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'.

Sunday, 9 August 2015

Cranewatch: Newstead

Industrial zones

I've been quite reserved on here, but what a great Ashes series win for Alastair Cook's England team in the cricket, surprising everyone, including Alastair himself!

Haven't done a "Cranewatch" post for a while. so here goes.

The basic premise is that I take my camera out to areas of Australia which are undergoing a major transformation.

Previously I've looked at Darling Harbour Live, Barangaroo (several times...including a site tour), Mascot, Green Square, Rosebery and Zetland in Sydney.

I've also look at the Central Business District, West End and South Brisbane, Brisbane.

Today, a quick look around what's happening Newstead.

As I looked at here Fortitude Valley and Newstead are two other suburbs in Brisbane which are set to be transformed into apartment-dwelling hubs within close proximity to the city.

And over the short term, of course, this will lead to an oversupply of units, a spike in vacancy rates, and softening rents.

In pictures

Facts, figures and statistics are one thing.

But what does it all look like and feel like in practice?

Surprisingly neat is the answer.

I took the camera down yesterday for a look around the Newstead gasworks locality, which has been converted into a retail precinct with a pleasant picnic area.

The new dwellings will look like a mirror image of what is now in place in Sydney's Mascot.

i.e. high density living.

The new developments have yet to fill up, but the generally "feeling" of the area is actually pretty good - the coffee shops and food bars are busy, even in the evenings. 

Waterfront by Mirvac is now under construction (below).

Cranes are pretty much everywhere in Newstead and the Valley.

Max Brenner and the rest are set to benefit from the new infill.

The new apartments are expensive and will likely be largely sold offshore to Chinese investors.

Much better value elsewhere for domestic buyers.