Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

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.

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Wednesday, 4 November 2015

SQM reports higher listings

Listings up

SQM Research reported its latest listing numbers which recorded the usual spring surge in October to sit broadly around the same levels as last year.

What is clear is that more listings are now coming on to the market in Sydney, with total listings now 11.6 per cent higher than one year ago in the harbour city (although still stting at around only 72 per cent the number of listings in Melbourne).

Looking at the monthly and particularly the annual figures, the "most improved" markets appear to be Melbourne (-9.6 per cent) and Hobart (-8.1 per cent), while Darwin (+14.2 per cent) and Perth (+9.8 per cent) look weak. 

Brisbane, Adelaide and Canberra have seen relatively little change.  

Sydney surge

The most notable trend here was clearly the rise in the number of Sydney listings, which can hardly be a surprise after the remarkable run that the Sydney market has had.

The latest Residex figures showed that Sydney's median house price romped an extraordinary 22 per cent higher over the year to Septmber to $1,047,500, while SQM now records the median asking price for houses at $1,143,000. 

Sydney's median unit price also jumped according to Residex by another 1.7 per cent in September to $677,000 for a 15.6 per cent annual gain. 

More lately CoreLogic-RP Data's October figures showed Sydney's median home value increasing at a slower pace in October to be 77 per cent higher than in 2009.

In the context of these numbers a surge in new listings was all but inevitable. 

The Sydney market will muddle through until Christmas, sure enough. 

How well the market performs next year will partly depend on the extent to which banks can push their owner-occupier loan books, with investor loans already having been curbed.