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, 26 April 2017
Land prices accelerate to record high
Land prices surge
The weighted median vacant lot value rose by 4.8 per cent in the December quarter to a record high of $254,406, according to the Housing Industry Association (HIA).
Vacant lot prices rose by 9.3 per cent over the year, while volumes are declining sharply, implying a shortage of shovel ready land for homes in some capital cities.
The rise was driven by massive annual increases in Melbourne (+16.3 per cent), Sydney (+10.7 per cent), and Adelaide (+10.3 per cent).
There were however also increases in Brisbane (+5.4 per cent), Hobart (+3.1 per cent), and Perth (+0.9 per cent).
Sydney has the most expensive median vacant land price, rising by 65 per cent over the last five years to $455,000, which is about 45 per cent of the median house price in the harbour city.
The increase in median lot values came despite a significant drop in sales volumes since 2015.
Lot sales totalled 10,756 in the December quarter, down by 23 per cent from Q3 2016, and by a massive 40 per cent from the prior comparative period.