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'.

Thursday, 8 June 2017

Debbie does...damage!

Storm warning

A category four tropical cyclone - the one now known as Tropical Cyclone Debbie - crossed the North Queensland coast in late March this year.

According to the ABS the ensuing strong wind and storm surges "caused significant damage to transport infrastructure to the ports, resulting in a significant decrease in export quantities of coal in April 2017".

And how!

Australia's recently mammoth trade surpluses were nowhere to be seen in April, with the monthly surplus dropping by 82 per cent or $2,614 million to just $555 million, in seasonally adjusted terms.

Imports have lifted very robustly, up by more than 20 per cent over the past year, which is a strong signal for the domestic economy.


The damage done in the month was all down to coal exports, with export values almost halved.

  
Despite the monthly shock, export values have performed solidly over the past year, with annual merchandise export values lifting to record highs.

Annual exports to China also hit a thunderous record high of $93 billion over the year to April.


And while there was a temporary setback for Queensland's trade balance in April, coal exports will rise again in due course. 


Moreover, services and tourism continue what has been a multi-year recovery.


The major downer has been the price of iron ore, which has been hit extremely hard in recent weeks.