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'.

Friday, 29 January 2016

Residex market update

December market update

Residex released its December 2015 property market report here

The best performing property type in 2015 was houses in Sydney, which increased by +1.7 per cent in the fourth quarter to a median price of $1,065,500, for a huge increase of +18.4 per cent over the year.

Sydney unit prices increased by +1.7 per cent in the fourth quarter to be up by +13.5 per cent over the year.

Residex reported that over the two years of the current market cycle, the median house price in Sydney increased by +$375,000. 

Interestingly, Melbourne house prices recorded growth of +13 per cent in 2015, which was considerably stronger than many analysts expected. 

Brisbane houses (+3.4 per cent) and unit prices (+3.8 per cent) recorded solid growth, though Brisbane is a clear multi-speed market at the present time, with some examples of a disconnect between asking prices and what buyers are prepared to pay.

Mirvac and Stockland have reported more Sydney buyers are looking at apartments in Brisbane, while other developers note that up to 40 per cent of sales are going to Sydney buyers.

Perth house prices increased by +2.3 per cent in December, but were flat over 2015, while Perth unit prices were down by -4 per cent over the year. 

Capital City Summary

Despite these solid results, there can be little price that house prices have declined in western and outer-western Sydney towards the end of the year.

It's at this stage of the cycle where the wheat will be separated from the chaff, and those who paid thousands over reserve in outer and western Sydney suburbs could feel some pain in 2016.

On Monday data provider CoreLogic-RP Data will report that Sydney home values increased by +0.5 per cent in January.