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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Tuesday, 3 January 2017

Capital city home prices up 10.9pc in 2016 (Perth & Darwin rebound?)

Capital cities lead growth

Home prices rose by 10.9 per cent in the capital cities in 2016.

The gains were largely concentrated in Sydney (+15.5 per cent) and Melbourne (+13.7 per cent).

In Sydney home values rose by $10,000 per month in 2016.

Brisbane was a clear two-speed market and recorded gains of only +3.6 per cent overall.

Australia's regional centres recorded moderate gains of +2.8 per cent.

In Perth home values are now 7.9 per cent below their 2014 peak, and in Darwin prices are down by 5.9 per cent cumulatively.

However, CoreLogic noted that both markets appear to be "moving through their low points" with both markets reporting strong gains in the last quarter of the year of +2.8 per cent and +5.9 per cent respectively.

These figures seem to be at odds with low sentiment and high vacancy rates, but will be interesting to watch in 2017.

Regional NSW performed well in parts but there was comparatively little joy elsewhere:

"The remaining rest-of-state regions showed relatively sedate conditions, with values rising by half a per cent across regional Victoria, 1 per cent across regional Queensland and 1.1 per cent across regional South Australia.  

Regional Western Australia recorded a 7 per cent fall in house values over the year."

You can find and download CoreLogic's full report here.