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.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Thursday, 10 April 2014

Rents

More happy news for the little landlords in Sydney as apartment rents jumped by 1.0% over the last quarter and by some 4.3% over the last year to a median rental of $490 per week.

Sydney apartment rents have increased strongly by 3.6% per annum over the past 5 years.

To put that in some kind of meaningful way: 5 years ago it cost around $21,300 per annum to rent an average flat, and today it will cost you around $25,500.

Meanwhile, incomes have increased and Sydney apartment prices have followed suit.

Therefore the advice being splashed about over all these years to not buy is rapidly turning out to be an absolute shocker in the harbour city - wages have climbed higher, rents are higher and prices are higher.

Pick out on your own favourites below, but it is now quite clear that yields are deteriorating in certain other locations, with Canberra, Hobart and Perth standouts.

As usual, I have no idea what is going on in Darwin's seasonal property markets with house rents apparently plummeting per some data providers but apartment rents reportedly booming according to others - the NT capital is a destination that I've strictly reserved for holidays and visiting mates.

As an interesting aside, the median rental for a flat in Sydney will soon be on a par with the median rental for a house, with the average apartment being located closer to the city and unit-dwelling continuing to become a more popular choice over time.



Source: APM