Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 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's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Friday, 20 January 2017

Working all the hours?

VICtop of the tree

Having experienced a huge surge in the number of hours worked by all employees in 2015 to record highs, New South Wales saw things flatten out in 2016. 

Victoria has picked up the mantle, scoring by far and away the best improvement in 2016, with the total number of hours worked surging by 3.4 per cent. 

The population of Victoria grew by very strongly by about 2.1 per cent, perhaps even a little more, which helps of course.

Although coming from a low base, it was good to see South Australia in positive territory, with a 1.5 per cent improvement (although this only takes the number of hours back up to where it was in The middle of 2012).

Hours worked declined in Tasmania, and remain at the levels seen way back in 2007. 

Western Australia is still in negative territory, but far less so than was the case as recently as June.

Resources capex still has quite a bit further to fall in Western Australia in 2017, but a number of metrics have suggested that the nadir of the market may be approaching, while mortgage serviceability in the state is now at its best level in 13 years. 

Residential property prices fell by 4 per cent in Perth over the year to September 2016.

Youth unemployment has deteriorated lately, a lack of opportunities for the most expendable cohort being a key indicator of a weak labour market.