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).

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 is 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 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 - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Thursday, 26 June 2014

Job vacancies data strong for NSW

A nice bounce in the Jobs Vacancies data today from the ABS, consistent with a stronger New South Wales economy ahead.

Jobs vacancies nationally recorded a nice 2.1% seasonally adjusted bounce in the May quarter, implying better times ahead for the economy (click image):

As ever, though, I'd implore readers to consider the data at a more localised level.

Doing so reveals a continuing strong upturn in the New South Wales market, but certain challenges in the mining states, in Queensland and WA in particular.

Jobs vacancies are up by more than a third since May 2013 in New South Wales after having dived in 2012/13, which suggests to me that the state's economy is starting to fire up (click chart):

The chart essentially shows the total number of job vacancies recovering steadily after confidence took a bit of a shellacking 2011-2013 as debt crises shook global markets.

Incidentally, the gap in the chart is not an error - at least, it isn't on my part.

The Australian Bureau of Statistics suspended the Jobs Vacancies surveys in FY09/10 due to funding being slashed.

Overall, another small piece of the jigsaw which adds a little further weight to my case of NSW being Australia's star economy of the decade.