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

Thursday, 1 August 2013

Wheels come off in Adelaide as house prices surge

RP Data released its full report on the housing market for July recording gains almost everywhere with the notable exception of Adelaide, which recorded another sharp drop.

Gains were strong in Sydney (+2.0%), Melbourne (+2.3%), Perth (+1.6%), Darwin (+2.0%) and Canberra (+2.5%).

However, Adelaide seems to have lost its way recording losses for the month (-1.5%) and significant losses for the quarter (-3.1%).

Regular readers will know that I've long expected Sydney and Perth to be the strong markets and Adelaide and Hobart to be the weakest. 

Melbourne, I have to openly admit, has surprised me with its remarkable resilience.

RP Data's Cameron Kusher quoted at SMH:

"Australian house prices have posted their second consecutive month of solid growth, cementing perceptions that the Sydney, Melbourne and Perth property sectors are entering a broad recovery.
Capital city dwelling values rose 1.6 per cent in July, which comes on the back of a 1.9 per cent gain in June, according to new figures from RP Data-Rismark.
"But there's quite a divergence in results between the cities. You're seeing particular strength in markets like Sydney, Melbourne and Perth," RP Data analyst Cameron Kusher said.
Melbourne dwelling values rose 2.3 per cent in July. In Sydney, they rose 2 per cent. Perth saw an increase of 1.6 per cent.
"On the other hand, markets like Brisbane and Adelaide are not really responding, which is surprising because the gap in pricing between those two markets and Sydney, Melbourne and Perth has really widened," Mr Kusher said.
Brisbane dwelling values showed virtually no growth at 0.1 per cent. A fall of 1.5 per cent was recorded in Adelaide.
Despite the divergence between the capital cities, national dwelling values have now risen 6.5 per cent since the market hit bottom in May 2012.
"I wouldn't say it's particularly strong compared to other recoveries but the trend is the important thing. You can see there's definitely a pick-up and the market is responding to the lower mortgage rates that are available," Mr Kusher said.
Values in Sydney, Perth and Canberra are now back above their previous peaks, RP Data-Rismark reports."