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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Friday, 5 July 2013

Residex: Sydney house prices to the moon ($1 million by 2019)

Real estate optimism abounds everywhere at the moment. From Residex:

"The latest statistics reveal that there are a number of significant news stories to be told and depending on which way you look at things, the news could be good or bad.
If you are anxious for personal wealth gains and you are invested in housing, the May statistics reveal that most markets have produced growth in housing values. On the other hand, if you are trying to get funds together to buy a house then the news is not so positive. Rents are rising, house prices are increasing and home savings deposits are growing at a lower rate. In fact, after tax savings will not be keeping up with House Price Inflation.
For the retired population that rely on investment income, wealth will have decreased due to the share market adjusting down and reducing interest rates.
International exporters, manufacturers and farmers should have a twinkle in their eye as the Australian dollar has adjusted down from its high. This means prospects are looking brighter as you have become more competitive.
A significant landmark was achieved in May. The cost of the median house in Sydney is now more than $700,000. 
If growth continues at an annual rate of just 5.2 per cent per annum, which is a likely outcome and is less than the Residex model predicts, the Sydney median house price will rise to $1 million over the next seven years. In fact, the Residex predictive model suggests this outcome will be achieved a year earlier, by 2019."