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.
Thursday, 9 February 2017
Bonza news for Queensland as commodity exports exceed $1bn per week
The state final demand figures showed how Queensland went through a very tough period in 2014 and 2015 as the resources construction boom faded away.
Western Australia is still going through this contractionary phase in 2017.
As I looked at here, however, a boost to Queensland's coal and LNG exports has seen the state's trade balance surge into surplus.
Meanwhile the contraction in resources construction has run its course in the sunshine state.
Further to this, the Queensland Treasury has released figures which show that commodity exports surged by $3.9 billion in 2016 to more than $52 billion, or $1 billion per week, largely due to a rebound in coal prices and record LNG export volumes as the new projects ramp up.
In fact the state level figures for Queensland are a bit understated for recent years, with the statistics not being fully disclosed for some commodities, which are being treated as confidential.
Throw in the impact of the lower dollar which has swelled the Queensland tourism sector, and it's a decent outlook for 2017.
No surprises, then, that net interstate migration into Queensland has been rising since the last quarter of calendar 2014.
In annualised terms internal migration to Queensland has more than doubled to exceed 11,500.
One of the biggest challenges for Queensland is that it has a looming glut of new apartments in inner city Brisbane which will need filling, while the ensuing residential construction downturn will also be a tough period to navigate.