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).
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.
Saturday, 28 February 2015
Emerald the next hotspot to crash
Sydney to power ahead of poor mining locations
Interesting how quickly things change.
Only a little over two years ago my predictions of a Sydney property boom were very much out of favour because I'd neglected to note the fortunes of Gladstone, Port Hedland, Moranbah, Karratha, the Hunter Valley etc etc.
Unfortunately for those favouring mining towns those property markets have been crashing all over the place.
I haven't been up to Gladstone for a couple of years and I'm not really qualified to comment, but the prognosis is for a crash.
Although coal jobs are being cut all over the shop, Newcastle and the Hunter Valley are unlikely to be the worst hit areas, because they do have an element of employment diversity.
I expect Emerald will be the next of the small town property hotspot recommendations from 2013 to implode as mining workers relocate back to Brisbane.
From The Australian:
"Blake Graham is uneasy about the changing nature of his home town of Emerald in central Queensland, now the coalmining boom has bust.
Motel owners used to full occupancy and high rates are going broke by the week, with rooms only 30 per cent full at a lowly $89 a night.
Sydney's market goes from strength to strength with a massive and "irresistible" 85.5 percent preliminary clearance rate on Saturday.
This is the second highest preliminary clearance rate on record.