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, 6 January 2016

Shoppers shopping up a storm

Frenzied frenzy

Having reported record Boxing Day sales for 2015, a rapid fire release from the Australian Retailers Association backed up to report that Aussie consumers are continuing to "shop up a storm", with retailers on track to ring up $16.8 billion of sales in the post-Christmas period to January 15.

"We’ve seen shoppers continue their spending frenzy right throughout the period and into the New Year!" enthused ARA executive director Russell Zimmerman, albeit possibly without an exclamation mark. 

I note in passing that January 15 is still some time in the future, and therefore some caution should be exercised in interpreting these numbers.

Equity mate

The ripper result is evidently in part an outcome of the wealth effect of dwelling price gains.

Consequently Victoria (up 5.6 per cent to $4.2 billion) and New South Wales (up 3.8 per cent to $5.3 billion) lead the way, but in fact growth is expected to be reasonably solid across most states and territories. 

Winning categories of spend are expected to includ food, household goods, apparel, department stores, hospitality...actually, it's just all categories (and "other" in particular).

"It's great to see shoppers out in force at retail stores!" rhapsodised Zimmerman (OK it's reported speech - he possibly articulated this view matter-of-factly, to be fair).

Indeed, a fine result which underscores relatively comfortable mortgage repayments* in the present low interest rate environment, and zippy consumer confidence.



*on average, as a share of gross disposable income.