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, 25 October 2016
London market steadies
Price growth slowing
House price growth across the UK 20 Cities Index was +8.5 per cent over the year to September 2016, according to HomeTrack, with growth slower than it has been, but comfortably faster than the UK national average.
Price growth across the main cities continues to run at more than three times the rate of growth in earnings, largely thanks to low mortgage rates.
London's quarterly house price index growth slowed to +0.9 per cent in the third quarter of the calendar year, to a current price of £480,500.
Annual price in the capital city was down to +10 per cent, and is expected to ease to around +5 per cent by the end of the year.
I was out and about looking at some stock around London yesterday.
Activity levels are definitely well down, but that said with the pound sterling having declined sharply since the EU referendum, enquiries from non-resident buyers have jumped, particularly in the sub-£1 million price bracket.
The strongest quarterly price growth was seen in Cambridge (+3 per cent), with annual price growth in Cambridge now a steadier +8 per cent, following some blistering gains.
A number of regional cities have improved markedly from a low base, after a very poor run since the financial crisis.
The worst performing UK city market has been oil-exposed Aberdeen where prices have dropped by a punishing -9.5 per cent over the year to September, to an average of £181,300.