PODCAST: A special edition on Australian property with Pete Wargent

Pete Wargent of Allen Wargent, left, with David Scutt and Paul Colgan of Business Insider.

The Australian property market has turned.

After a spectacular surge in prices through 2016 and most of last year, the major cities are now seeing price declines, and auction clearance rates continue to point to year-on-year falls in prices for the foreseeable future.

While some pullback in prices was expected after the performance of recent years, the big question now is how it’s all going to play out. There is evidence of discounting by real estate agents of 10% or more on some properties in pockets of the market that have been continuously strong performers, and there have also been some signs of tighter lending by Australian banks.

To talk through it all we’re joined on the latest episode of the Devils and Details podcast by Pete Wargent of Allen Wargent property buyers. Wargent is a chartered accountant and a former director at Deloitte, and is one of the most respected property commentators in the country, with a detailed knowledge of how broad markets as well as individual properties have been performing.

You can tune in below, listen online here, find the show on iTunes (where it’s still rated 5 stars) or under “Devils and Details” on your preferred podcasting platform.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.