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.

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.