Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

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.

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Sunday, 9 April 2017

Hammer time

Hammer time

What a week it's been in property!

Everyone from Waleed to Pat McGrath has been doing macro-pru.

I looked at APRA's latest round of measures in a bit more detail here.

The measures appear to be more of a slow tightening of the noose rather than anything more dramatic.

Certainly there wasn't much holding back in evidence in the weekend auction results.

Melbourne and Sydney both record preliminary clearance rates of well above 80 per cent from massive volumes of 1,245 and 1,154 respectively.

Meanwhile, Adelaide recorded a preliminary clearance rate of 86 per cent, which is as high as I can remember seeing for the South Australian capital, albeit from a smaller number of auctions. 

Sydney's median auction price was $1,320,000, up 9 per cent from the same weekend a year ago, with the increase all driven by detached houses. 

Sydney's median auction price has exceeded $1.3 million for four consecutive weekends for the first time.