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 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.
Wednesday, 15 February 2017
New car sales fade (but not in Victoria)
New motor sales fading
After a strong run, new motor vehicle sales appear to be softening at the national level.
The seasonally adjusted result of 97,636 units sold in January was some way below the record high set in March 2016.
Annualised sales of 1.18 million are still tracking at just about the highest level on record, give or take a few Acadias.
Indeed, while on the subject of sports utilities, the SUV accounted for a record high 37.6 per cent of new units sold over the year to January 2017.
At the state level, New South Wales and Victoria are still breaking records, with Victoria in particular seeing its seasonally adjusted sales for January comfortably eclipsing all previous results, reflecting record high population growth in Melbourne.
On the other hand new vehicle sales in the resources exporting states are fading, with the trend in decline in South Australia, Western Australia, Queensland, and the Northern Territory, in turn sending the national result marginally negative.
The automotive production figures aren't yet in for the month of January, but with domestic production lines being halted we can rest assured that the 2017 numbers will be diabolical.