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Co-founder & CEO of AllenWargent property market & hedge fund advisory.
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Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory, 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.
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Thursday, 5 November 2015
Seasonally adjusted retail trade turnover increased by 0.4 per cent to $24.5 billion, a steady result.
State versus state
The housing boom in Sydney and to a lesser extent Melbourne has persuaded consumers to loosen the old purse strings a bit in those two cities over the past year.
That said, the retail surge does now seem to be softening in New South Wales now.
The retail winners from higher asset values have included household goods over the past year, but again that mini-boom now seems to be fading.
It's seemingly not been much fun for department stores this month, but Aussies should at least be looking good with spending on "threads and treads" up nicely over the past year.
Eagle-eyed observers will have noted that September is the end of the third quarter, so it's worth noting for Q3 GDP that retail turnover in volume terms increased by 0.6 per cent for the three month period.