Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

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 better 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.

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Monday, 7 January 2013

NAB reports online sales up 27%

This is something I talked about briefly on the Channel 7 Weekend Sunrise show here recently.

While the major retail stores insist that sales have been low and there had been suggestions that Aussies were shunning debt in favour of diligent saving, that just didn't 'feel' right at all.

Some articles suggested that we had moved into a new era of thrift, which I felt very strongly was wrong.

I suspected that weak retail sales have partly been caused by a move to online retail and partly because more of us have been buying goods from overseas while using the strong Aussie dollar to our benefit.

Instead I think the challenge will lie with the big department stores to move with the times and embrace online retail.

Source: NAB

It will be very interesting to see if the stats really begin to back me up here, for this view is much based upon intuition.

Certainly it seems to be the case in some developed countries that folk are mistrusting of investment markets having been burned once, and are instead looking to reduce household debt.

However, I think it's a big call to suggest that we have moved into a new era of thrift.

My thoughts are quite the opposite - the widespread acceptability of running personal finances in the red through the use of plastic seems more likely to me over time to see credit card use increase over time to crisis levels.

It's human nature - it's what we do. Watch this space.