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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Tuesday, 20 August 2013
Legacy @ Bondi records Capitol sales
It's interesting how people like to stick to their guns and preconceptions when it comes to views on property, suggesting that the place to invest is in some far-flung town where there are few jobs and few people want to live or invest.
No matter. Use your eyes, ears and common sense, and you'll see where the market is hottest and long-term sustainable price growth will follow (not just growth in median prices as new building takes place, but actual price growth of existing dwellings).
The Australian Financial Review reported that 90 of 93 off-plan apartments at Legacy's Capitol development in Bondi Junction sold in just 5 hours at the weekend.
I guess that's strong demand then.
Note the key point in the article, that supply is being choked in thr inner suburbs of Sydney - that's what causes prices to grow: booming demand meeting constrained supply.
Read the full article here.