Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

'Huge fan of your work. Very impressive!' - Scott Pape, The Barefoot Investor, Australia's #1 bestseller.

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Business Insider.

'I've been investing 40 years yet still learn new concepts from Pete; one of the finest young commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate - loads of good data & charts...most comprehensive analyst I follow in Oz' - Jonathan Tepper, Variant Perception, 2 x NYT bestseller.

Wednesday, 22 March 2017

UK property prices ignore Brexit

Article 50 trigger

Not sure about anyone else, but think I've had my fill of house price indexes for a while!

Anyway, just one more for luck...

UK prices hit an all-time high in January 2017 according to the ONS, with annual gains accelerating to 6.2 per cent. 

The average UK house price rose to a record high £218,000, which is £13,000 higher than a year earlier. 

Gains are still being driven by England, where prices rose by 6.5 per cent. 

The recovery in Northern Ireland seems to have lost some grunt, although prices are 5.7 per cent higher than a year ago. 

The ONS has stopped pointing out how far prices in Ireland are below their peak, but suffice to say it's a lot. 

London prices rose by 7.3 per cent over the year to a record-blitzing £491,000.

And there were even stronger annual percentage gains in the East (9.4 per cent) and South East (8.4 per cent) of England.

Let's move on to something far more exciting tomorrow: population growth and demographic trends for Australia. 

I have an inkling that the population growth figures for Melbourne might throw a spanner or two in the works of the oversupply argument in the Victorian capital.