Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, 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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Wednesday, 1 February 2017

Home values up again in January, but...

City home values up

CoreLogic released its monthly home values report which showed a gain of 0.7 per cent in the month for the combined capital cities index, which was also 10.7 per cent higher over the year. 

Sydney and Hobart recorded the strongest quarterly gains, with Sydney recording by far the strongest result over the year. 

Sydney unit values spiked by 3 per cent in January according to the report. 

Source: CoreLogic

All capital cities recorded increases on this index over the quarter, including resources capitals Perth and Darwin, leading CoreLogic to suggest a bottoming of the downturn for these markets. 

Rest of state home values were up by a modest 2.8 per cent over the year to January.

Twitchy valuers

Perhaps the most interesting section of the report noted that more than 40 per cent of off-the-plan settlement valuations are coming in under contract price in the Melbourne, Brisbane, and Perth unit sectors. 

Even if the valuation shortfalls are relatively small, this likely signals the death knell for the apartment construction boom.