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.
Monday, 24 August 2015
CoreLogic-RP Data reported the week's auction results here.
Melbourne recorded its weakest preliminary result since February at 73.0 per cent, which is one dynamic that is helping to pull the national average slowly downwards.
Sydney recorded a preliminary result of 79.9 per cent from 903 homes taken to auction, up from 76.1 per cent for the corresponding weekend last year.
This is some way below the incredibly high results seen in recent months, but nevertheless a very strong result - especially for the City and Inner South which saw a 90.2 per cent preliminary clearance rate recorded.
The preliminary auction clearance rate for Brisbane was 54.8 per cent from 130 auctions, up from 51.2 per cent on the corresponding weekend last year.
Overall the largest two capital city property markets of Sydney and Melbourne finally appear to be steadying a little.
However, with more monetary easing looking increasingly likely, there remains every chance that auction clearance rates could revert higher again in the two most populous cities.
According to sports betting markets you can get $11.00 on an interest rate cut at the very next Reserve Bank meeting on September 1.
With equities and commodities markets crumbling all over the place, and Aussie stocks diving to a two year low in sympathy, I wouldn't bet against it, although later in the year is still on balance more likely at this stage.