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'.

Tuesday, 20 September 2016

Vacancy rates drop everywhere; big city rents jump

Vacancies fall everywhere

As expected SQM Research's figures showed vacancy rates declining in August in every capital city, and rents jumping in the big cities. 

Hobart's vacancy rate fell to just 0.5 per cent, while both Sydney (1.7 per cent) and Melbourne tightened (1.9 per cent) despite talk of an oversupply.

Asking rents for units were up by +4.5 per cent in Melbourne and +4.0 per cent over the year to August, suggesting that "landlords are in control of the market" according to SQM. 

Vacancy rates also declined in August in Brisbane, Adelaide, Perth, Darwin, and Canberra. 

Smoothing the data on a 4mMA basis shows that Canberra's market has also tightened substantially, with asking rents soaring by +12 per cent. 

The smoothed figures show that Darwin is on the mend, but Perth still has a 5 per cent vacancy rate to chew through before rents can rise again. 

According to Louis Christopher of SQM Research:

"Sydney is likely to remain a landlords' market, as the city's growing population creates demand for new stock".

Only in one sub-region of Sydney has SQM recorded an increase in advertised vacancies.