Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

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.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email

Saturday, 25 June 2016

Auf Wiedersehen, Pet!

Brexit stage left

Well, well. It's all aboard the Brexit flotilla!

Britons stunned pollsters and financial markets by voting a decisive 51.9 per cent (17.4 million votes) to 48.1 per cent (16.1 million votes) to leave the European Union (EU) leading to instant currency carnage, the British pound experiencing unprecedented declines to hit its lowest level in three decades. 

The vote started surprisingly badly for the "Bremain" campaign, with the Geordies voting to remain, but unconvincingly so, and then the Mackems voting to leave by an enormous margin before gannin' on the hoy (or whatever it is they do in Sunderland these days).

In truth, nobody would have been that surprised to see some of the more deprived areas voting to leave the EU.

But once South Buckinghamshire - which is, like, Beaconsfield! - voted to leave you just knew it was all over red rover. 

In the event Northern Ireland, Scotland, Gibraltar, and London voted to remain, but much of the remainder of England and Wales voted to leg it.

The Scots will in all likelihood demand a second referendum now, and maybe there will be calls for unification in Ireland.

And who knows what might follow?

What a shemozzle!

Polls suggested that generally it was the more privileged, higher educated, and younger folk - the ones who will have to live with the decision - voting to remain, but older types and lower socio-demographic classes voted to do one.

Outstanding analysis from the Guardian here shows how a sense of disenfranchisement and real or perceived lack of opportunity and wages growth may have led folk to vote out.

Immigration was doubtless also a major driver of votes for an exit.

Perhaps this will prove to be harsh on the younger generations who will no longer have the right to live and work in 27 other European countries.

Markets react

Down Under the Aussie dollar got absolutely walloped, down to a 73 handle before rebounding quite strongly, while bond yields fell to record lows.

Commodity prices generally sold off, although gold spiked. 

Aussie shares initially took a bit of a thrashing, eventually closing down by 3.17 per cent. Not that big a hit in the grand scheme of things. 

There were also predictions of the UK FTSE 100 losing the will to live, but in the event the market closed down only 3.15 per cent to be back where it was just a few days ago at 6,138.69. 

Potentially a momentous decision, though, with Britain set to lose its Prime Minister.

In keeping with true British tradition, this so-termed class war revolt will in all likelihood see one Etonian replaced by another. 

Nobody really seems to know the implications of what this might all mean for Britain over the next few years.

A contraction of economic growth, certainly. A recession, maybe.

But it will be a good long while before anyone really knows...