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'.

Tuesday, 26 May 2015

Inner Sydney vacancy rates fall

Stable vacancies in Sydney

Sydney vacancy rates remained stable in April 2015 according to the Real Estate Institute of New South Wales (REINSW) media release.

Inner Sydney vacancy rates tightened from 1.9 per cent to 1.7 per cent.

And middle ring Sydney suburbs also saw vacancy rates tighten from 2.3 per cent to 2.1 per cent.

This was offset by an increase in vacancy rates on the outer from 1.7 per cent to 2.0 percent.

Generally, the rental market remains fairly tight in Sydney.

As you can see above I haven't quite gotten access to the full data series yet, but I'm working on it (Central Coast and Albury data for recent months are notable absences).

Generally vacancy rates have also tight on the south coast, such as in Wollongong, although vacancies rose 0.8 per cent in the month to 1.8 percent.

There was also a 0.3 per cent increase in the Illawarra to a still very tight 1.3 per cent.

Newcastle and Hunter

There was a large spike in vacancy rates in Newcastle (from 3.4 per cent to 4.6 per cent).

Similarly the Hunter saw a rise from 3.1 per cent to 3.9 per cent.

This reflects job cuts in the region, partly related to coal mining, which have seen unemployment rates heading north of 8 per cent.