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Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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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'.
"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.
Tuesday, 3 January 2017
Commodity prices up 45.5pc in 2016
Commodity prices soar
There were a great many surprises in 2016, and not all of them were bad!
The spot prices of Australia's bulk commodities soared by 145 per cent last year on the back of Chinese speculation, supply disruptions, and infrastructure spending.
Spot prices took off earlier in the year, particularly from July onwards, but the good news is that this is now filtering through into the export prices received by Aussie miners.
In turn, preliminary estimates for the Reserve Bank's Index of Commodity Prices backed up a revised 11.8 per cent gain in November with another thumping 8.1 per cent gain in December.
This puts the index up by 45.5 per cent in 2016.
It's been a bit of a smoother ride in Aussie dollar terms, with the A$ index up by 9.3 per cent in December to be 39.7 per cent higher over the year.
Using spot prices for the bulk commodity prices the index was up by a thunderous 68 per cent over the year in SDR terms.