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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Wednesday, 28 September 2016
Stamp duty bonanza continues
The number of property transfers may be somewhat beyond their peak in New South Wales.
But as noted here previously the median price of transfers is much higher than before, particularly in Sydney.
And since duties are raised based upon transaction prices, the NSW Government stamp duty bonanza continues apace.
The Office for State Revenue reported transfer duty revenues of a rip-snorting $8.7 billion in the year to August 2016.
The initial August result was a little below the prior year final comparative, but will in all likelihood be revised up as results wash through.
In any case, the year-on-year change doesn't matter all that much since nobody ever expected or forecast stamps to be this high in the first place.
It's a massive windfall, and the NSW budget coffers runneth over, in turn funding an infrastructure boom.