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, 11 June 2016

Arrium collapse

Not pretty.

With the future of Whyalla's steelworks remaining up in the air, the property market appears to be at risk of imploding.

With vacancy rates above 20 per cent and rising, median asking rents appear to be dropping at a quite alarming pace. 

Asking rents down by about 30 to 50 per cent over the last three years, with the pace of the decline having accelerated over the past year, and more so over the last quarter.

Source: SQM Research

This can be a pervasive risk for towns that are so heavily reliant upon one or two industries or firms for employment and for the local economy to thrive. 

The administrator's call for government assistance to support the Arrium steelworks was rejected by Prime Minister Turnbull.

The Labor state government has pledged support in the form of a $50 million funding facility for the prospective new owner of Arrium - were such a deal to be found.