Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 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 finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Tuesday, 14 January 2014

AFG: Sydney investors driving mortgage growth

The latest mortgage data from one of Australia's largest mortgage providers AFG shows that it is New South Wales which continues to lead the property markets recovery.

The mortgage index jumped by 18.9% in the second half of 2013 as low interest rates bite.

The table below shows how the average mortgage size has grown over the past year in the state.

Western Australia also showed impressive growth.

On the other hand, South Australia went backwards, reflecting the ongoing relative weakness of the Adelaide market.

Source: Australian Finance Group

Reported AFG:

"The volume of mortgages processed by AFG, Australia's largest mortgage broker, jumped by 18.9% in the second half of 2013. AFG's latest Mortgage Index, published today, shows that the company arranged $21.7 billion in home loans during the second half of 2013 compared to $18.3 billion in the first half. The July to December figure is 18.9% higher than for the first half of the year, and 27% higher than for the same period in 2012.

While the overall national picture shows very robust growth, significant differences were revealed between the different states. New South Wales showed the largest increase, with mortgage volumes in the second half of the year powering 33% above first half levels. In Victoria, the increase was 21%, Queensland 13%, Western Australia 8% and South Australia 6%.
Mark Hewitt, General Manager of Sales and Operations says: 'There's no question that New South Wales was Investment Central during the second half of 2013, with a lot of mortgage activity accounted for by Sydney focused investors, upgraders and people looking to refinance. The dearth of first home buyers in NSW continues to be a long term concern. Even if investment activity levels in Sydney taper during 2014, elsewhere in the country we're seeing solid, sustainable growth, with first home buyers underpinning the long-term health of the markets, especially in SA and WA."