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.

Tuesday, 15 July 2014

New car sales doing fine...in non-mining states

A nice seasonally adjusted bounce in new motor vehicle sales in June of +1.7% , with sales up from May everywhere except for Queensland (click chart):


That said, over the past year notable seasonally adjusted falls in new motor vehicle sales in Queensland (4.6% y/y) and Western Australia (-5.9% y/y) have been recorded, perhaps reflective of mining investment having passed its peak.

The figures also tanked over the past year for Tasmania (-12.3% y/y) and ACT (2.2% y/y) but the ABS doesn't appear to believe its own figures for Tassie and Canberra, so perhaps not too much to read into that.

Anyway, a nice bounce in new motor vehicle sales in June regardless.

No doubt what the big winner has been over the past 15 years - Sports Utility Vehicles (SUVs), sales of which just keep on climbing (click chart):


In short, a nice boost to sales in June across the nation, indicating that the post-budget "shock" was as expected merely a temporary knee-jerk reaction rather than a matter of lasting damage to the economy.