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.

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

Monday, 20 May 2013

RP Data Weekly Report

A large amount of rapid tune-changing going on from previously bearish property market commentators as Sydney's auction markets approach record clearance rates. 


Other cities are some way behind but the trend is clearly increasing. According to Westpac, the recovery will be uneven (odd observation - aren't they always?) but Sydney and Perth will lead the way (no disagreements there). Price gains may not be recorded in May but they're in the post: 

Westpac forecasts gains across the board, but mainly in Sydney, Perth and Brisbane, not so much for Adelaide and Melbourne:


Source: Westpac

Mortgage index continues to increase:


Fastest selling property type, unsurprisingly, continues to be apartments in Sydney at only 32 days on the market on average:

Source: RP Data

I haven't uploaded all of Westpac's charts, but they basically say the same: finance approvals up, auction clearance rates up, prices heading up...

Ahh, Mondays. Not feeling it at all today...want to snooze...

***
Today, the young country of Timor-Leste celebrates its 11th Anniversary of the Restoration of Independence.

Timor-Leste was colonised by Portugal in the 16th century, and was known as Portuguese Timor until Portugal's decolonisation of the country. 

In late 1975, Timor-Leste declared its ‘Proclamation of Independence’, but within a few weeks the country was invaded and occupied by the Indonesian military and was declared Indonesia's 27th province the following year. 

In 1999, following the UN-sponsored act of self-determination, Indonesia relinquished control of the territory and Timor-Leste became the first new sovereign state of the 21st century on May 20, 2002.

So, to  all Timorese friends: "Viva Timor-Leste!"