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).

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 is 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 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'.

"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 of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Wednesday, 31 August 2016

UK house prices accelerate

Record high

Pretty interesting looking at the UK property market headlines today, which include "caution", "worse on the way", "Brexit house price hit", "house prices defy uncertainty only because there are too few homes for sale", "cloudy outlook", and so on.

But then there was also "Another blow to Project FEAR as house prices rise again".

And indeed, so they did.

Nationwide reported that the average UK house price rose by +5.6 per cent year-on-year in August from a year earlier (increasing from +5.2 per cent in July).

The average price hit an all-time high of £206,145.

With the MPC cutting interest rates to 0.25 per cent after years of inaction, and the Bank of England electing to purchase another £60 billion of UK government bonds - applying further downward pressure to interest rates - the cost of fixed rate mortgages keeps on getting cheaper. 

Source: Nationwide

That said, the outlook for the UK economy is uncertain after Brexit, with several indicators suggesting a slowdown.