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Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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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.
Sunday, 15 March 2015
Check out most interesting articles of the week summarised by Michael Yardney over at Property Update here.
While on the property theme, some good news for homeowners this month.
I've noted here previously how Reserve Bank research has shown the average mortgage buffer to be at remarkably high levels - the equivalent of two full years ahead on repayments, which was an extraordinary finding,
The reason for this is explained here, this phenomenon being largely due to some banks’ systems not automatically changing customer repayment amounts as interest rates have declined (and in many cases households have not actively sought to reduce their repayments).
Research this week from the Commonwealth Bank showed that some 75 percent of mortgage repayments schedules are in a prepayment position. From SBS:
"Low interest rates are helping put home owners ahead on their mortgage repayments, a Commonwealth Bank survey shows.
Home owners are racing ahead on their mortgage repayments thanks to lower interest rates, a survey shows.
Research by the Commonwealth Bank shows half of the lender's home loan customers plan to get ahead on their mortgages by keeping their repayments the same as they were before the latest round of interest rate cuts.
The survey of more than 1,000 home loan customers also found that nearly three quarters were already ahead on their repayments by an average of seven payments.
More than a fifth also plan to use the extra money to help pay off their credit cards and other personal debts.
Some lenders have cut standard variable home loan rates to less than five per cent following the Reserve Bank's surprise interest rate cut in February.
The RBA's cash rate is at a historic low of 2.25 per cent."