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.

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Tuesday, 6 August 2013

Sydney listings plunge

SQM's research shows that online property listings are declining across most of Australia, but it's Sydney where the y/y change is most pronounced with a very significant drop (-17.0%).

As I've been predicting on this blog for the last couple of years, there is a severe amount of pressure on Sydney's inner-ring suburbs - now largely due to investor activity - which is applying upwards pressure to real estate prices.


Source: SQM

Reports Property Observer:

"It's pretty clear that the Sydney trend is a far more pronounced than the national trend," SQM's Louis Christopher told Property Observer.

The biggest decrease in listings in Sydney was in the CBD where they fell 28.4% over the year. The lower north shore fell 26.2%, the northern beaches fell 26.4% and the eastern suburbs fell 25.3%.

Christopher says these decreases potentially point to a pick-up in the Australian housing market though it still believes the level of stock is elevated at a national level.

“It is becoming more and more evident that the housing market is beginning to pick up in this capital city [Sydney] and SQM Research believes that this will continue into the Spring selling season,” Christopher says.

Sydney is clearly experiencing a shortage of listings in the market, which is putting upward pressure on real estate prices. This is particularly the case in the inner ring where listings have fallen by approximately 25% over the past 12 months.”