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, 16 June 2015
Record 362,000 new motor sales in NSW
Robust new motor vehicle sales
The ABS released its Sale of New Motor Vehicles figures for the month of May 2015 today, which revealed a healthy enough 93,479 units shifted in the month.
On a rolling annual basis total new motor vehicle sales of 1.12 million sit a little below the record high of 1.15 million set in mid-2013.
More than 372,000 SUVs have been sold over the past year in Australia, and the Sports Utility could in time become the premier vehicle of choice for Australian consumers, surpassing the standard passenger vehicle.
The firing Sydney economy has helped New South Wales to a record high of 362,773 sales of new motor vehicles over the past 12 months.
However, the national figures are being pulled back by an ongoing decline in sales in Western Australia.
While the month-to-month numbers do jump around a little erratically as one might expect, smoothing the figures on a rolling annual basis shows that it has been the "wealth effect" of rising dwelling prices in Sydney and Melbourne which have driven new motor vehicle sales over the past year.
On the other hand, Western Australia is experiencing exactly the reverse dynamic as resources investment, and correspondingly employment, continues to decline.