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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Sunday, 19 May 2013

Low cash rate bites

Auction clearance rates are often subject to revision but in the past they have been a fairly reliable indicator as to future property price movements and the present trend is clear.

Dr. Andrew Wilson of Australian Property Monitors:

"Records continue to be broken in Sydney with yet another extraordinary auction clearance rate of 78.6% this weekend, the highest for three years.

Melbourne auction market continues to rise with a solid 73.6% clearance rate this weekend."

I'm not particularly familiar with the Melbourne market, but in Sydney where the median sales price at the weekend was $790,000 there was a series of very strong sales on the north shore, in the eastern suburbs and in the inner west.

Because of the curious short-term focus of journos the papers will report "prices flat in May" or possibly show moderate falls, but more experienced heads will look at the trend as well as other leading indicators.

It's my opinion that property prices in most capital cities will pop higher over the coming months.

Aussie stocks haven't to date at least taken off quite in the same way and to the same extent as their US counterparts, where records are being broken by the day on the markets. 

After four weeks of gains, US stocks have forged a long way into uncharted territory with the DJIA at well above 15,000. 

Despite the reports of global doom and gloom, ongoing low interest rates are pushing folk away from savings and into the risk asset classes.