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.
Wednesday, 11 January 2017
Retail trade consolidates
Retail trade turnover missed expectations in rising by a seasonally adjusted 0.2 per cent to $25.66 billion, although this was the first miss in four months and came off the back of a 0.5 per cent gain in October.
The annual rate of turnover growth has eased back to 3.3 per cent, comfortably below the half decade average.
Around the traps
There were decent gains in November in New South Wales and Victoria, but not much to write home about elsewhere.
The Australian Capital Territory has long been the leader in annual retail turnover growth since the opening of the Canberra IKEA, with New South Wales slotting into second spot, but growth has stalled in Western Australia.
Smashed avo rally over?
The best performing sector this month was 'threads 'n' treads' - clothing and footwear - and the worst, surprisingly enough, was eating out!
Still, I wouldn't read too much into one month of figures - the trend figures show a 14.21 per cent share of total retail accounted for by takeaway food and eating out. It's never been higher.
A somewhat underwhelming result for retail trade this month, though when spending on services are included Commsec estimated that spending was galloping along at its fastest level since the financial crisis.