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 of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Thursday, 1 October 2015

Residex: Sydney house prices +21.7% y/y

Residex released its excellent property market update which showed Sydney house prices soaring by another $20,000 in August to be +7.9 per cent higher over the quarter to August and a massive +21.7 per cent higher over year.

Unit price growth in the harbour city was somewhat slower at +14.3 per cent over the year (that said, CoreLogic-RP Data's index, which was released today, showed that Sydney units were the better performing property type over the past quarter with +5.6 per cent growth, perhaps due to affordability constraints).

Sydney's annal house value growth rate has reached an extraodinarily high level.

Sydney house prices have by far and away outpaced the rest of the country through this cycle.

After a relatively dry run since 2007 Brisbane is now picking up with house prices now +6.8 per cent higher than one year ago.

Residex provided some interesting insights into long run dwelling prices, noting that sustained downturns have been rare, and for long term holders historically downturns have not mattered since prices have always increased (this echoes what I found with the long run London price data here).

Check out the in-depth Residex analysis here