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.

Wednesday, 24 August 2016

Consumer confidence to multi-year high

Confidence bounces

Whooshka!

Consumer confidence has ripped to its highest level in years.

And why not? 

With the election out of the way with a majority result, low inflation, low interest rates, and strengthening auction clearance rates, consumer confidence was up by +3.6 per cent in the last week according to Roy Morgan Research.

Confidence has increased substantially over the past dozen weeks to sit miles above its quarter-century average.


Consumer confidence in Australia historically tends to lead housing finance and dwelling prices, so this is a big result. 

ANZ reported that every one of the confidence sub-indices recorded strong gains, including notably the time to buy a major household item, which jumped by +5.1 per cent.

Household views on the 1-year economic outlook jumped by +5.4 per cent, and for the 5-year outlook by +4.8 per cent, to see both of these sub-indices above their long run averages. 

Great to see.