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 better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.
"Pete Wargent 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'.
"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.
Wednesday, 21 December 2016
Another index finishes 2016 on a high
Slower repeat sales price growth in 2016
Residex reported its repeat sale growth summary for the year to November 2016 today.
Like CoreLogic and Domain, it reported Sydney prices rising again into the end of 2016, albeit at a slower annualised pace than CoreLogic.
Residex reported the median house price in Sydney as rising by +3.9 per cent over the year to an all-time high of $1,105,500.
Unit prices rose by a slightly more sprightly pace of +4.6 per cent to a fresh high of $715,500.
Overall, the year-on-year growth rate for house and unit prices has been slower in 2016 than it was in 2015.
The best performing market was Hobart, where the rental market has become very tight.
House prices in Hobart rose by +6 per cent over the year to November, while attractive Launceston was also in positive territory for the year.
Meanwhile, house price growth was also positive in Melbourne, Canberra, Brisbane, and Adelaide.
By far the weakest market was Darwin, where the median house price dropped by -9.1 per cent to $520,000.
For some reason a number of analysts have been talking about cash rate hikes as we move into 2017, although it's comforting to see that Residex is not among that number (I don't reckon so either).
The Residex monthly reports written by Eliza Owen always have some interesting findings.
You can find their full report here.