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'.

Tuesday, 9 May 2017

Retail stinker

Retail fail

Terrible retail numbers for March, with turnover declining for the third time in four months, down by 0.1 per cent to $25,63 billion.


Annual retail retail turnover growth has slowed to 2.2 per cent, the weakest result in years.


Resources slowdown

Queenslanders seem to have gone on a spending strike of late, with turnover down 1.3 per cent in March (there was a Cyclone late in the month). 


In fact, retail turnover was down in no fewer than four of the states and territories.


Disinflationary

With heightened competition from overseas, there are clear cut signs of disinflationary pressures in clothing, footwear, furniture, and household appliances.

I went for a walk through Fortitude Valley earlier today, and despite record levels of apartment construction the furnishings shops have 20 per cent of advertised price banners plastered everywhere. 


And this is very much in evidence in the industry level figures, with pain being felt across many sectors. 


In fact, only cafes, restaurants and takeaway food are thriving right now!


Overall, this was a rubbish result, with the price-adjusted quarterly retail volume figures also showing a reduction of 0.1 per cent, implying that consumption could be a drag on GDP in the first quarter.

Onward to the Budget!