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, 14 December 2016

UK house price growth ripples out

Unemployment remains at 11 year low

UK unemployment fell again by 16,000 to 1.62 million, while the unemployment rate held steady at 4.8 per cent in the three months to October, the best in 11 years. 

There has been a huge amount of angst about inflation rising to 1.2 per cent post-Brexit in Britain, even thought this is below target, with the lower pound expected to see more price rises down the track. 

Although total employment was down a touch to 31.76 million, wages growth rose from 2.4 per cent to 2.6 per cent. 

The average UK house price was flat in October at £217,000. 

Average house prices in England were up by +7.4 per cent over the year to £233,000, but there hasn't been much joy elsewhere. 

Around the traps, house prices have generally recovered well in most regions over the past year, with price growth rippling out from central London to the Home Counties. 

Although London prices are +7.7 per cent higher than a year ago, this obscures that prices in prime central London in boroughs such as Kensington & Chelsea are falling with growth spreading out into the less fashionable boroughs such as Barking and Dagenham, and out to places like Luton, Slough, and Basildon in Essex. 

The stamp duty experiment has been an unmitigated disaster, obliterating sales volumes and categorically failing to generate additional revenue as a result, so reforms should be implemented in due course to reinvigorate the home sales market and labour force mobility.