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 finest 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.
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.