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'.

Sunday, 2 April 2017

UK house prices soften

Nationwide index softens

With all the headlines around you'd be forgiven for thinking that UK house prices are being belted by Brexit. 

Not quite, but the market is rising at a slower pace, up by 3.5 per cent over the year to notch a new high of £207,308 (with a moderate downtick recorded in seasonally adjusted terms). 

Annual growth was strongest in England (4.7 per cent), followed by Northern Ireland (3.8 per cent), then Scotland (2.9 per cent), and then Wales (1.2 per cent). 

House price growth is still stronger in the south of England than the north, and home ownership rates in the 25 to 34 age bracket have declined considerably to 56 per cent (although the strongest growth in the number of renters was in the 45 to 54 and 55 to 64 age brackets). 

I believe we are seeing similar trends in Australia too, albeit with more individuals opting to become landlords. 

Over the year London prices were 5 per cent higher at £478,782, to be 60 per cent higher than they were before the downturn in 2007.

However the fastest growing region was the Outer South East, which recorded an annual rise of 6.4 per cent.

Three regions have yet to recover to their 2007 levels: North, Yorkshire & Humberside, and the North West.