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

Saturday, 28 September 2013

APM: Sydney auction clearance rate strong at 81.5%

Despite the high number of listings, Australian Property Monitors reported yet another very high auction clearance rate at 81.5%.

The Sydney property frenzy looks well set to continue through 2014 as the Reserve Bank remains stuck between a rock and a hard place. 

Interest rates will not be hiked any time soon due to the lacklustre economy, yet property markets - at least in Sydney and Melbourne - are strong.


Source: RP Data

In fact, was a case of high temperatures and high prices in Sydney today as the mercury nudged 31 and several houses fetched well above reserve.

How's the below for an example in Kirribilli on the lower north shore?

Quote from a chap who attended: "On Kirribilli's busiest road and in the shadow of Greenway housing estate".

Agent estimate - $870,000.

Sold for - $1,189,000.

As you can see from the photo, there is plenty of interest in the Sydney housing market right now, and no wonder given the forecast price gains for 2014.

However, buyers need to be wary of becoming involved in irrational bidding wars and paying too much. 



Instaweather photo and sales data via Thomas Bodger - cheers Bodge!