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 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.

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."