Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
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.
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Wednesday, 19 November 2014
Sydney vacancy rate falls to just 1.6 percent
A point we've been making for a while against the proponents of a supposed oversupply of Sydney dwellings.
We have covered off the details why this is the case on several previous occasions, including here and here.
Sure, we'll end up with too much supply of high-density stock in a few of the inner south suburbs, but on a city-wide basis it's not really been happening.
While seasonal decreases can be seen at this time of year, a vacancy rate of just 1.6 percent recorded by SQM Research for the city of Sydney really is low.
By way of comparison, the preceding boom in Sydney was pulled up in 2004 by with vacancy rates of 4.4 percent according to the REIA, and some 5.3 percent on the outer.
The southern state capitals have seen very little in the way of supply response due to market stagnation, and have lower vacancy rates still.
Vacancy rates remain much higher in Melbourne and 2.5 percent, with both Darwin and Perth seeing significant increases over the past year as the mining boom loses its sting.
SQM's latest release also noted that rents have declined in Perth, Canberra and Darwin over the past year, quite significantly in the case of certain property types.
Rents have, however, continued to rise over the past year in Sydney.