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).

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.

Thursday, 9 January 2014

Retail trade beats expectations

Very nice at 0.7% m/m, comfortably beating the market's expectations of 0.4%, meaning that there have been a string of decent numbers in the most recent four months

Retail is growing at an annualised rate of about 7% over that time.

"The seasonally adjusted estimate rose 0.7% in November 2013. This follows a rise of 0.5% in October 2013 and a rise of 0.9% in September 2013."

"In trend terms, Australian turnover rose 4.1% in November 2013 compared with November 2012."

Anecdotally, there may have been some good volumes over the Xmas period too.

This is an expected consequence of lower interest rates and cheaper mortgage repayments.

The building approvals data was not amazing, but still total units approved are up by more than 22% on a year ago, so the trend is pretty good and back at the levels seen in early 2010.

Graph: Dwelling units approved

Source: ABS

Stand by for interest rate hikes in 2014?

If the good data continues they coukd be needed sooner than expected especially as dwelling prices are rising at quite a pace (in some areas at least).