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.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email

Wednesday, 3 July 2013

New home sales keep on climbing...

And now for some brighter news. 

New home sales climbed again in May (+1.6%) after their increase in April (+3.6%).

The increase in the month was driven by both increases in sales of new houses (+0.9%) and new units (+5.7%).

New home sales hit record lows in September 2012, but have bounced by some 23% since that time. 

As you can see from the figures above, it has been mainly units which are driving the growth, as might be expected.

Source: HIA

As ever, the stats are not smooth across the states.

New home sales which have been strong in Western Australia, are now tapering off, but New South Wales, Victoria and South Australia are picking up the slack.

Detached house sales were up most in NSW (+8.8%), South Australia (+6.9%) and Victoria (+4.3%) but fell in Western Australia (-2.2%) and Queensland (-10.3%).

Overall, promising signs but still much work to be done to bring new home sales back up to the levels seen in 2011 as part of Australia's 'Great Rebalancing' of the economy.