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'.
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Wednesday, 17 February 2016
Capital city land prices rise
City land prices rising sharply
The Housing Industry Association (HIA) released its latest land sales data for the quarter ended September 2015, which showed a very strong uplift in residential lot values.
Median lot values were up by +4.2 per cent to above $220,000 despite lower volumes over a period of more than two years since the June 2014 quarter.
"There has been a tightening of market conditions, concentrated in the capital cities" noted the HIA.
The increase was thus driven by capital city land prices which increased sharply by +5.4 per cent in the quarter to be +10.7 per cent higher over the year.
Perhaps unsurprisingly the strongest increases were seen in Sydney, where lot values jumped by +22.8 per cent over the year to September.
Despite having the most expensive land prices, Sydney has the second largest average lot size at 537 square metres.
Somewhat counterintuitively Adelaide has the smallest median lot sizes at 375 square metres.
The South Australian capital was the only capital city to see its lot values decline in over the year, down by -1.0 per cent.
Summarily the Australian population continues to grow strongly, but shovel ready land supply has not kept pace, resulting in rising lot prices.
Over the past five years median lot prices nationally have increased by around +22 per cent to $225,000.
Problems in the "Iron Triangle" with losses in Whyalla - reports ABC here.