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'.
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Monday, 2 November 2015
Chinese investment in Queensland explodes
Chinese investors loving Queensland
Earlier this year I wrote here about the extent to which Chinese investment in Australian real estate has mushroomed over the past few years.
Unfortunately the Foreign Investment Review Board is not due to release its 2015 Annual Report for some time, and furthermore not all states release full disclosure of foreign land ownership.
One state which does so is Queensland, and indeed its Annual Report for the 2015 financial year was released only this week.
The Foreign Ownership of Land Register (which requires disclose of the ownership of freehold or leasehold land) provided further evidence that Chinese investment in Queensland has absolutely exploded, with the value of annual acqusitions soaring by more than 170 per cent in the space of only two financial years from $323 million to $873 million.
This accounted for a greater value of investment than all five of the other major countries disclosed combined.
The data shows that while British interests continue to own the greatest land area in Queensland, Chinese investors have been very much focussed on the acquisition of urban land, in particular locations in Brisbane and on the Gold Coast.
Indeed, Chinese investors accounted for a thunderous 63 per cent of foreign interest land acquisitions on the Gold Coast in 2014-15.
Meanwhile, foreign interest land acquisitions in Brisbane for the financial year were overwhelmingly mopped up by investors from China (37 per cent), Singapore (33 per cent), and Hong Kong (8 per cent).
The value of foreign land acquisitions in the financial year away from Brisbane and the Gold Coast was considerably lower.
The interest of Chinese investors in Australian property is set to scale unprecedented heights in 2016, but the impacts of this are not always well understood.
I wrote in more detail here about what these impacts and trends might be.