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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Wednesday, 2 April 2014

Mining cliff...not yet

The ABS reported engineering construction activity for the December quarter and...well, it increased.

In seasonally adjusted terms activity recorded a small fall, but over the past year, remarkably, activity is still up.

In due course, the figures will have to start dropping - if you read the spending intentions of the mining groups in their presos uploaded to the securities exchange this is absolutely clear.

But the good news is that another quarter has passed and the trend is much of the rest of the economy is becoming very promising: dwelling approvals today at the highest annualised level we have seen in two decades, dwelling prices yesterday cruising up to new all-time highs, retail trade to follow later this week, exports booming etc etc.

Can't be bothered to chart the data since I'm at Sydney Airport, but the gist is...there has been no mining cliff yet.

Graph: Value of work done, Chain volume measures

Source: ABS