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.

Saturday, 17 December 2016

Sydney median +4.9pc in spring quarter to record $1.1m

Sydney auctions limped over the line in the final auction weekend of the year, recording a considerably softer preliminary clearance rate of 71 per cent. 

Being the final auction week of the year - indeed the last until the week of February 7 - there were fewer auctions in the top quintile this week, reflected in a reduced median auction price of $1,055,000. 

This is much lower than the record high which was experienced only six weeks ago.

Overall, though, it was a spectacular spring with consistently high auction clearance rates in Sydney.

Domain reported that the median house price in Sydney boomed by +4.9 per cent in the November quarter to a new high of $1,106,415.

Over the year, Sydney's median house price increased by +7.4 per cent.

Unit prices in Sydney also experienced a strong quarter, rising by +3.6 per cent to a record $712,002.

All quiet on the auction front for the next seven weeks. 

Domain predicts further house price growth in the largest capital cities in 2017.