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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 better 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.
Wednesday, 15 March 2017
Reflexivity in action!
Rising prices beget more buyers?
It certainly seems that way.
New South Wales investor loans burned 49 per cent higher than a year earlier in January as investors chase Sydney property prices higher.
In Victoria, investor loans were up by 35 per cent, with Melbourne dwelling prices also rising.
On the flip side, the value of investor loans in Western Australia was down by 16 per cent year-on-year.
In Darwin and the Northern Territory, meanwhile, the value of investor loans has dropped to the lowest level in a decade.
Such can be the reflexive nature of markets.
Total lending pulls back
Overall, January wasn't a particularly strong month for total lending according to the Australian Bureau of Statistics (ABS), with a decline in commercial lending in the month.
After a recent spike in November - a near record month - total lending pulled back quite sharply at the beginning of 2017.
In fact, the result for total lending at $67.6 billion was a 5-month low.
Meanwhile, investors pile into Sydney and Melbourne, fearful of changes being made to legislation.