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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Tuesday, 17 January 2017

New motor sales running out of gas

Sales tick up in December

New motor vehicle sales ticked up by 0.3 per cent to 97,305 in December in seasonally adjusted terms, but it looks as though the trend is weakening now after a solid year. 

It was a record calendar year for new units sold at just shy of 1.18 million, but it looks as though the peak could now be in the rear view mirror. 

The boom was mainly driven by New South Wales, which had notched both a record month in December, and a record year calendar too. 

Offsetting this, new vehicle sales have been decelerating in the resources states.

Sports Utilities (SUVs) accounted for a never-before-seen 440,000 new sales in 2016, some 37 per cent of the market. 

Indeed, luxury car sales accounted for a record share of the market in 2016 too, strongly suggesting that equity from appreciating homes in Sydney and Melbourne has been tapped up.

Sadly in the future the cars driven by Aussies will be imports, with Holden the latest manufacturer to announce its closure date for production in Australia. 

Production volumes nosedived to their lowest level in years in December at a measly 9,334, down by a thunderous 46 per cent from December 2011, and the annual total will inevitably continue to drop much further from here.