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.

Tuesday, 24 March 2015

Auction market booming

Auction records

CoreLogic RP-Data's latest figures show that auctions are booming.

The combined capital cities clearance rate, although a widely criticised metric, has clearances in the stratosphere at 77.4 percent.

This is largely driven by Sydney which recorded another massive 84.7 percent result at the weekend.

This coming weekend Sydney may well play host its biggest auction weekend ever ahead of the Easter break, with perhaps more than 1,100 properties to go under the hammer.

The CoreLogic RP Data Mortgage Index looks set to push record highs.

Mortgage market activity looks to be driven by Sydney, Melbourne and Brisbane.

And dwelling prices are rising accordingly.