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.

"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, 2 December 2016

Retail delivers again

Retail improves

The third quarter of 2016 was pretty much a write-off for economic growth in Australia.

The fourth quarter seems to have gotten off to a brighter start, with retail turnover increasing by +0.5 per cent to a record $25.6 billion. 

This follows on from a +0.6 per cent increase in September, so things appear to be looking up. 

Total industry retail turnover was up by +3.5 per cent over the year to October.

Queensland upgrade

Queensland had seen some unusual looking results in recent months, but retail turnover bounced back to increase by +0.8 per cent in October. 

With the exception of South Australia, all states saw an increase in turnover in the month. 

Year-on-year retail turnover growth in Queensland is now the second strongest in the nation, with all states and territories now in the black. 

Nowhere can touch the Australian Capital Territory, though, where annual growth has surged to +8.3 per cent (see here for why)


While department stores are hurting, cafes, restaurants and takeaways have seen turnover rise inexorably, up by another +7.3 per cent over the year to October. 

The sector now accounts for a seventh of total retail turnover on the ABS series, an unprecedented high. 

The wrap

Back-to-back strong reports for retail trade, suggesting that consumption in the economy could experience a reasonably good run-in to Christmas.