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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Tuesday, 2 July 2013

AFG: mortgage sales +17% y/y

Australia's largest mortgage broker reports mortgage sales as being up 17% on a year ago.

However, some states are faring much better than others:

"Mortgage figures for June published today by AFG, Australia's largest mortgage broker, show that while some states surged ahead during the last financial year, others are struggling. 

Overall, national mortgage sales were up 17% in June 2013 compared to the same month last year. Leading the pack was WA, up 30% followed by VIC (25.8%) and NSW (19.9%). 

But QLD sales for June were 2.7% lower than in June 2012, and SA figures were 10.3% lower."

This is being reflected in strong property price growth in Sydney and Perth.

Note: AFG was only established in 1994, and it started to get recognition from around 2006 - thus, there is not much comparable data with which to compare "record sales". Some of the growth will relate to market share rather than sector growth. For this reason, more emphasis should always be placed on ABS figures rather than figures reported by AFG.