Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

'Huge fan of your work. Very impressive!' - Scott Pape, The Barefoot Investor, Australia's #1 bestseller.

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Business Insider.

'I've been investing 40 years yet still learn new concepts from Pete; one of the finest young commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate - loads of good data & charts...most comprehensive analyst I follow in Oz' - Jonathan Tepper, Variant Perception, 2 x NYT bestseller.

Friday, 22 July 2016

Mining boom hangover

Unemployment hotspots

Total Townsville unemployment totaled 95,300 in June, according to the detailed labour force figures reported by the Australian Bureau of Statistics. 

This was a a bit of a rebound from the multi-year low recorded in May, but some 30,200 or 24 percent below the 2010 peak during the mining boom. 

Trials in the tropics

The unemployment rate in the Townsville region increased to 14.8 per cent.

The male unemployment rate was 15.9 per cent.

These unemployment rate figures were both the highest on record, following a high profile Nickel industry closure, but there is much more to Townsville than one plant. 

The property market has been relatively speakiing, quite steady. 

Vacancy rates are recorded at 6 per cent, with asking rents for houses falling by 19.2 per cent over the past three years. 

Over the same time period median asking prices for houses are down by 10.6 per cent.