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'.
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Saturday, 23 June 2012
2 minute suburb review: Wooolloomooloo
Woolloomooloo is a bit of an enigma, not least because of how difficult it is to spell.
Having been down there today, I thought I'd write a 2 minute suburb review. I'll keep these suburb reviews coming as I visit different places.
No question about this: proximity to the city. A 5 minute walk across The Domain (though perhaps not on your own at night) to Macquarie Street at the top end of the city.
Woolloomooloo still seems to be a slightly uncomfortable mixture of new and old, a suburb of 'three halves' if you like.
On the wharf, there is the premium apartment dwelling, behind the Woolloomooloo Bay Wharf Hotel there is the established housing commission property, and then there is 'party central' at the back of the Holiday Inn, Potts Point (also known as Kings Cross, though officially there is no such suburb in Sydney).
At times, it can be noisy, with the naval base and Thales located in the bay too.
2 minute summary
Woolloomooloo is a very exciting little suburb and potentially a very interesting place to live. The problem for property investors is the lack of appropriate property types.
The wharf might be an excellent place to live and rent, but an investor would be expected to pay some very hefty strata fees for maintenance of what is, according to the Guinness Book of Records, the world's largest wooden structure. The restaurant set on the wharf can be a noisy lot too.
Might be some great capital growth in the suburb over the long-term as demographics change and proximity to the city becomes paramount, but over the shorter-term, I'm not so sure.