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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Tuesday, 17 May 2016
Croydon the UK's #1 property hotspot
UK prices set to stall
UK home vendors didn't get the memo, it seems.
UK asking prices rose a little in May, up by +0.4 per cent to an all-time high of £308,151, according to Rightmove.
However, following a big surge in buy-to-let lending through March it seems highly likely that the market will now soften post-crackdown.
Although it might be expected that in time rents could rise as the rental market tightens, in the short term at least there may be a glut of rental properties thanks to the "rush to let" witnessed in early 2016.
London prices have continued to diverge from the rest of the UK over the past few years.
Over the past year the strongest price asking gains have been seen in London (+10.8 per cent), and the immediately surrounding East (+10.1 per cent) and South East regions.
Following changes to stamp duty charges, the lower end of the market is now generally expected to do better than the premium end.
Croydon has become the UK's premier first-time buyer hostpot, with prices up by 18.6 per cent over the year.
This was predicted on this blog in January 2014, of course.
You can find Rightmove's detailed monthly report here.