Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, 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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Friday, 11 May 2012

Rents in Sydney's inner west growing strongly

There's an awful lot of claptrap talked about property markets - but I own properties in the inner west of Sydney myself and, I can confirm that rents are indeed growing very sharply there.

As Michael Yardney points out in this article here, this is simply being driven by supply and demand: vacancy rates in the inner west are lower than 1%.  That is an extremely low vacancy rate.

Sydney's eastern suburbs have a similar low-vacancy dynamic and rents will probably continue rise there too, though property value growth might be more unlikely in the more expensive east.

In fact, Metropole manage several of my properties and re-let one of them to a new tenant within 24 hours of listing it. So, yes, there's plenty of rental demand out there.

Predictably, the news out of Melbourne is less promising with vacancy rates being higher, and Melbourne values having boomed in recent years.

Photo: Sydney's inner west (well, a bit of it!).