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.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email

Thursday, 23 May 2013

Rents grow in Perth, Sydney, Darwin

From RP Data today:

“Across Australia’s capital cities over the past 12 months to April 2013, rental rates have increased by 3.5 per cent for houses and 3.3 per cent for units. While according to Mr Kusher this is a relatively measured rate of growth, it remains higher than inflation. Across the combined capital cities, median weekly rents are recorded at $474/week for houses and $440/week for units.

Although rental growth is moderate and yields are virtually unchanged over the year, Mr Kusher said “the fact that returns on investment properties are significantly higher than the return on cash is one of the key reasons why investors are again looking towards the housing market for investment return”…

Perth and Darwin continue to be the standout performers for rental growth performance where rates have surged ahead over the year. Simultaneously, the not-so-good performers have been Canberra and Hobart where in these markets, rental growth has dropped. 

As at April 2013, house rents were most expensive in Darwin ($614/week) followed by: Sydney ($572/week), Canberra ($539/week) and Perth ($508/week). For units, rents are currently highest in Sydney at $498/week followed by: Darwin ($486/week), Canberra ($448/week) and Perth ($446/week).”

Other rental growth was seen in Sydney apartments (+3.0%), Sydney houses (+2.8%) and houses in Brisbane (+3.1%) but the real gains were in Darwin (houses +11.7%, units +10.4%) and Perth (houses +10.5%, units +8.3%) as noted above.

Melbourne was middle-of-the-road with rents up for houses (+2.0%) and units (+2.0%).

Rental growth was very poor in Adelaide, non-existent in Canberra and rents fell badly in Hobart.

A bit of a sell-off on the Aussie stock market today with the All Ords down by 1.61% so far...nothing compared to Japan though where the Nikkei closed down by 7.32%.