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.

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Wednesday, 7 August 2013

ABS: Housing finance blasts ahead +2.7% in June

It's turning into a nightmare for those who confidently predicted a property market crash.

Housing finance was up yet again by a massive seasonally adjusted 2.7% in June for owner occupied housing, and this is even before the cash rate was dropped to 2.50%.

Maybe we have seen the last rate cut in the interest rate cycle.

The total value of investor finance is also up by a massive 18% on a year ago.

You can see the numbers here on the ABS release, but the charts basically tell the story: the property market recovery is well on its way.

The number of dwelling commitments has soared above 50,000.

Number of dwelling commitments

Graph: No. of dwelling commitments, Owner occupied housing

Source: ABS

Far more significantly, the value of dwelling commitments is pushing $24,000m, a huge increase on the levels seen in June 2012.

A closer look at the charts shows that total housing finance is up by a monster amount (~15%) since December 2012.

Value of dwelling commitments

Graph: Value of dwelling commitments, Total dwellings

Source: ABS

Expect property prices particularly in Sydney to ramp up accordingly.