Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, 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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Saturday, 19 November 2016

Sydney auctions solid ahead of Super Saturday

2016 drawing to a close

Another solid preliminary auction clearance rate of 79.5 per cent for Sydney this weekend.

There were some big numbers posted in the eastern suburbs, and Bondi and Paddington in particular.

Around the traps the suburbs of Mosman and Strathfield accounted for most of the big ticket sales. 

The median auction price was $1,221,500. 

This was some way down from the record preliminary result of $1,337,000 seen a fortnight ago, but then this was expected given that there were more than 750 homes going under the hammer this weekend.

The median auction price is a crude and volatile measure at the best of times.

However, smoothing the figures on a monthly basis reveals a more consistent picture, with prices tracking fairly consistently at about 10 to 12 per cent higher than a year ago. 

Next weekend will provide a stuff test for the Sydney market as the spring auction Super Saturday arrives before silly season and the big wind down to Christmas.

And that will soon be another year gone! Hectic.