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'.

Tuesday, 19 January 2016

Rightmove sees more UK house price gains

UK housing market activity heating up

Rightmove's UK House Price Index, which isn't seasonally adjusted, showed a surprise +0.5 per cent (+£1,509) gain in January, the second strongest Christmas/New Year result since 2007.

Moreover the first snapshot for 2016 showed Rightmove visits up by 21 per cent year-on-year for the first working week of the year.

London asking prices at the top end have been crimped significantly by stamp duty changes and possible moves to tax foreign investment, particularly in luxury property. 

As such, London asking prices declined by -0.9 per cent in December, driven by a sharp fall in the prime borough of Kensington & Chelsea (-9.7 per cent to £2,055,666).


London price growth has shifted to the cheaper and outer boroughs (+11.3 per cent over the year), while inner London prices appear almost certain to stall (+4.3 per cent over the year following a sharp -2.1 per cent fall in December).

There is little question that stamp duty changes are pushing buyers to seek more value for their money, leading to a spike in activity in south-east London, for example. 

Capital growth has also now rippled outwards from  the capital, with the strongest annual growth now found in the East of England (+9.8 per cent), Greater London (+7.8 per cent), and the South East  of England (+7.3 per cent).


Rightmove's data points to an "active year ahead", but watch out for the distorting impacts of the stamp duty levy and changes to interest deductibility.

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Following on from yesterday's blog post on Townsville jobs and property, the AFR reports that Townsville property prices could be hit hard by further job losses, with rents falling and house prices already down by 7 per cent over the past 5 years after recording further declines in 2015.

Townsville was also hit by the collapse of Storm Financial during the global financial crisis.