Pete Wargent

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553 appearances 2 recordings 1 series first heard Oct 2022 last heard Jan 2023

Pete Wargent’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · 🏠 10 most expensive suburbs in Australia | ft. Pete Wargent · 2 Jan 2023 podcast

So they're still within that gravitational pull of Sydney, but a little bit cheaper.

And even within Sydney itself, there are obviously unit prices increasing.

So SQM are expecting units to outperform houses next year, partly because of the reform to stamp duty.

So that's one place SQM thinks Perth will also finally start to see some capital growth after a very lean decade.

And that's partly because rental vacancies are now very close to zero in Western Australia.

Yeah, so generally there is a concept in real estate, the idea of the ripple effect.

So if prices rise in a certain area, families get priced out and then they look for the next available equivalent.

So in Brisbane, a recent example through this cycle would be somewhere like Oxley, which was previously a very working class area, not much in the way of amenities.

But prices went much higher in suburbs like Graceville and Corinda, which are adjacent.

And then people started looking one stop further along the train line.

Big investment from firms like Woolworths and big development around the train station there.

And every time you go back to the suburb, you can see it's changing.

The old

sort of post-war Queensland houses being pulled down, replaced with new builds.

So that's kind of a recent example over the past decade.

I think in Brisbane, over the decade ahead, you'll probably find that some of those suburbs on the north side.

I think one of the things that has changed a little bit over the past decade

two or three years is that people don't need to be in the city five days a week now so potentially as you mentioned that some of those suburbs are a little bit further out from the CBD maybe in the sort of 10 to 20k radius in Brisbane which is starting to see the gentrification still got decent schools you can still get to the city if you need to but not everybody needs to be in the office every day now.

Yeah, so I guess, yeah, the time of recording, we've got the cash rate target is now above 3%, which even sort of 9, 10 months ago, people would have thought, well, they would have said it was unthinkable that we'd get so much in the way of tightening so quickly.

So I think the dynamic for 2023 is,

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