Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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 Hmmm, one of the world's most popular & widely-read financial publications.

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

Sunday, 21 August 2016

Sydney auctions go ape

Boom is back

If you've ever read my pieces on the historical relationship between interest rate cuts and Sydney's property market, particularly investor activity, you may not need to read this post as you probably already know what's coming. 

For the record, Sydney recorded a preliminary auction clearance rate of a sensational 86.1 per cent according to CoreLogic. 

Even allowing for potential revisions, Sydney hasn't seen a clearance rate like that in well over a year

In fact, not since the first week of June 2015, when the boom market was still in full swing, has a higher clearance rate been seen.

Meanwhile Domain reported that its Sydney result was the strongest ever for an August weekend, suggesting that the harbour city would see its "strongest ever" start to a spring season.

Preliminary auction clearance rates were also higher from the same weekend last year in Melbourne and Brisbane, albeit on somewhat lower volumes. 

Although clearances were a little lower than last year in Adelaide, the weighted average preliminary result across the capital cities came in at a seriously strong 76.3 per cent (up from 72.9 per cent on the same weekend last year).

Generally speaking auction volumes are lower than they were in 2015, but crept higher from last weekend.

With stock levels remaining quite contained, Sydney's top sale was a 4 bedroom house in Strathfield which commanded $6.8 million.

Sydney's boom is back. Over to APRA.