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'.

Monday, 15 February 2016

New car sales have never been higher

New car sales soar

Sales of New Motor Vehicles increased strongly by +5.1 per cent (seasonally adjusted) from a year ago to 98,055 in January. In trend terms sales were +4.3 per cent higher at 97,973. 

Looking at the annualsed figures, new motor vehicle sales hit a new all-time high of 1,252,969.

Sports Utility Vehicles (SUVs) continue to dominate the sector, increasing their share of the market from 18 per cent to 36 per cent over the past decade.

Queensland led the way in January with a strong +4.1 per cent jump in sales. Over the past year, New South Wales and Victoria have seen new motor vehicle sales rise to record levels, more than offsetting a decline in Western Australia. 

The figures mirror what has been found elsewhere by SGS Economics and Planning, that (mining exporting regions aside) recent growth has been driven by the capital cities, while GDP per capita has been falling across the major regional areas of Australia. 

In the two most populous states growth has boomed in Sydney (+3.0 per cent) and Melbourne (+3.1 per cent), but growth in regional New South Wales (+0.6 per cent) and Victoria (+0.3 per cent) has sunk in per capita terms. 

Read the full SGS report here