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.

Sunday, 27 November 2016

North shore market sizzling

Sydney auction market strong

Sydney recorded a preliminary auction clearance rate of 82 per cent (CoreLogic) on Super Saturday, with Domain reporting a figure of 79 percent. 

The median auction price, admittedly a crude market measure if ever there was one, came in at $1,270,000.

Smoothing the median auction prices of a 4pMA basis shows that over the past two months median auction prices have been tracking about 10 per cent or so higher than a year ago. 

However, auctions only represent a part of the market, and in so,e secondary areas auctions have become less common as sentiment has tailed off, resulting in considerably lower volumes overall than a year ago.

This is consistent with moderate year-on-year median price growth for Sydney as a whole, but with a number of prime location areas still firing, in particular on the lower north shore, northern beaches, and in parts of the eastern suburbs.

An oversized 2 bedroom, 1 bathroom unit on Crows Nest Road close to Waverton station sold for a thunderous $1.35 million at auction on Saturday.

At the beginning of this cycle in 2012 roughly equivalent units sold for just under $800,000.