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, 10 August 2013

Homebuyers strike fail - Sydney breaking records with 84% clearance rate

Sydney property prices are now well above previous peaks and look set to continue setting new all-time record highs in the coming months.

I've noted consistently on this blog that the predictions of a falling market in Sydney were wide of the mark and how further cuts in the cash rate will add fuel to an already firing property market in Sydney.

And, as the cash rate was dropped to 2.50% this week, so it is, which will result in some rapid-fire tune-changing from those who stated that there is no correlation between the cost of capital and asset prices (?).

August is traditionally not the busiest month for property auctions, but Sydney continues to bust records with today's auction clearance rate of 84% now closing in on the highest level ever recorded.

In fact, there will have to be a lot of flip-flopping from many parts, which will be interesting to watch.

Expect to see further strong price gains as interest rates remain at or around record lows well beyond the new year.


Not much joy for striking homebuyers in Melbourne either where the clearance rate remained high at 76%.

Meanwhile in the UK house prices move on to all-time highs reports the Daily Telegraph, with prices rising at the fastest pace in years (not that they ever fell by much in the south-east of England, despite all the hype).