Pete Wargent blogspot
Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).
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.
Thursday, 7 May 2015
Sydney house prices and rents rise
Following on from a consideration yesterday of whether the Sydney market is "oversupplied", Residex released its latest indices for March 2015.
The Residex figures implied that rents have continued to rise at a strong pace in Sydney both for houses (+8.3 per cent) and units (+5.8 per cent) over the past year.
While city level data can certainly mask divergent underlying trends, typically in an oversupplied market house rents would be seen to decline rather than rise at a pace several times the rate of inflation.
House prices in Sydney continued to rise strongly at 3.2 per cent over the first quarter and 16.8 per cent over the past year, eclipsing growth in the unit market (+2.2 per cent for the quarter and +12.9 per cent over the year).
Dwelling price growth to date in this cycle has been much more muted elsewhere, particularly in regional areas.
Some inner suburban housing markets in Brisbane appear to be hotting up, but the Queensland capital city market very much has a two-speed feel to it.
At 11.30am this morning the ABS will release the latest Labour Force data for the month of April 2015.
After an apparently strong result in March the market expects too see only a moderate increase in total employment.