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.

Monday, 8 May 2017

Brisbane auctions

Bris auctions

I recently looked here at how Queensland's mortgage and transfers market has ground its way through a long and slow recovery since widespread flooding in the state in 2011. 

I don't often take a look at auction clearance rates in Brisbane.

Since so few properties go to auction, the results are very thin, can be volatile, and don't necessarily provide a great indicator as to the health or otherwise of the housing market. 

Over a similar timeline since 2011 the trend here has also been steadily upwards, but with a notable lull at around the time APRA implemented its first round of macroprudential measures.

This week Brisbane posted a preliminary clearance rate of 60.8 per cent, well up from 41.2 per cent on the same weekend last year, though volumes were considerably lower reflecting a dearth of quality stock on the market. 

Source: CoreLogic

Brisbane's inner city apartment market, not well captured in these numbers, is struggling.

Sydney recorded a preliminary clearance rate of 77.8 per cent - up from 71.8 per cent last year - and similar numbers were seen in Melbourne.

Volumes were much lower in all three of the most populous capitals.