Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, 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.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Friday, 10 May 2013

Mortgage competition hotting up

ANZ is the first major bank to cut its lending rates by more than the cash rate dropping 27bps from its variable mortgage rate.

This drops ANZ's variable rate to just 6.13% per annum.

This is good news for borrowers and a sign that the major banks are competing for business which will mean better deals.

Veda Advantage today reported its strongest demand for credit in years. However, the mortgage demand is focussed on only two states - WA and NSW:

"Mortgage enquiries were strongest in WA (+12.7%), followed by NSW (+5.1%) and SA (+3.7%).  Mortgage enquiries decreased in TAS (-8.5%), QLD (-5.3%) and VIC (-1.1%), with the pace of decline in mortgage enquiries worsening in each of these states in the March quarter.  There was also weakness in the ACT (-4.8%), while the growth in mortgage enquiries has levelled out in the NT (+0.7%) after a period of strength in late 2012."

Meanwhile the RBA releases its Statement on Monetary Policy today here.

Stocks will edge up to close out the trading week.