Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, 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.

"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.

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Friday, 22 July 2016

Mining boom hangover

Unemployment hotspots

Total Townsville unemployment totaled 95,300 in June, according to the detailed labour force figures reported by the Australian Bureau of Statistics. 

This was a a bit of a rebound from the multi-year low recorded in May, but some 30,200 or 24 percent below the 2010 peak during the mining boom. 

Trials in the tropics

The unemployment rate in the Townsville region increased to 14.8 per cent.

The male unemployment rate was 15.9 per cent.

These unemployment rate figures were both the highest on record, following a high profile Nickel industry closure, but there is much more to Townsville than one plant. 

The property market has been relatively speakiing, quite steady. 

Vacancy rates are recorded at 6 per cent, with asking rents for houses falling by 19.2 per cent over the past three years. 

Over the same time period median asking prices for houses are down by 10.6 per cent.