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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Saturday, 5 April 2014
No private sector growth in Western Sydney
I have always believed that inner suburbs make for better investment choices than outer suburbs from a property investment perspective.
It's simple: more people want to live close to the city, yet simple geometry tells you that there is far less land available to build on.
Others argue you should invest in distant outer suburbs or in the regions since it's cheaper, using vague anecdotal tales of people upping sticks for an easier life in the country.
That's not at all what the immigration figures tell is happening.
Rather, the overwhelming majority of immigrants are flocking to Sydney, Melbourne, Perth and South-East Queensland.
Since I always caution against the dangers of confirmation bias, don't take my word for it, look at what the statistics tell us about what is coming in the future (i.e. worse traffic, diabolical commute times and increasing pressure on inner suburb property prices).
"Western Sydney has been adding jobs at just one-third of the rate of the rest of the city, increasing the pressure on workers to travel out of the region.
If you live in Sydney, you don't need the stats to tell you this, you can see it happening with your own eyes.