Pete Wargent blogspot
Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).
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 finest 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.
Thursday, 30 January 2014
Best new home sales in 5 years
Not much fun in the share markets at present with the markets set to record yet another day in the red, and quite sharply so.
Strange as one would have thought that markets would have fully priced in a 'taper' in the Fed Reserve's stimulus, but seemingly this was not the case. Such is the fickle nature of short-term market movements.
On a brighter note, while some will try to portray the latest Housing Industry Association release in a negative light, the blunt truth is that new home sales recorded their first annual increase in 5 years, and more than that new home sales have come roaring back from very low levels in the middle of 2012.
Meanwhile, Sydney property markets are back in the headlines, with dwelling prices having picked up sharply through 2013.
Australian Property Monitors announced today that median dwelling prices in the harbour city increased by some 6% in the last quarter of the year. The Sydney market remains exceptionally tight with very little in the way of stock on the market.
Auctions recommencing forthwith...
One final note: the HIA highlights that in the last quarter of 2013, detached house sales in South Australia increased by some 50.9%. Adelaide turning the corner at long last?