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.
Sunday, 19 March 2017
London affordability worsens
The cost of an average UK house has increased by 259 per cent since 2002.
Over the same time period, earnings have only increased by 68 per cent.
As a result UK house price to earnings ratios as measured by for the Office for National Statistics (ONS) are at their least attractive level ever.
Across England and Wales the average ratio is now 7.6 times earnings, up from 3.6 times in 1997.
But the real pain continues to be felt in perenially undersupplied London, where the ratio has ballooned to 12 times workplace-based earnings.
The least affordable borough was Kensington & Chelsea, where the ratio is now 38.5 times annual earnings.
Of the half dozen local authority districts with the sharpest increase, all were in the capital city.
British home ownership has now fallen from 71 per cent at the 2003 peak to below 63 per cent.