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, 14 September 2015
APRA measures to hit lower income suburbs
CoreLogic-RP Data reported a preliminary auction clearance rate of 75.1 per cent for Sydney on Saturday with more than 1,000 auctions held over the week.
APRA's cooling measures will hit lower socio-demographic areas first as lower income earners struggle with the deposit hurdle.
The first region to go in Sydney will be the south west, and to a lesser extent the west.
On the other hand the traditionally wealthier suburbs of the lower north shore, the eastern suburbs, and the inner west are poised to hold up much better.
Unsurprisingly further research from the Domain Group showed that auction clearance rates held up to track at exceptionally high levels in the inner west (82.8 per cent), the lower north shore (82.3 per cent), the northern beaches (79.6 per cent) and the city & east region (77.9 per cent).
On the other hand over the past two weeks auction clearance rates have tanked in the west (from 76.9 per cent to just 66.3 per cent), and particularly in the south west (from 69.8 per cent to just 54.9 per cent).
Detailed article from Domain can be found here.