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 finest 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, 19 October 2016

ONS House Price Index

UK house price index

Average house prices in the UK rose by +8.4 per cent over the year to August, according to the Office for National Statistics (ONS). 

While incontestably bullish, these figures will still comprise many sales agreed prior to the so-termed 'Brexit 'referendum (and the actual Brexit has not yet taken place anyway). 

The strength of the UK housing market is really a story of South East England's strong housing market, with the average mix-adjusted price in England as a whole up by +9.2 per cent over the year to a record £236,000.  

Average prices have recovered a bit in Northern Ireland, though remain some 45 per cent below their September 2007 peak.

Regional variances

London prices rose by another +12.1 per cent to a fresh high of £489,000.

However, the ripple effect meant that the strongest annual growth was found in London's surrounding regions of the East (+13.3 per cent) and South East (+12.2 per cent) of England. 

The worst performing city was Aberdeen where weak oil prices saw house prices fall by -8.7 per cent over the year. 

The most expensive borough in which to buy a home was Kensington & Chelsea at a cool £1.3 million, and the cheapest town...Burnley at £77,000!