Imports to rise
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 finest 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, 18 October 2016
New motor sales highest on record
The ABS Sale of New Motor Vehicles figures showed new vehicle sales rising to their highest ever level with a massive 100,640 units shifted in September 2016, for a 2.5 per cent month-on-month increase.
If you want a good reason to own property near public transport links or with a good 'walk score', this chart is probably it.
Total new motor vehicle sales over the year have soared to a record high 1,179,652.
Daring to be 'different'
The boom has entirely been driven by Sports Utility Vehicle (SUV) sales, with another crunching +3.5 per cent increase in the month and 438,362 units shifted in the past 12 months, while sales of 'other' new vehicle types are also rising hard.
Conversely, annual sales of new passenger vehicles (492,257) are now at their lowest level in nearly two decades.
Increases were recorded across the board in every state and territory in September.
But looking around the traps at the rolling annual number of sales shows that the gains have been driven by New South Wales, Victoria, and South Australia, with annual units sold at record highs in each of these states.
Imports to rise
The flip side to this is that Australian production of vehicles is falling and will continue to fall. Thus, we have record high new vehicle sales that must be imported.
The Ford factory in Geelong in Victoria had been operating since 1925 but assembled Australia's last home-made Falcon in the last week of September, with the Broadmeadows plant finally being shuttered in the past fortnight.
As at the final day of production there were reportedly 200 staff remaining on the payroll.