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Pete Wargent blogspot
Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).
5 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 finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.
"Pete 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'.
"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go Hmmm...one of the world's most popular & widely-read financial publications.
"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.
Sunday, 12 January 2014
Sydney's inner west leads the rise in land values
As expected, Sydney's inner west leads the rise in Australia's land values.
"The rise in property prices has flowed through to land values, helping to lift the value of all land across NSW to more than $1 trillion for the first time.
This values the state's land at five times the size of New Zealand's entire economy of $NZ207 billion ($190 billion).
The rise in land values reverses the broad decline of a year earlier, and further gains are expected this year as demand pushes property prices further ahead.
For some property investors, this may lift their land tax liability, and the rise may be taken into account by some councils when considering rates rises.
Amid buoyant demand for properties, Sydney's inner west has again been the focal point.
A year ago, the rise in residential land values in Sydney was led by Strathfield, followed by Marrickville. In the year just ended, the gains spread further west, with the once-unfashionable Auburn leading the way with a hefty 16.1 per cent rise. Suburbs such as Ashfield, Marrickville and, further afield, Ryde have also recorded big gains.
The inner west has been the clear leader in value rises for five years, reflecting lower property prices in that part of Sydney as well as a shift in preferences for greater access to the city centre.
Land values in Marrickville have risen a heady 30 per cent in the past five years, running ahead of Burwood at 27 per cent and Ashfield and Botany Bay at 25 per cent."