Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory, 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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Monday, 25 June 2012
Chris Gray: property in Sydney's eastern suburbs firing
I shared a coffee with property expert Chris Gray today and was interested to hear his views on the market.
Chris is well known in property circles as the long-time TV presenter of Sky News Business show Your Money Your Call and his own TV show Your Property Empire. You may also have seen him as the resident property expert on Channel Ten’s very popular The Renovators.
Having successfully built a property portfolio of more than $10 million himself, Gray now helps others to do the same as the founder and CEO of Empire property.
As these guys are in the market every day as Buyers Agents, they are well placed to gauge what is happening in the property market on a more detailed level.
Properties at the premium end are still selling reasonably well in the eastern suburbs of Sydney (the suburbs in which Empire are specialists), but the real action is in the investment grade unit market.
Chris cited a recent example of one client he had to bid at five separate properties for (the other four being bought above the price they were prepared to pay). Bidders are still being gazumped in this median sector of the market.
This reflects what I was discussing in my blog post yesterday, and that is the relative liquidity of the credit markets.
Mortgage rates are low, banks are still lending at high loan-to-value ratios (LVR) and there is plenty of idle cash around waiting to be deployed by investors.
If you think my blog has taken on a little of a property bias over the past week, you’ll be happy to know that I intend to balance this up over the next few days.
Tomorrow I am meeting one of Australia’s most respected share investmeint investors (and best-selling authors) for a coffee (there’s that caffeine intake issue again), so will be interested to hear his views on share investment.
The Aussie share market failed to fire today in spite of the solid trade on the Dow on Friday. The ASX 200 (XJO) was down around 1% with an hour to the closing bell as investors took a cautious view on global growth.