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, 19 July 2015
Sydney auctions rebound
Rebound in Sydney
Melbourne recorded its lowest preliminary auction clearance rate since mid-February this week according to CoreLogic-RP Data, suggesting that when all results are collected the market may be softening as new supply flows online.
On the other hand in Sydney the preliminary auction clearance rate rebounded to 82.6 per cent, up from by 7.4 per cent over the past year.
There were some extraordinary results including a suburb record sale of more than $2 million in Mascot, although the inner west continues to be the market's star performer with a 92.7 per cent clearance rate.
Brisbane has also gradually been building some solid momentum since 2011.
This week's auction clearance rate of 65.4 per cent well up on last weekend's 52.5 per cent, as well as being an improvement on the same weekend of last year when a 56.9 per cent clearance rate was recorded.
Although there has been a significantly greater volume of auctions in Sydney in July than was the case last year, stock on market is at the lowest level we've seen, while investor lending hit yet another record high in May.
Houses are therefore selling at the fastest pace on record.
The market regulator APRA is now taking concerted action to quell investor activity, with some lenders now requiring 20 per cent deposits and serviceability thresholds being raised.