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 Hmmm...one of the world's most popular & widely-read financial publications.

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

Wednesday, 8 October 2014

Sydney auctions - inner west still hitting the mark

Sydney's inner western suburbs continues to hit boom-time levels.

This is all great for those of us who own properties in the inner west, but we would seriously recommend caution about trying to participate in that market right now - some huge prices are being paid by buyers who have already missed the bulk of the boom phase for this cycle.

The lower north shore and also the eastern suburbs are recording high clearance rates.

Not much activity in Canterbury-Bankstown this weekend, but we see that market as a likely out-performer in the year ahead. 

From APM's market wrap:

"Sydney produced yet another exceptionally strong home auction clearance rate at the weekend despite relatively low listing numbers due to the distractions of the long weekend holiday break.

The 83 percent clearance rate result now brings to eight the number of weekend results above 80 percent recorded by the Sydney market for what has been a remarkably consistent and unprecedented start to the spring selling season.  
Sydney’s four-weekend average clearance rate now stands at 83.0 percent compared to 82.5 percent over the previous four-weekend period.
The inner west again reported the highest clearance rate of all the suburban regions at the weekend with a 90.9 percent result from 22 reported auctions. 
This was closely followed by the lower north shore with a clearance rate of 87.5 percent, the city and east with 85.0 percent, the south and the northern beaches each with 82.4 percent, the west 82.4 percent, and the south west with a clearance rate of 80.0 percent.
The Reserve Bank meets this week for its regular monthly interest rate decision. 
With recent economic indicators remaining volatile and mixed with an improving jobs market, weakening sharemarket and sharply falling dollar, rates are likely to remain at the current level for the 14th consecutive month – a result which will help keep the Sydney market bubbling along over spring."