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, 9 June 2017
Tough times for first homebuyers
Housing finance was still pretty strong in April, but down a little to $32.5 billion.
Investor loans showed some signs of easing in the face of regulatory pressures, declining from $12.8 billion to $12.6 billion in the month.
Not too surprisingly some of the decline has been experienced in Queensland, with the state temporarily suffering from some severe weather and flooding from the end of March.
Owner-occupier activity was solid enough in the two most populous states, but remains in a downtrend in Western Australia.
Tighter serviceability criteria are making life hard for first homebuyers, with the average loan size for first-timers declining over the past 13 months to an annual average of $318,200.
Non-first homebuyers are now finding ways to leverage their equity, however, with the average size of their loans increasing to new high annual average of $373,400, despite recent curbs.
Next up, I'll look at where investors are buying.