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.
Monday, 8 May 2017
I recently looked here at how Queensland's mortgage and transfers market has ground its way through a long and slow recovery since widespread flooding in the state in 2011.
I don't often take a look at auction clearance rates in Brisbane.
Since so few properties go to auction, the results are very thin, can be volatile, and don't necessarily provide a great indicator as to the health or otherwise of the housing market.
Over a similar timeline since 2011 the trend here has also been steadily upwards, but with a notable lull at around the time APRA implemented its first round of macroprudential measures.
This week Brisbane posted a preliminary clearance rate of 60.8 per cent, well up from 41.2 per cent on the same weekend last year, though volumes were considerably lower reflecting a dearth of quality stock on the market.
Brisbane's inner city apartment market, not well captured in these numbers, is struggling.
Sydney recorded a preliminary clearance rate of 77.8 per cent - up from 71.8 per cent last year - and similar numbers were seen in Melbourne.
Volumes were much lower in all three of the most populous capitals.