Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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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 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.
Sunday, 28 May 2017
Another bumper weekend
Sydney and Melbourne motor on
It was another big weekend for Sydney auctions, with a preliminary clearance rate of 76 per cent reported by both Domain and CoreLogic.
Domain had reported 548 auction results, but quite a large number remained unreported.
The median price of property sold at auction was $1,290,000.
The median auction price for houses ($1,551,000) was 6 per cent or $86,000 higher than for the corresponding week last year ($1,465,000).
Meanwhile, the median auction price for units ($885,000) was 3 per cent or $27,500 higher than the same week in the prior year.
The preliminary clearance rate in Melbourne was a notch stronger at 77 per cent.
The final clearance rates will likely be closer to 70 per cent as the results dribble in.
The Vivid Festival is back in town in Sydney this week.
There's huge fortnight of news ahead, culminating in the Australian National Accounts for the March quarter on June 7.
Australia is all set to break Holland's record for the longest uninterrupted spell without a technical recession at 26 years or 103 consecutive quarters.