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, 13 May 2013

Housing finance takes off

Well, the market expected an increase in housing finance in March in response to low interest rates.

But they did not anticipate the scale of the increase.

Owner occupied housing lending was up very strongly +5.2% after +2.0% last month.

Investment lending was also up +2.1% after being up +1.9% in the previous month.

Of note is that total lending to buy new dwellings increased +21.1% in the month and financing for construction increased by 4.6%.

Overall this is very health news for the real estate industry in Australia, and shows that the low interest rates are beginning to have the desired effect stimulate sales of new dwellings and construction.

The trend for total finance over the year for all dwellings is clear.

As expected the major rise in mortgage lending was in New South Wales (+8.0%) with Victoria (+5.2%) and WA (+4.0%) not far behind.

Graph: Value of dwelling commitments, Total dwellings

Source: ABS