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

Monday, 23 September 2013

APM: 95% clearance rates in Sydney's "hottest ever" spring selling season

Australian Property Monitors reports on the weekend's auctions. Note the results in the inner west: almost every auctioned property being sold.

"The Sydney weekend home auction market continues to record extraordinary results as buyer enthusiasm for property currently seems almost limitless.

This weekend Sydney recorded another exceptional auction clearance rate above 80 percent with the 86 percent result bringing the average rate over the past month to an unparalleled 85.1 percent. Clearance rates in Sydney’s weekend auction market are now approaching the record levels reported during the great housing market boom of autumn 2002.
With just one weekend remaining in September the Sydney auction market is set to record the highest ever auction clearance rate for that month. This result will be achieved despite the last two weekends each hosting the second and third highest number of auctions for any weekend so far this year.
Unsurprisingly this weekend produced some remarkable auction results in Sydney’s suburban regions. The inner west was a standout despite high auction numbers recording a stunning clearance rate of 95 percent. Sydney’s west also produced a 95 percent clearance rate at the weekend although from lower auction numbers.
Other extraordinary regional results were the upper north shore with 91 percent, Canterbury Bankstown and Sydney’s south each recording auction clearance rates of 84 percent and the north west with an 81 percent rate.
Another weekend and another extraordinary result for Sydney’s weekend auction market in what is shaping up to be the hottest spring selling season ever recorded in Sydney."