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, 13 January 2017
6.75 million families; not enough houses
6.75 million families
The ABS released its annual figures on families yesterday.
I don't have the space to run through the whole data series this morning!
In short, however, over the last four years there are 401,800 additional families in Australia.
This takes the total number of families up to 6.75 million, making the family unit the key homebuying cohort.
The biggest increases were seen in New South Wales (118,800), Victoria (128,800), and Queensland (83,300), with these three states accounting for 83 per cent of the increase.
On the other hand, over the last four years the number of families actually declined a little in Tasmania and the Northern Territory.
There were some other interesting takeaways from the single parent family figures, which showed that 56 per cent of single parent families had an employed parent.
The key point, though, is that over the past four years we've built far too many high rise apartments and not nearly enough family-appropriate accommodation.