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).

5 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 finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Wednesday, 21 January 2015

Regional Property Markets Hit Hard

Something we've been warning about for a long time as commodity prices unwind, coal in particular - Central Queensland's regional property markets getting beaten down.

House prices in former 'hotspot' Emerald have already fallen sharply

The Bowen market has been plagued with similar problems and very high vacancy rates.

Mackay, Rockhampton, Gladstone and Moranbah all facing difficulties of varying magnitudes.

More here.

"House prices across Central Queensland fell as much as 13% in the September quarter as the impact of the resource sector downturn continues to bite into the property market.

The most affected of the major centres (in the REIQ report) was the industrial hub of Gladstone where six suburbs (including Clinton 12% down to $380,511 West Gladstone 13% down to $349,176 and Kin Kora, 11% down to $371,519) recorded double digit falls in median house prices (on the back of more than 550 sales).
In the Rockhampton region, house prices dropped between 1% (Mount Morgan down to $158,888) and 5% (Allenstown down to $272,421) to make home ownership even more affordable.
Frenchville continued to be a strong performer in a buyers market with prices falling just 2% to $338,267 on the back of 151 sales.
Other areas to see major sales action were the more upmarket suburbs of Norman Gardens (141 sales for a 2% drop to $369,337) and The Range (108 sales down to $377,970). 
Gracemere, which had experienced major growth during the mining boom, saw house prices drop another 4% to $318,895 based on 129 sales.
Every suburb in Mackay recorded a drop in house price with Sarina copping the biggest drop of 11% down to $323,724 while most areas saw falls of between 2% and 3% (including Slade Point 3% down to $361,895).
The property market in the mining centre of Emerald looks to have stabilised with prices staying put at $382,243 after 149 sales while Biloela fell 2% to $295,845.
The loss of hundreds of CQ mining job in the past quarter hurt Moranbah where house prices fell 7% to $374,635 - which is a 28% slump over 12 month period."