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'.

Friday, 26 May 2017

The big move north is finally underway

All points north

It's taken a long old while to get going, but the great cyclical migration north is picking up the pace as the Sydney housing market prices out some homebuyers, and people gradually work out how dreary the winters are down south.

It's been pretty evident in Brisbane for a while - every second person you meet has seemingly just moved up from somewhere else, that somewhere else usually being Sydney. 

And the figures now have confirmed that Brisbane now has the highest net internal migration gain of all the capital cities, hitting a pacy 10,100 in 2015-16.

Net internal migration to the Gold Coast (6,428) and Sunshine Coast (6,200) also increased to the highest levels in about a decade. 

As the creator of most new jobs, Melbourne is attracting a historically high number of migrants internally, with a net gain of 8,300 people, while Hobart moved into positive territory with a net gain of 400. 

On the other side of the coin Adelaide (-6,100) is suffering a remarkable brain drain, partly to the bright lights of Melbourne. 

Meanwhile the resources capitals Perth (-3,300) and Darwin (-1,200) have continued to grapple with the winding down of mining construction, while Canberra (-180) also lost a handful residents on a net basis. 

Of the regional areas outside Queensland, Geelong (4,216) is seeing fairly strong internal migration, and we might expect this to continue

Foreign born Sydney

The figures released by the ABS for 2015-16 provided a remarkable insight into the changing face of Sydney. 

Sydney lost 23,200 people net during the financial year, with the biggest internal migration loss to regional New South Wales as retirees take their equity to cheaper and coastal locations (and who can blame them?). 

Sydney's rapid ongoing population growth has instead been driven by a combination of high rates of immigration from overseas and natural growth (more births than deaths), meaning that a large chunk of the resident population today is overseas born.