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.
Tuesday, 1 August 2017
Listings tank (Hobart boom)
Something about the so-termed "no bids on property" meme is not quite stacking up here.
SQM Research reported that listings fell by -5.1 per cent in July to 316,748.
Melbourne was one of the two capital cities leading the charge, with yet another big drop.
Listings have declined massively again by-20.5 per cent in Melbourne over the past year from 36,688 to just 29,177, which is a seriously far cry from the peak.
So someone must be bidding, 'cos all those properties aren't buying themselves.
Asking prices for Melbourne house prices rose by a thunderous +21.6 per cent over the year to August 1, reported SQM's Louis Christopher.
Sydney (-5.7 per cent), Perth (-6 per cent), Brisbane (-5.2 per cent), Canberra (-5.2 per cent), and Adelaide (-6.2 per cent) all recorded steep seasonal declines in the quieter winter month.
More first homebuyers may also be expected to enter the New South Wales and Victoria markets now that we are well into the post July 1 period heralding fresh incentives.
Listings having declined across the other capital cities in July left year-on-year stock levels relatively stable in most cases ex-Melbourne.
Except for one...step forward, Hobart!
Tight in Tassie
The Tasmanian capital is absolutely smashing it right now with listing levels dropping by an outlandish -23.3 per cent from a year ago to just 2,607.
It's getting extraordinarily tight down there on all metrics in Tassie.
Nationally listings were -9 per cent lower than a year ago.
When you consider the potential level of Chinese interest in Hobart and, well, not even 2,700 listings...fair suck of the sauce bottle mate, it could all get a bit tasty down there on the Island of Inspiration...