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, 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.