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, 16 March 2017

Now car sales are rolling over too

Car sales roll

The residential construction boom is set to roll over as new apartment valuations miss the mark, and now new motor vehicle sales are rolling over too. 

Fewer than 95,000 new units were shifted in seasonally adjusted terms in January, some way below the peak of more than 100,000 in March 2016. 

Clearly a weaker result. Still, new motor sales have been on a tremendous run, notching up 1.17 million units sold over the past year.

Sports Utilities (SUVs) are now officially taking over the world, as evidenced in the traffic queues of all Australian capital cities.

At the state level, new motor vehicle sales were already in decline in Western Australia, but now other states are easing too. 

Finally, and curiously, it was the best February in four years in terms of monthly production volumes, not that the optimism will last as the industry is shuttered in Australia. 

The wrap

With residential construction set to fall, and new car sales following suit, it's very hard to see how the cash rate will be hiked in 2017, and that's before we even mention the adverse impact of the auto assembly industry closures. 

In fact, there is more likelihood of a cut.

More information will come to light this morning, in the guise of the labour force figures for February 2017.