Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, 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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Saturday, 17 November 2012

Auction clearance rates steady in the major capitals

Sydney 62% clearance and Melbourne 64%. Nothing too exciting, just further consolidation of the markets.

Auction clearance rates can be a handy leading indicator, but not too much more than that. What is certainly the case is that certain sub-markets are performing well, and others aren't.

RP Data reports that apartments in Sydney have increased in price by 4.4% in 2012, whereas houses have shown significantly less growth on average.

Not unexpectedly Melbourne's dwelling values have slipped downwards a little by similar amounts.

Interesting to note that Shane Oliver of AMP, whose views are always worthy of airtime, thinks that interest rates are still too high. Futures markets are pricing in a 2 in 3 chance of the cash rate being dropped to just 3% before Xmas which would likely give the property markets a real leg-up.