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'.

Sunday, 21 May 2017

Sydney auctions bounce

Auctions rebound

Domain reported a preliminary auction clearance rate of 76.9 per cent for Sydney on Saturday, recording 512 sales. 

The median auction price was back up to its highest level in six weeks at $1,300,000, and was quite considerably higher than the corresponding weekend last year. 

The median auction price reported for houses increased from $1,407,500 last year to $1,511,000, while the median price of units sold under the hammer increased modestly to $875,000 from $850,000 last year. 


CoreLogic reported a clearance rate for the week of 80.7 per cent in Sydney from well over 1,000 auctions, which was its highest reported result for Sydney since April 9.

The top sale of the weekend was seen in Northbridge, where a grand 5-bedroom waterfront home on 1,891 square metres with panoramic Sydney harbour views and water access fetched $9.3 million. 

A strong result, no doubt, but not a patch on the street record set in September last year. 

Respective auction clearance rates were also very strong in Melbourne.

More lenders are set to report higher mortgage rates this week for interest-only loans.

Despite the unambiguously strong auction results, slowly but surely regulatory and Budget measures respectively are set to strangle city-wide growth in these two markets, as I looked at in a little more detail here and here