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

Monday, 15 July 2013

NAB: Foreign buyers of new properties double

Not much of a surprise: NAB reports than foreign property buyers now account for 12-13% of new house and apartment property sales in Australia

This figure is up from just 5-6% in 2011.


Source: NAB

Expect this trend to develop as Chinese investors seek Australian real estate in which to park their capital, particularly as the Australian dollar falls.

Asian capital will be a growing force in Australian real estate during this decade.

This may be stating the obvious, but foreign buyers do not invest in rural Victoria, outer suburbs in South Australia or in distant regional centres.

Instead, Chinese investors tend to buy new off-the-plan apartments in Sydney, Melbourne, Brisbane and the Gold Coast, and these are the places which will benefit most from the flow of foreign capital.

Reports Property Observer:

Asian investors (mainly Chinese) have been driving this trend according to the latest data from the Foreign Investment Review Board, says NAB chief economist Alan Oster.

“A number of factors are driving Chinese investment into Australian property, including initiatives to curb real estate speculation in China, diversification for Chinese property investors and immigration potential."

In reality, there are probably foreign buyers on non-new properties in the market too. Strictly speaking there should not be, but it's doubtful whether the rules are policed stringently.

---

On the subject of China, GDP result later today...watch this space...