Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

'Must-read, must-follow, one of the finest property analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for in-depth analysis' - David Scutt, Business Insider.

"I've been investing 40 years yet I still learned new concepts; one of the finest young commentators" - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate - loads of good data & charts, the most comprehensive analyst I follow in Australia...follow Pete Wargent' - Jonathan Tepper, Variant Perception, 2 x NYT bestseller.

'Superlative work' - Grant Williams, founder RealVision.

Wednesday, 8 February 2017

Asking prices jump in Sydney & Melbourne

Asking prices rise

Thus reports SQM Research in its weekly residential newsletter. 

Asking prices for houses in Melbourne are 11.4 per cent higher than a year ago, and in Sydney the figure was 11.5 per cent.

Hobart also recorded outsized gains, while Brisbane, Canberra, and Adelaide each recorded moderate increases. 

A key driver appears to be a lack of new stock being brought to market, with upgraders perhaps discouraged by prohibitive transaction costs in the form of stamp duty. 


Nationally listings were down by 5.5 per cent from a year ago, with Melbourne in particular chewing its way through a previously elevated number of listings. 

Sydney listings were down by 6.6 per cent in January from a month earlier to just 21,633 (remember that Sydney is Australia's most populous capital city, and this number is much lower than in Melbourne, and even Brisbane and Perth). 


It's still quite early in the year to make an accurate assessment, but if this trend towards a constipated market continues there will be a relatively high amount of competition for not much stock this year in Sydney and Melbourne.