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).

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 is 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 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'.

"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.

Monday, 10 August 2015

Property price growth to spread its wings

Auctions

Sydney recorded a preliminary auction clearance rate of 77.8 per cent according to CoreLogic-RP Data from 711 reported results.

The final reported result for the prior week was 76 per cent and for the prior year it was 74.7 per cent.

The city's inner west region is the gift which just keeps on giving with a smashing 93 per cent clearance rate.

The Northern Beaches also recorded an extraordinary 93 per cent result.


Less good news for outer suburbs as Commonwealth Bank announced it would curb lending on new housing estates.

Finance will be delayed until land is ready for development, placing further restrictions on Sydney's housing supply.

Banks have been hit before by falling land values in outer suburbs when the property cycle comes off.

According to Core-Logic-RP Data Sydney dwelling prices have continued to boom by 5.1 per cent over the past quarter and 18 per cent over the past year.



Brisbane recorded a preliminary result of 61.8 per cent from 144 auctions up from 57.9 per cent last week and just 33 per cent one year ago.

It has been a long steady recovery for the Brisbane market since its 2011 nadir.


The Perth market remains soft, but Adelaide, Canberra and Tasmania all recorded preliminary clearance rates of above 80 per cent, albeit from very small sample sizes.