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, 13 January 2014

Housing finance continued to surge in November

The latest housing finance data from the ABS showed that low interest rates continue to thrust Aussies towards the housing markets.

Source: ABS

The results showed housing finance increasing by a further 1.1% in the month.

The number of dwelling commitments surged to a seasonally adjusted 52,912, representing a very strong increase over the past two years.

Graph: No. of dwelling commitments, Owner occupied housing

Source: ABS

Meanwhile, the total value of dwelling commitments continued to head straight up - to a seasonally adjusted $26,934 million.

Graph: Value of dwelling commitments, Total dwellings

Source: ABS

Once again, the presence of investors was highly evident, up 1.5% in the month, and an incredible 35% over the past year.

This is the greatest percentage increase in investment lending in a decade since the last great boom in 2003.

Notably, more of the increase in lending in the month came from refinancing than from new loans, and the level of first homebuyers remained subdued.

The data is commensurate with further gains in house prices in early 2014.