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Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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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).
4 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.
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"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'.
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Tuesday, 4 July 2017
Hobart the tightest market
Listings up in June
Listings rose 3 per cent in June, driven mainly by a 7 per cent jump in Brisbane.
Higher listings in the month mirror recent softening auction trends, reported SQM Research.
Over the year, listings are still 3.3 per cent lower, with Melbourne (-12.7 per cent) and Hobart (-14,8 per cent) recording excessive declines.
Melbourne house prices have exploded
The Hobart market is very tight, with a total of only 2912 listings, sending rents and house prices higher.
With the other exception of Melbourne, listings are generally higher this year than last.
Listings in Brisbane jumped by 7 per cent in June, as vendors struggle gamely to offload a glut of apartment stock.
Meanwhile SQM reported that median asking prices in Melbourne have exploded, rising by 22 per cent over the year to June.
Indeed, Melbourne asking prices for houses have increased by a massive 48 per cent over the past three years, now comfortably outstripping growth in all other capital cities, including house prices in Sydney at 39 per cent.