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'.

Wednesday, 27 January 2016

NSW stamps surge past $1bn in December

Record stamps

December 2015 was another record month for stamp duty receipts in New South Wales, with $1.18 billion of transfer duty raised in a single month from 23,963 transactions.

The record monthly result comfortably eclipsed the previous record set of $796 million in stamp duty raised in September 2015.

The latest data released by the Office of State Revenue (OSR) revealed that the stamp duty revenue for December was an astonishing 65 per cent higher than the prior year equivalent figure.

Over the calendar year the New South Wales state government, raised a record $8.7 billion from stamp duty receipts, a huge revenue windfall for the state budget, and a 30 per cent increase from receipts in calendar year 2014. 

The New South Wales stamp duty bonanza was sparked by cuts in interest rates, leading to rising house prices and an increase in transaction levels, particularly from property investors.

Combined with asset sale proceeds (Transgrid) the Sydney property boom cycle is set to deliver a surplus, with stamp duty revenues collected totalling hundreds of millions of dollars above 2015-16 Budget forecasts. 

Sydney is forthwith set to benefit from the unleashing of a massive $70 billion infrastructure boom.