Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

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 better 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.

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Friday, 4 May 2012

What has happened to Aussie house prices?

From the Reserve Bank of Australia (RBA) in its February 2012 publications.

Of course, we had some very significant increases in prices in 2009 after the financial crisis brought interest rate levels down low as the graph below shows.

With rates having climbed again, there has been a general softening of prices since 2011, more marked in some cities (Brisbane, Perth) than in others (Sydney, Canberra).

Melbourne has weakened too, but this is no surprise after the phenomenal growth shown there.

Values in Sydney have refused to budge downwards, in part because they ostensibly remained flat from early 2004 until 2009 - a period when other cities were booming.

The RBA has also noted that rents have grown strongly and vacancy rates are at particularly low levels - which partly explains why prices have not fallen further than this.

Graph 3.8: Dwelling Prices