Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 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's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Thursday, 4 January 2018

Perth turns another corner

Withdrawal

Quite a bit of talk this week about Sydney property prices correcting in 2018.

Maybe in some of the western and south-western markets it's already happened quite a bit, but I'm not all that convinced that we'll see anything too dramatic in the prime location markets.

Time will tell, I guess. 

We'll get the latest jobs vacancies figures next week, but at the last count the ABS reported vacancies in New South Wales exploding to by far the highest level ever recorded for any state or territory. 

With a Sydney unemployment rate already in a multi-year decline towards 4 per cent, it's not as though we'll be seeing too many forced sellers this year. 

Listings always decline in December, of course, but SQM Research's stock figures may just have hinted at the first signs of Sydney vendors pulling up the ladder, with listings suddenly dropping 15 per cent lower from a month earlier. 


Over the past year listings declined in Melbourne (again), a gradually improving Perth, and an incredibly tight Hobart market, where listings have nosedived 28.4 per cent lower. 


Listings were higher year-on-year in the other five capital city markets.

Melbourne's median asking price rose to above $1 million for houses, reported SQM Research.

Meanwhile there was somewhat brighter news for Perth and Darwin, with "plenty of signs of an upturn" according to SQM's Managing Director, Louis Christopher. 

The early auction results in 2018 may prove to give the best indicator of sentiment in Sydney and Melbourne for this year, so, hold tight for that.