Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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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, 3 February 2015
"Rate cut to turbo-charge Sydney house-price growth"
"The Reserve Bank's cut in interest rates has prompted speculation from property experts that the Sydney housing market could be in for another boost.
Property prices across the city rose at boom-time levels of 14.1 per cent in the 12 months to December, according to Domain Group's Housing Report.
LJ Hooker national research manager Matthew Tiller said the cut was likely to prompt another uptick in prices.
"This would come on the back of another surge in demand predominantly from investors in the inner-ring suburbs".
Dr. Andrew Wilson noted that only Brisbane showed anything like Sydney's performance in 2014, suggesting that other markets were so much cooler that Australia would benefit from different interest rates for each state!
"Domain Group figures show that the capital city with the highest price growth rate after Sydney was Brisbane at 6.1 per cent in 2014.
"We probably need a state by state interest rate policy as the growth has been so different," he said." I've made a similar point on many occasions previously - current monetary policy settings are too loose for Sydney's economy, but low interest rates is what we are set for and the housing market will likely now move into overdrive.
There were a couple of other very interesting releases today on international trade and record building approvals, but, hey, let's save some of the fun for tomorrow!