Pete Wargent blogspot
Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).
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.
Friday, 13 June 2014
Was just over on the lower north shore today, Sydney Ferries one of the more pleasant ways to experience public transport...it's also great to be able to use the Opal cards on Sydney Ferries now.
And Neutral Bay is one of the great suburbs.
The size of Neutral Bay is approximately 2 square km, and the suburb has four parks covering nearly 5% of total area.
The supply of new housing stock in these lower north shore garden suburbs is low, which puts continual upwards pressure on dwelling prices.
A little about the suburb...
Neutral Bay is a harbourside suburb on Sydney’s lower north shore.
The suburb is located approximately 5km to the north of the CBD in the local government area of North Sydney Council. Surrounding suburbs include North Sydney, Cammeray, Milsons Point and Cremorne.
Along the main road through the suburb, Military Road, is the main shopping district Neutral Bay Junction, It features many quality shops, restaurants and cafes. There is a shopping centre and mall with a supermarket and grocery shops.
The Oaks Hotel is a well-known and popular venue located on the corner of Military Road and Ben Boyd Road and has a number of restaurants and bars.
There are also quality schools nearby on the lower north shore.
The population of Neutral Bay in 2006 was 10,213 people, yet by 2011 the population was 9,387 showing a population decline of 8% in the area during that time - and that's not due to increasing vacancy rates! There's essentially a very limited new supply of dwellings.
According to RP Data research, the predominant age group in Neutral Bay is 25-34 years.
Households in Neutral Bay are primarily childless couples and are likely to be repaying between over $4000 per month on mortgage repayments, and in general, people in Neutral Bay work in professional occupations.
In 2006, 44.6% of the homes in Neutral Bay were owner-occupied compared with 46.0% in 2011, representing a fairly steady result.
Currently the median sales price of houses in the area is around $1.4 million and units around $700,000.
In terms of income distribution, the greatest number of households sits in the $130,000 to $180,000 annualised income bracket.
The Neutral Bay ferry wharf is located at the end of Hayes Street and the Kurraba Wharf (see my photo above) on Kurraba Point can be accessed by Kurraba Road. Ferries run to the city with a travel time of around 10 minutes.
The Warringah Freeway runs along the western border of Neutral Bay, providing links south to the Sydney CBD and to the north. The road is often very busy during peak hours.