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'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Friday, 1 June 2012

Housing market gloom...or is it?

Latest RP Data figures released today here. Doom and gloom for some areas, as we might expect:

House prices year-on-year in Melbourne are down some 8.8%; Brisbane-Gold Coast hasn't fared much better with house values down 6.8%, and confidence has been damaged there post-flooding.

With house values down 4.6% in Sydney and 4.1% in Perth over the past 12 months you'd be forgiven for thinking that it's all doom and gloom out there.

Well, not quite.

If you read my blog regularly, you'll know that I've been chewing ears off for some five years or so now regarding the unaffordable nature of much of our housing stock, and arguing very strongly that the smart place to invest is in units in the inner/middle suburbs - and particularly units in the inner-west and certain pockets of the eastern suburbs in Sydney.

Of course, you won't hear about this because the headlines are preaching doom, gloom and housing market crashes - but take a closer look at the figures - it's right there in black and white.

RP Data shows that Sydney unit values are up 3.6% for the quarter. Similarly strong results on units in Adelaide and Perth.

Houses getting cheaper could be a wonderful thing for Aussies in the long term. In the meantime, smart investors are making outstanding returns by acquiring and holding investment grade units in desirable lifestyle suburbs with great transport access to the cities, as interest rates just keep on falling.

Lesson: there is no one property market in Australia. Never has been; never will be.