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

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

Thursday, 29 January 2015

"Sydney back in boom mode for 2015"

Sydney growth accelerates

Unsurprisingly given low borrowing rates which are heading lower, Sydney's housing market  is set for another bumper year in 2015.

The latest Domain Group figures revealed that Sydney house prices accelerated in Q4 2014, recording 4.1 percent growth to be 14.1 percent higher over the year.

This was the strongest quarter of 2014 according to Dr. Andrew Wilson of the Domain Group.


"As this comes on the back of more than 15 per cent a year earlier, Domain Group senior economist Dr Andrew Wilson said the figures confirmed the Sydney property market is in "hyperdrive while the rest of the country is in second gear". 

Dr Wilson said most of the growth was in the December quarter. 

"The Sydney boom is back...the median house price increased 4.1 per cent – that's the strongest increase of any of the quarters of the year."

Dr Wilson is forecasting price growth of between 7 and 10 per cent for 2015. 
"And closer to 10 per cent," he said.
The median house price for Sydney is now $873,786. 
Apartment prices jumped 10.4 per cent over the year and 2.9 per cent over the quarter to $597,668.
Some regions had extraordinary house price growth last year, with the upper north shore and north-west shooting up 21.8 per cent."
Although median prices don't always paint a full picture our favoured sectors of the market generally performed very strongly in 2014 including the upper north shore (+21.8 percent), the inner west (+18 percent), Canterbury Bankstown (+15.8 percent) and the lower north shore (+13.1 percent).
Concludes the article:
"You would have thought it would have slowed down, but it just hasn't.
"And because of this talk of interest rates going down even further, that's led to even more people inquiring."
Dr Wilson said across Sydney, most of the house price growth was in the $1 million to $2 million price range, although prestige prices had grown about 10 per cent over the year."
The weakest performing markets for median house prices in Q4 2014 were Adelaide (+0.3 percent), and seasonally volatile Darwin (-6.0 percent), where median house prices have tumbled by 6.8 percent over the past year.
Other markets are generally moving up but less significantly, with national median house price growth up by 2.1 percent in Q4 2014, a figure skewed by the large gains in Sydney.