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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Friday, 13 September 2013

APM: Sydney property "buyer bonanza" to continue?

From Australian Property Monitors here.

Note some sectors of the market achieving 100% auction clearance rates last weekend - it's a property boom in the harbour city.

"This weekend Sydney will host the second highest number of auctions of the year. With the distractions of the federal election now a distant memory, 637 properties are set to go under the hammer. This is just shy of the 682 auctions conducted on March 23rd which is the high water mark for the year so far.
High listings numbers this weekend will present the Sydney’s early spring selling season with a stern test although recent buyer activity has continued at record levels.
Eight out of the past nine weekends in Sydney have recorded a clearance rate above 80 percent with the exception the 79 percent recorded on the 24th of August.
Last weekend Sydney reported its highest clearance rate of the year at 87.6 percent. Four of Sydney’s suburban regions recorded 100 percent clearance rates – the central coast, the city and east, the north west and the west.
Sydney’s inner west  is again the most popular region for auctions this weekend with 100 scheduled followed by the south with 87, the upper north shore with 71 and the city and east region with 63 properties due to go under the hammer.
Other recent statistics also point to the buyer bonanza currently under way in the Sydney housing market. Latest ABS July home loan data reported that the number of loans approved for the purchase of owner-occupied homes in New South Wales was 9.2 percent higher over the first 7 months of this year compared to the same period a year ago.
Investor activity remains a key driver of the Sydney housing market with the ABS reporting that 51 percent of lending for home purchases in New South Wales over July was for investors.
Investor activity in the New South Wales housing market was 33.2 percent higher over the first 7 months of this year compared to the same period last year.
A big weekend for auctions in Sydney this weekend -the question is can the remarkable seemingly unquenchable buyer thirst for property continue?"