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, 7 March 2017
Stock levels still down over the year
Listings picking up
Stock listings picked up strongly in February, particularly in Canberra, Sydney, and Melbourne, following the usual January lull, according to SQM Research.
Despite this - and before we all get too excited - listings nationally were still 5.1 per cent lower than a year ago at 336,604, down from 354,633 in February 2016.
Indeed, listings remain lower year-on-year in Hobart (-13.4 per cent), Melbourne (-9.7 per cent), Adelaide (-4.8 per cent), and Sydney (-0.7 per cent).
Looking at the absolute number of listings by capital city, we can see that listings in Sydney remain low, with the Greater Sydney population now surpassing 5 million.
In many respects Hobart is the tightest market right now, and this is being reflected in sharply rising prices in the Tasmanian capital after a decade of stagnation.
While some indices now show only a moderate deterioration in prices in Perth and Darwin, SQM's Asking Price Index still has prices distinctly lower year-on-year in both of these cities.
In Darwin's case stock on market seems to have stabilised, but it still feels as though Perth has a tough period to work through on many metrics.
Elsewhere there has been a veritable tsunami of media opinion and suggestions about 'the housing market' and what should be done, ranging from the quite sensible to the bizarre.