Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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'.

Wednesday, 18 March 2015

Small House

Sydney view

I'm clocking up a few air miles this week, back and forth to Sydney...well, the Cricket World Cup is on, after all.

Thought I'd go and check out the most expensive one bedroom property in Surry Hills.

This miniscule plot was until recent years just a lowly 44 square metre car space, in a fairly ordinary back laneway of Surry Hills.

The laneway is still ordinary, in fact.

The plot was previously sold for $230,000 in 2008.

After some nifty and award-winning architectural handiwork this unique five storey pad sold last year for some $1.88 million, or more than $42,500 per square metre.

The internal space is now actually 200 square metres.

In price per square metre terms this puts the one-time Surry Hills car space on a par with some of the world's prime location real estate.

Although I took a look around the awesome Butterfly House in Dover Heights a few years ago, I've never seen the interior of Small House. 

Luckily, someone else has done the internal photography here.

There is an obvious underlying point for property investors here, namely that while Australia has a lot of land - nearly 7.7 million square kilometres of it - the great  bulk of it is close to worthless. 

A few prime location spots, however, with a limited supply of land, will command exorbitant prices as the population grows around them.

Surry Hills is one such location, being a favoured destination for much Chinese-sourced capital.