016

England & Wales house prices beyond £300k

300 Gs

The average asking price in England and Wales has surged to beyond £300,000 for the first time, according to Rightmove's index for March 2016.

The £3,903 or 1.3 per cent jump in March was the second strongest March result since the credit crunch, as buyers scramble to beat the April 5 deadline for budgetary changes. 

House prices are up by 50 per cent or £100,000 over the decade comfortably outpacing wages growth.

This compares with enormous growth of 114 per cent for the English capital city, London.

Asking prices in London also racked up another all-time high in rising by £67,737 or 11 per cent year-on-year to £644,045.

Over the past year the fastest growth in asking prices was once again found in Greater London (+11 per cent), but generally price growth now appaears to be rippling out to the regions. 

Meanwhile, price growth across London boroughs is diverging, partly in response to stamp duty changes.

Six of the ten regions recorded record high asking prices this month. 

According to ONS data, since 2010 London house prices have increased at a faster pace than those of every other city except for one - adjacent Cambridge.