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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Monday, 9 September 2013

China inflation contained at 2.6%

Positive news out of China again, with inflation contained.

This is very positive news as it gives China room to move should it need to in order to fire for its 7.5% growth target (if needed). 

Check out what is happening to the level of iron ore exports from Australia.

From Pascoe at SMH:

"China's August inflation count came in at an annual rate of 2.6 per cent, leaving plenty of room for monetary easing should Beijing need it to stick to the 7.5 per cent economic growth target – but it looks like that won't. Sunday's trade statistics surprised on the upside with a 7.2 per cent jump in exports, signalling renewed global demand for the stuff China makes. There also was a 7 per cent fall in imports that might be seen as less helpful everywhere except in Australia as our key exports were up. Port Hedland exported 33 per cent more iron ore to China last month than it shipped a year ago.

Tomorrow will see Chinese industrial production and retail sales numbers, both of which should be up. The recent fears about a Chinese hard landing continue to recede and the country's continuing urbanisation and industrialisation continue to provide a cushion of commodities demand while our own economy transitions from the construction phase of the resources boom. Meanwhile Chinese tourism this year has been running at a growth rate of about 20 per cent above last year – all without a Barangaroo casino. China already is our second-biggest source of tourists behind the cousins across the ditch with daylight third.

Barring a further external shock, the economic outlook is one of improving growth. Business confidence has received the political shot it was looking for. Next it will seek increased consumer demand to justify investment. On cue, improving house and share prices have a capacity to create a self-reinforcing cycle of investor and consumer confidence – we begin to feel richer."