Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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'.

Thursday, 31 March 2016

Overseas born Aussies hit a 120 year high

Internal migration

A quick browse through the ABS Migration data for financial year 2015 confirms what we already knew: that Melbourne (+6,600) and Brisbane (+3,985) are now the greatest beneficiaries of net internal migration.

Adelaide, on the other hand, lost a painful 3,985 persons to net internal migration in the financial year.

As usual the biggest absolute drain was away from Sydney at a net loss of 15,867, many of whom moved outwards to regional New South Wales. 

That said, the harbour city more than compensates by attracting tens of thousands of immigrants per annum from overseas, and Sydney also experienced a net internal gain in 15 to 24 year olds, partly due to the array of education opportunities on offer.

In total New South Wales attracted a huge 167,150 net overseas arrivals for net immigration of 66,086. 

The migration figures confirmed that total net overseas migration of +168,200 was about 10 per cent lower than in the preceding financial year, with total population growth steadying at around 313,000 towards the end of 2015.

Population born overseas

The share of the resident population born overseas increased again in the 2015 financial year to 28.2 per cent, which is up from 24.2 per cent a decade earlier and the highest share since the 1800s, being the period following the Eureka Stockade and the Victorian gold rush!

Following the end of the White Australia policy - and particularly since the turn of the century - the percentage has been solidly increasing for a decade and a half now, and if you include those with a foreign born parent, the total percentage rises more sharply still.

With the share of foreign born residents increasing, Australian may soon surpass Switzerland and possibly even New Zealand to be second only to Luxembourg on this measure. 

While British born residents (at 1,207,000 or 5.1 per per cent of residents) and New Zealand born residents (at 611,400 or 2.6 per cent of residents) still make up the greatest numbers of those born overseas, the trends are changing rapidly towards residents of Asian origin.

Indeed, the number of Aussie residents born in China has more than doubled over the past decade to 481,400, while Indian-born residents have almost tripled over the same time period to 432,700. 

Moving forward the share of Asian-born residents is set to increase, partly at the expense of their European-born counterparts. 

Notably, unlike migrants from say, Italy, the median age migrants from countries such as India has declined from 37 years to 33.4 years over the past decade.

If housing market trends are of interest to you, it may be profitable for you to follow the flow of Asian capital.