Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 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's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Wednesday, 17 May 2017

Middle-ring Sydney tightest since 2011

Sydney investors pile in

Figures released today showed a resurgence in Sydney investor loans in March, suggesting that buyers are sceptical of a looming oversupply.

Following the Federal Budget APRA has new powers allowing the regulator to target real estate hotspots, and the $6.2 billion of investor loans written for property investors in New South Wales in the month confirmed the reason why they may be needed. 

I'll look at the investor loans figures in a separate post, but first a bit more colour on Sydney vacancy rates.

Figures from SQM Research released yesterday showed Sydney-wide vacancy rates at 1.8 per cent.

Vacancy rates in middle ring Sydney (10 to 25 kilometres radius) fell to just 1.2 per cent in April 2017.

This is the lowest monthly result since March 2011, more than six years ago.

In inner Sydney too, vacancy rates tightened to a remarkably low level of just 1.5 per cent according to the Real Estate Institute of New South Wales (REINSW) survey. 

The monthly numbers are liable to chop around a bit, but the figures I've smoothed below show how inner and middle ring Sydney have remained tight.

In outer Sydney the reported vacancy rate was 2.2 per cent for the third month in the past four.