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'.

Thursday, 2 March 2017

Approvals clinging on

Approvals holding up

Capital city detached house approvals seem to be rolling over in many cases, while Perth continues its 38 per cent nosedive (which has been ongoing now for more than two years since December 2014). 

Apartment approvals in Sydney and Melbourne have held up at historically high levels, reflecting strong ongoing demand from buyers, but developers in Brisbane have finally seen the light with attached dwelling approvals falling to all but zip in January. 

More specifically in the 'high rise' apartment sector there were scarcely any approvals at all in the entire state of Queensland in January, following on from so much exuberance in recent times. 

Piecing it all together, although seasonally adjusted approvals were technically a notch higher in the month at 17,412 (+1.2 per cent), there is no mistaking the downtrend. 

At the sectoral level, while annual 'high-rise' apartment approvals have declined from ~78,000 to ~69,000, one feels that this decline has a long way to run. 

Certainly the Housing Industry Association (HIA) believes so, with multi-unit commencements forecast to decline by 25 per cent and 12 per cent over the next two financial years respectively. 

It's rather enough to make you wonder what's going to power economic growth once residential construction drops off...

Leonard Nimoy, William Shatner