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.
Wednesday, 13 January 2016
Listings in seasonal decline
SQM Research released its December listings data which showed total listings declining in a seasonal fashion by -5.2 per cent in the month to be 0.4 per cent lower than one year ago.
The decline was primarily driven by big drops in listings in Sydney (-17.7 per cent) and Melbourne (-16.6 per cent) respectively.
Over the past year property markets in Melbourne (-7.2 per cent) and Hobart (-7.8 per cent) have each tightened substantially, suggesting that those markets are strengthening.
On the other hand listings are up in Canberra (+14.2 per cent), Perth (+6.8 per cent) and Darwin (+11.6 per cent), although the increase for Perth has not been terribly dramatic on this evidence.
After three extraodinarily strong years it is not surprise to note that Sydney has seen its listing numbers increase by +16.2 per cent over the past year.
But even then, the increase in Sydney stock listings to be seen in context.
Sydney has 32 per cent fewer listings than Melbourne, and its stock on market is lower than even Brisbane or Perth where the population is comparatively much smaller.
That said, the Sydney market certainly does look to be steadying, with asking prices for houses at $1,139,000 up by +7.8 per cent over the year, and asking prices for units at $640,100 up by +11.5 per cent over the year.