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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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
"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.