Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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'.

Saturday, 2 May 2015

Sydney moves to boom

Hectic

I was out and about at property viewings this morning in Sydney.

It is hard to remember ever seeing such a volume of people trampling through properties in one day.

Moreover, the key intangible which economists and property writers miss when browsing through the data has become increasingly evident over the past few weeks - a growing sense of urgency.

And what of interest rates?

Futures markets have been pricing a high percentage chance of an interest rate cut on Tuesday, at more than 70 per cent.


However, this level of property market activity in Sydney must at least give the Reserve pause for thought.

Domain Group reported its preliminary auction clearance rate today as 89.1 per cent, which is the highest figure on record.

What another rate cut would do to the Sydney property market one can only imagine.

It is something of a dilemma, however. 

CoreLogic-RP Data's figures for the month of April 2015 released this week showed that dwelling price growth over the past year has been below the rate of inflation in Adelaide, Perth, Hobart, Canberra, Darwin and across regional Australia, so the notion of a "hot property market" is hardly universal.

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A huge fortnight of economic data lies ahead, starting immediately on Monday morning.

Stay tuned!