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, 21 August 2013
Westpac index still says above-trend growth
Westpac's leading index for economic activity remains essentially unchanged with a reading of 293.4.
The leading index is designed to forecast economic growth for 3 to 9 months into the future, and continues to predict above trend economic growth, with a likely pace of economic activity way up at 3.6%.
While some components of the index weakened a little, this is still a very strong result, and implies a far better outlook than the Reserve Bank's own forecasts of 2.25% growth in 2013, returning to 2.5% in 2014.
Westpac's senior economist Bill Evans thinks there will another interest rate cut in November (see yesterday's post) followed by another in 2014.
Meanwhile, others continue to predict a recession.
Someone is getting it wildly wrong - not quite sure who yet.
Just hopping on the train into London. Beautiful sunny day here.