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'.

Tuesday, 9 June 2015

SQM stock and asking prices news

SQM news

SQM Research released its latest newsletter and it was fascinating stuff as always.

Sign up for their newsletter here.

Total listings increased from the prior month in May, particularly in Melbourne and Sydney, which saw an 11.8 per cent increase.

Stock on market is clearly trending up in Perth and Darwin.

In Melbourne, listings have confounded the critics to come down by 16 per cent from very lofty levels indeed in May 2014 as stock is gradually being absorbed. 

In Sydney, stock levels remain exceptionally low, still down by 14.5 per cent year-on-year.

As a share of total capital city listings Sydney sits below way Melbourne, and beneath Brisbane and even Perth.

SQM's asking price index showed prices for both Sydney units (+0.8 per cent) and houses (+1.4 per cent) continuing to rise in the month of May, which casts further doubt on the idea that sales prices fell in May (they surely didn't).

Over the past year asking prices for Sydney houses and units are up by 12.4 per cent and 11.1 per cent respectively.

The SQM newsletter notes that despite the increase in Sydney listings in May, anecdotally stock is still being absorbed exceptionally quickly.

It certainly feels that way, with very few listings apparent in some popular suburbs.

This point was re-iterated by Louis Christopher, Managing Director of SQM Research, over on Twitter.

It's something of an ongoing nightmare for prospective buyers.