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 finest 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, 20 January 2016
Time to buy a dwelling index
Westpac consumer sentiment declined by 3.5 per cent in January to sit back close to its long run average, though it remains 4.3 per cent higher than one year ago.
There was clearly a slowing in national housing market sentiment in the second half of 2015, but the ‘time to buy a dwelling’ index came surging back from 99.2 in December to 113.0 in January.
That is the highest reading for this index since May last year, to be now just 1.4 per cent below its level for January 2015 (when the Sydney boom market was in full swing).
Given the huge scale of the jump, Westpac noted: "We can only conclude that this print may be signalling improving optimism in the housing market."
Most of the improvement in the national index was driven by a sharp improvement in New South Wales.
The improvement in house price expectations jumped even more dramatically by 21.1 per cent in from 103.7 in December to 125.8 in January, this read representing the best result since September 2015.
The acid test for the Melbourne and Sydney markets will be when the auction markets crank up again in due course.