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.

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Tuesday, 20 September 2016

Sydney vacancy rates tighten again

Tighter again

If online listings are any guide, the rental market in Sydney has been tightening lately, with fewer rentals being advertised across a high number of suburbs.

According to the REINSW inner Sydney vacancy rates were unchanged in August at 1.9 per cent, but middle ring Sydney tightened by 0.3 per cent to 1.6 per cent, while outer Sydney's vacancy rate of 1.7 per cent was the lowest since November 2015.

Smoothing the figures on a 4mMA basis to nip out a bit of the noise shows that Sydney vacancy rates have been fairly flat over the past year in the middle and outer ring, but are some way tighter in the inner suburbs.

The vacancy rate in Newcastle has sneaked back up to 3 per cent.

The Tenants' Union (TU) Rent Tracker found that Sydney unit rents moved 5 per cent higher over the past year, while house rents were 3 per cent higher. 

Rents have moved sharply higher in Randwick and Woollahra over the past year according to the TU, but regional areas have been found to be "much more stable".

The TU believes that the CPI measures understate Sydney's rental price growth. Their long run data also shows Sydney rents rising much faster than inflation.

According to the TU over the last 20 years new rents have generally increased at an average of around 8 per cent across Sydney and 5 per cent across the rest of New South Wales.