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, 19 October 2016

ONS House Price Index

UK house price index

Average house prices in the UK rose by +8.4 per cent over the year to August, according to the Office for National Statistics (ONS). 

While incontestably bullish, these figures will still comprise many sales agreed prior to the so-termed 'Brexit 'referendum (and the actual Brexit has not yet taken place anyway). 

The strength of the UK housing market is really a story of South East England's strong housing market, with the average mix-adjusted price in England as a whole up by +9.2 per cent over the year to a record £236,000.  

Average prices have recovered a bit in Northern Ireland, though remain some 45 per cent below their September 2007 peak.

Regional variances

London prices rose by another +12.1 per cent to a fresh high of £489,000.

However, the ripple effect meant that the strongest annual growth was found in London's surrounding regions of the East (+13.3 per cent) and South East (+12.2 per cent) of England. 

The worst performing city was Aberdeen where weak oil prices saw house prices fall by -8.7 per cent over the year. 

The most expensive borough in which to buy a home was Kensington & Chelsea at a cool £1.3 million, and the cheapest town...Burnley at £77,000!