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.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Monday, 27 May 2013

Sydney's inner west sizzles

A lot of property posts today (stocks are off around 0.75% and set for a third day of losses). Reports APM here:

"Sydney’s strong autumn weekend auction performance continued at the weekend despite higher numbers of properties on offer for sale. The weekend auction clearance rate of 75.5 percent, although lower than last weekend’s three-year high of 78.6 percent, was nonetheless another exceptional result from a market that shows no sign of slowing down.
Sydney has now recorded seven consecutive weekends of clearance rates above 70 percent with four of those results above 75 percent. The market continues to track 20 percent higher than the same time last year although listing numbers remain at around last year’s levels.
Sydney’s 419 auctions at the weekend was solidly higher than a last week’s 378, although lower than the 442 auctioned over the same weekend last year.
Sydney’s inner west produced an exceptional result at the weekend with an auction clearance rate of 87 percent at an average sale price of $1,129,606. This result was achieved from 58 listings – the highest of all the suburban regions.  

The city and east also produced a strong result on the weekend from high listing numbers with a clearance rate of 80 percent from 45 auctions at an average sale price of $1,192,670."