Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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 Hmmm, one of the world's most popular & widely-read financial publications.

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

Saturday, 26 November 2016

London prices up 86pc from low

Capital performance

According to Hometrack city level UK house price growth continued to track at +8.4 per cent in the year to October 2016. 

The 20 cities index is thus outperforming Britain as a whole.

In London house prices were up by +9.1 per cent over the year to October to be a thunderous +86 per cent up from their post-financial crisis nadir.

London is now a two-speed market with premium properties failing to sell in the face of punitive stamp duties and prices in prime central London accordingly now flat at best.

However, outer London and properties in the lower price percentiles have seemingly remained fairly robust to date. 

In adjacent Cambridge - the biotech capital and probably my favourite UK city - prices are up by 84 per cent. 

I spent some time in Cambridge over the summer and the place was positively buzzing, so I wasn't at all surprised to see the famous old University city topping Grant Thornton's Vibrant Economy Index for 2016 as the best place to live and work. 

Oxford was listed in second spot, and house price growth since the financial crisis has mirrored these rankings. 

Price growth has clearly radiated out from the capital to Oxford and Cambridge, but with the honourable exception of Bristol few cities have seen any meaningful real price growth over the past decade, despite recovering from their lows. 

The worst performing city in the index over the past year was Aberdeen, where house prices followed oil prices down to drop by -8.1 per cent.

Hometrack's full report can be found and downloaded here.