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, 27 November 2016

North shore market sizzling

Sydney auction market strong

Sydney recorded a preliminary auction clearance rate of 82 per cent (CoreLogic) on Super Saturday, with Domain reporting a figure of 79 percent. 

The median auction price, admittedly a crude market measure if ever there was one, came in at $1,270,000.

Smoothing the median auction prices of a 4pMA basis shows that over the past two months median auction prices have been tracking about 10 per cent or so higher than a year ago. 

However, auctions only represent a part of the market, and in so,e secondary areas auctions have become less common as sentiment has tailed off, resulting in considerably lower volumes overall than a year ago.

This is consistent with moderate year-on-year median price growth for Sydney as a whole, but with a number of prime location areas still firing, in particular on the lower north shore, northern beaches, and in parts of the eastern suburbs.

An oversized 2 bedroom, 1 bathroom unit on Crows Nest Road close to Waverton station sold for a thunderous $1.35 million at auction on Saturday.

At the beginning of this cycle in 2012 roughly equivalent units sold for just under $800,000.