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).

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 is 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 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'.

"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 of the world's most popular & widely-read financial publications.

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

Sunday, 20 July 2014

Sydney auction clearance rate 77.3%

It may be winter but the cooler winter months haven't really cooled the Sydney property market.

Extraordinary levels of investor activity mean that Sydney dwelling prices remain set to continue rising laying to rest more than a few misguided articles about prices falling in May.

Reports Australian Property Monitors:

"Sydney’s home auction market consolidated last week’s revival by recording its second consecutive weekend clearance rate above 77 percent. 

This weekend’s 77.3 percent rate was similar to last weekend’s 77.7 percent rate that followed a month of results that had indicated a falling trend in buyer activity.

The northern beaches recorded another stunning clearance rate at the weekend as the strong revival in buyer activity in that region continues. 

It clearly led all the regions with a 94.7 percent result and was followed by the inner west with 87.8 percent, the city and east 85.7 percent the south with 84.1 percent and the lower north with 81.5 percent.

The Sydney auction market continued its revival at the weekend reporting back-to-back 77 percent plus clearance rates for first time since May. This indicates that there is plenty of life left in the mid-winter market that clearly remains positive for sellers with house prices set to continue to rise.

Investors remain a key ingredient of the Sydney housing market with the latest ABS home loan data revealing another extraordinary month for investor activity in New South Wales. 
The value of loans approved for residential investment soared over May to a new monthly record of $5.18 billion – the first time the $5 billion mark has been exceeded over a month in New South Wales. 
The value of investor finance approved is an extraordinary 43 percent higher over the first 5 months of this year compared to the same period a year ago.
Investor activity now accounts for 57 percent of overall home sales finance activity in New South Wales and will also continue to fuel prices growth in the Sydney market."