Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

'Huge fan of your work. Very impressive!' - Scott Pape, The Barefoot Investor, Australia's #1 bestseller.

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Business Insider.

'I've been investing 40 years yet still learn new concepts from Pete; one of the finest young commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate - loads of good data & charts...most comprehensive analyst I follow in Oz' - Jonathan Tepper, Variant Perception, 2 x NYT bestseller.

Sunday, 26 October 2014

Sydney's inner west continues to lead the way

Sydney's property market,the inner west in particular, remains the most potent force in the country. 

There have been some thumping auction results in suburbs such as Pyrmont and Balmain in recent weeks and months.

After a correction through to 2011, parts of the lower north shore have also now really begun to hit their straps.

Via Property Update:

"Sydney’s inner west regained its usual mantle as the leading region this weekend following last weekend’s unusually low result with a strong 85.4 % clearance rate – and from the highest volume of activity with 88 sales from 103 reported results.

The south followed close behind with 84.5 percent with next the lower north at 81.8 percent, the north west and the northern beaches each with 81.3 percent, the west 77.8 percent and the south west 76.2 percent.
Standout auction sales results in the inner west at the weekend included a 3 bedroom unit at 1002/2 Mount Street Walk Pyrmont sold for $2,662,000 by Morton and Morton.
Sydney remains the "standout property market", reports APM:
"Latest Domain Group house price data from APM Pricefinder reports that the Sydney housing market clearly remains the nation’s best performer with all other capitals reporting flat or falling house price growth.
Sydney’s median house price by contrast increased strongly by 3.8 percent over the September quarter to a new record $843,994.
Sydney’s median house price is up by 16.6 percent over the past year or a rise of $120,466.
Sydney’s unit prices also increased over the September quarter according to APM Pricefinder, up by 1.6 percent to $580,861 for an increase of 11.5 percent over the year.
The median unit price in Sydney now exceeds the median house prices of Adelaide, Brisbane, Hobart and Canberra and is closing in fast on Melbourne and Perth house prices."