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).

5 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 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'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Thursday, 2 January 2014

Sydney property is back in the headlines

It's been a quiet decade in truth for Sydney's property markets, but now they are headline news once again as both property prices and temperatures soar.

The reasons are obvious enough - low interest rates, an astonishing 5,000 people per month pouring into the city and an undersupply of quality dwellings in desirable areas.

Reports Sydney Morning Herald - there is "an unprecedented shortage of housing".

I'm not so sure about that, but certainly there is an undersupply of quality stock which people actually want to live in.

"Capital city house prices rose by almost 10 per cent last year, the highest yearly growth in four years, as record low interest rates increased buyers’ appetites for residential property.

House prices rose a combined 1.4 per cent last month, led by a 4.3 per cent increase in Hobart and a 2.2 per cent lift in Melbourne, RP Data-Rismark monthly home value index released on Thursday showed.

Sydney recorded the strongest yearly growth across the capital cities, with an annual rate of 14.5 per cent in 2013. Perth, the capital city of mining powerhouse Western Australia, saw prices jump by 9.9 per cent, while Melbourne prices increased by 8.5 per cent.

"Low interest rates and improved housing affordability have released much of the pent-up buyer demand built up over recent years, with rising prices reinstating the incentive to buy now rather than later," ANZ analysts Paul Braddick and Dylan Eades said.

"Population gains continue to outstrip new home supply and an unprecedented shortage of housing will maintain upward pressure on prices, rents and building activity."

Sydney by far and away the strongest market. 

Adelaide and Hobart the weakest (although Hobart seems to be on the rebound, as noted above).

RP data housing statistics