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'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision, author of Things That Make You Go Hmmm...one of the world's most popular & widely-read financial publications.

Thursday, 14 September 2017

Rich get richer

KISS

The ABS released its household incomes and wealth figures for the 2016 financial year.

I'm going to keep this post very simple today - you could spend hours torturing these numbers to fit a preconceived viewpoint, and, alas, I've got better things to do.

Instead, just three observations.

Firstly, mean gross household incomes, after surging very hard through the mining boom, pulled back a bit last year. 

This has become a bit of a familiar theme in recent Aussie data. 


Income inequality generally trended a little higher through the mining boom too, but also fell last financial year, as higher income earners took a hit. 


And thirdly, mean household net worth, having been obliterated by the share market crash, has surged to a record high of just over $929,000.

If people are feeling that inequality is rising, it is - for wealth - if only marginally since 2009-10.

Household net worth increased by $94,000 since the 2014 financial year, with property and financial assets up by $78,000 and $45,000 respectively, and liabilities up by just $19,000.


On average Aussies have assets totalling about $1,097,000, and liabilities of $168,000.

The increase in mean household net worth has not all been about property assets, but real estate has played an important role. 

Mean property assets were $627,000 per household, and mortgages just a shade under $150,000.

Anyway, you could literally spend days hammering out findings from these figures, but I think that'll do as an overview for today.