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, 23 March 2016
London house price passes £550,000
London & Home Counties lead
The UK Office for National Statistics released its latest House Price Index for January 2016 which showed England prices surging by +8.6 per cent over the year to an all-time high of £306,000.
By contrast prices were either broadly flat or falling in Scotland, Wales and Northern Ireland in the year to January. In Northern Ireland the index remains 42.9 per cent below the August 2007 peak.
At the other end of the spectrum London prices are now +53.4 per cent higher than at their pre-crisis peak, and London's mix-adjusted average house price has given me a fresh y-axis headache in blazing off the top of the chart to £551,000.
Over the year to January 2016 the price growth was heavily focussed on the capital city and the Home Counties, with London (+10.8 per cent), the East (+9.8 per cent) and the South East (+11.7 per cent) all recording strong growth.
The six remaining regions saw price ease in the month, with prices generally not that much changed from their 2007 peak.