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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Sunday, 20 March 2016

Inner Sydney market tightens again

While there is an oversupply of apartments in some Sydney hubs, such as Parramatta, the inner ring market remains in good nick. 

The latest REINSW survey recorded inner Sydney vacancy rates tightening to just 1.3 per cent, which is the lowest level in two years. 

In December, the REINSW had reported inner Sydney vacancy rates tightening from 2.1 per cent to 1.8 per cent. 

SQM Research's asking rents index for Sydney shows apartment rents rising by around 5 per cent over the last year to exactly $500/week.

Source: SQM Research

The main driver is strong population growth in Sydney, and a high level of demand to live close to the city. 

With the clampdown on investors and vacancy rates at two year lows, inner Sydney rents look all set to rise further.

Despite a considerably greater volume of pre-Easter auctions Sydney recorded a very high preliminary auction clearance rate of 76 per cent. 

A glance through the data suggests that the Hills District and some western suburbs didn't fare quite so well, dragging down the city averages.