Articles by Pete Wargent

Pete is a Chartered Accountant, Chartered Secretary and has a Financial Planning Diploma. Using a long term approach to building businesses, investing in equities, & owning a portfolio he achieved financial independence at the age of 33. Visit his blog


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Retail turnover increased by just +1.1 per cent over the year to January. After accounting for very rapid population growth and price inflation, this represents quite a significant slowdown for the sector. Source: ABS The national accounts reflected a very similar picture – the Aussie economy grew slightly in Q4 2023, up by 0.2 per…

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With another building firm going into administration yesterday, affecting a further 120 projects, it wasn’t a great surprise to see that home-building activity was falling sharply in late 2023 as the pipeline shrunk. Apartment construction held up better. I’ve been of the opinion that anti-landlord legislation and new land taxes will stifle the supply of…

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The number of temporary visa holders in Australia hit a record high in October of 2,664,523. Excluding visitors, the total was a record 2.32 million. Student visas hit a record high of 672,782, while working holiday visas have roared back to 159,638. It’s been well documented that this is causing some ructions in the rental…

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Property interest payable on dwellings increased from $45 billion to $91 billion in the 2023 financial year, more than doubling in recording an increase of +102 per cent. Good news for banks, I guess but will most likely be crippling for household expenditure, consumption, and retailers over the next year… Gross incomes per capita increased…

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Employment increased +55,000 in October, taking employment in Australia a massive +419,000 higher over the past year to a record 14,173,500. The October result was largely a result of part-time employment, however, some of which may have been driven by temporary hiring related to The Voice referendum (which would likely be unwound in November). Still,…

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The labour force figures came in soft for September, with employment up only very modestly, by +6,700. This did come off the back of some volatile numbers in recent months – seasonal adjustments have been a bit thrown off by shifts in school holidays – so it’s a bit easier to look at a 3-month…

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Australia’s estimated resident population increased by a record +181,600 or +0.7 per cent in the March quarter. The annual growth increased to +563,200 or +2.2 per cent, and it’s now certain that we’ll see record high annual figures recorded over the next six months. Source: ABS Net migration accounted for +152,000 of the quarterly increase,…

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Job ads decreased by -0.4 per cent in August (or ads), to be -6 per cent lower than a year earlier. Although job ads remain at a historically strong level for the time being, a range of forward-looking indicators are now pointing towards the unemployment rising towards 4½ per cent over the months ahead. Source: Jobs…

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