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.
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Thursday, 21 June 2012
Living or investing in the CBD?
I've talked many times on this blog about the benefits or otherwise of buying investment property in the centre of Australian capital cities.
Personally, I steer clear. While there is often a decent demand for city living, my main concern is that a glut of supply can come on the market at times due to the lack of height restrictions on tower blocks.
Huge new developments can mean that your property is suddenly competing with a great many others with many of the same characteristics as yours. Property investors in general should look for scarcity value.
Strata fees in the hotel-style developments can also be especially painful.
One demographic change that I haven't discussed before is the influence of Asian immigration. In Sydney, for example, approaching 20% of the population is now Asian which is a natural consequence of our immigration policies correctly noting our geographical location in the world.
It's at least worthy of consideration whether new immigrants are more comfortable with high-density living than those who have arrived on Aussie shores before. After all, tall tower blocks have not seen apartment prices held back too much in Hong Kong! Food for thought, anyway.
Living in the CBD
This is a new thing for me, and after a week or so, on balance I'm enjoying it. My last 5 or 6 places of residence have all either been in Pyrmont or the eastern suburbs.
You can certainly never get bored in the city, particularly now as the CBD no longer 'dies' at the weekend. The big new Westfield and the QVB mean that the city is as alive as ever on Saturdays and Sundays.
Yes, there is the general hum of traffic noise to consider (and police sirens, and recycling trucks tipping bottles, and couriers playing bugles - why do they have to do that near my apartment? - and...*insert random city noises here*).
But overall, I'm loving it so far. It's very convenient for everything. And here's the clincher: every night I can step downstairs and look at what you see below.
Worth listening to a terrible bugle rendition of The Last Post any day of the week!