Expect the ABS to show recovery figures: Pete Wargent

Expect the ABS to show recovery figures: Pete Wargent
Expect the ABS to show recovery figures: Pete Wargent
The ABS will release its Household Finance & Wealth data series for Q2 2015.
 
I am expecting to see aggregate net Australian household wealth well over +55% higher than its Q3 2009 nadir, which would be representative of a remarkable recovery.
 
That said, in the period since 30 June there has been something of a king hit to household balance sheets with the ASX 200 index (XJO) having nosedived below 5,000 after dropping by a further 105.5 points or 2% today.
 
As recently as April the market had been threatening to surge above 6,000.
 
Yet as things stand the "XJO 6000" caps have been gently stowed away (back into cold storage with the "FTSE 7000" scarves!) and the bourse is instead shaping to return to the same levels we saw a decade ago.

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Expect the ABS to show recovery figures: Pete Wargent 

 

PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.

His latest book is Four Green Houses and a Red Hotel.

Pete Wargent

Pete Wargent

Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.

Tags: 
Property market

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