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.

Friday, 28 April 2017

Stamped out

Stamp duties explode

From the sublime to the ridiculous, state governments levied an outlandish $20.6 billion in stamp duties on conveyances in FY2016.

This figures was up by 77 per cent since FY2012. 

So much for investors "rorting" the system by savings a few thousand in net rental losses!

In New South Wales, where the bulk of property investment activity has taken place, stamp duties collected increased by an absurd 122 per cent over the five year period.

And that's with even more to come in FY2017!


Total state and local government taxes, including land taxes, increased from $33.5 billion in FY2012 to $49.6 billion.


The increase in total property taxes over the same year year period was therefore not far off 50 per cent!

As such, property alone accounted for well over half of taxation revenue for state and local governments at 52 per cent, up from 46 per cent in 2012.

No doubting that more property taxes will be the call, though. Always is!