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 Hmmm...one of the world's most popular & widely-read financial publications.

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

Friday, 28 March 2014

Record Australian household wealth

Record wealth

Commsec reported that Australian household wealth has reached a new record high as share markets (and therefore super balances) as well as dwelling prices continued to rise in 2013.


Source: Commsec

At the end of 2013, total household wealth exceeded a record $7,500 billion, an increase of around $250 billion in the calendar year.

That's an average of $322,757 per capita, making Australia an extraordinarily wealthy country.

Household wealth during the financial crisis suffered a little as share markets dived, but Australia had bounced back relatively swiftly by the end of 2013.

Uneven

As in all capitalist societies, however, the wealth continues to be distributed unevenly.

Largely thanks to our compulsory superannuation (a major driver of the high average household wealth figure) most working Australians will have benefited from a strong 5 years on the share markets.

Similarly those who own their own home will have benefited since dwelling prices reached new heights in 2013 as wages and household incomes increased for yet another year.

The losers in today's low interest rate environment include net savers and often pensioners, since fixed interest returns have dived over the past two decades.

The beneficiaries since the financial crisis have included those with profitable businesses, large share portfolios and heavy real estate exposure.