Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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 Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Monday, 27 March 2017

Sydney year-high clearance rate

Investor rush

CoreLogic reported the highest preliminary clearance rate of the year for Sydney at well above 80 per cent from more than 1,000 planned auctions.

Domain reported a preliminary clearance rate of just above 80 per cent with a median auction price of $1,300,500.

Melbourne posted a similar clearance rate.

The median Sydney auction price was 11 per cent higher than a year ago, when the reported auction clearance rate was only 61.4 per cent.

The freakishly high median auction price result of 25 February has dropped off the 4pMA chart below. 

Next week a much lower price on 4 March will drop off, meaning that another record high is a shoo-in.

This mirrors what most dwelling price indexes are now showing, which is median dwelling prices rising to new highs in 2017.

There has been plenty to suggest that investors are piling in to the market to 'get in' ahead of any potential changes to tax legislation. 

Despite higher auction numbers, total listings are below where they were last year in each of the most populous capitals, indicating markets that have tightened.