Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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 Hmmm, one of the world's most popular & widely-read financial publications.

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

Thursday, 6 October 2016

Where on earth?

Greenwich Park

From my post of a week ago, the answer, of course, was the Royal Observatory in Greenwich, built in 1675.

That's Greenwich in London, by the way, not Greenwich in Sydney, which technically didn't exist in 1675. 

The spot is infamous for Greenwich Mean Time (GMT), and in another link with Sydney, the time ball still drops every day to help you synchronise your watch to 1pm. 

Nice work if you got the answer.

Funnily enough of the first three correct responses two were from people living quite nearby in London (and the other was a Pom). 

The Observatory famously overlooks the River Thames and many of London's most noteworthy buildings.

Including, from left to right: The Shard, The 'Walkie Talkie', The 'Cheesegrater', The 'Gerkin', and Tower 42, before scanning around to Docklands, Canary Wharf, and just out of shot to the right, Greenwich Power Station. 

Brexit news

The risk of a Brexit-induced recession has "all but evaporated" (Markit), with the UK Services PMI gauge notching a beat at 52.6 for September. 

The perennially undersupplied London property market has seen transaction volumes fall quite sharply, while the higher (£925,000+) end of the market is hurting in response to punitive stamp duties.

An impact of this has in part been to push demand into lower-priced boroughs, particularly for investors who are now clobbered at a ridiculous rate of SDLT above £925,000. 

We've already witnessed a spike in interest from non-resident buyers interested in the currency play - and foreign capital plays a significant role in London property - as the pound touched another 31-year low against the dollar today.

For a free copy of our Greenwich Borough report, please email