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Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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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.
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"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'.
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Sunday, 3 May 2015
RP Data on Sydney auctions
Auction clearances third strongest on record
CoreLogic-RP Data put its preliminary auction clearance rate for Sydney at 87.3 percent from a total of 839 auctions.
This compares to just 71.4 per cent from the comparative weekend in the prior year.
This leads the data to a total of 13 consecutive weeks that the auction clearance rate in Sydney has hit at above 80 per cent.
More pertinently, this represents the third week in a row that the preliminary clearance rate has exceeded 87 per cent.
RP Data notes that one third of Sydney's sub-regions recorded a preliminary clearance rate in excess of 90 per cent.
A strong preliminary result was also recorded for Melbourne of above 81 percent from 1110 auctions.
The combined capital city average preliminary clearance rate of 79 per cent is the third strongest on record, reports RP Data.
Low interest rates and investor activity are evidently making for a heady combination.
Domain Group reported that Sydney's lower north shore, which typically sees many prestige properties sold, recorded a 95 per cent clearance rate.
Not to be outdone the inner west hit 97 per cent this weekend.