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.
Wednesday, 18 November 2015
Vacancy rates mixed bag
SQM Research released its latest vacancies and asking rents figures up to October 2015, which showed vacancy rates steady across much of the east coast but rising in the resources capitals.
Reported vacancy rates were steady in Brisbane (2.6 per cent) and Adelaide (1.9 per cent), while Canberra (2.1 per cent) saw a slight decline.
The vacancy rate in Sydney declined to 1.6 per cent, which has been reflected in moderately rising asking rents for houses (+1.9 per cent) and units (+3.1 per cent) over the year, although the rents figures may mask divergent trends at the sub-regional level.
While both Melbourne (2.4 per cent) and Hobart (1.1 per cent) saw vacancy rates ticking up in October, over the past year both have recorded declines, and as such asking rents have been rising solidly in these cities too.
On the other hand vacancy rates rose further still in Perth (3.8 per cent) and Darwin (3.5 per cent).
Asking rents for houses in Darwin have tanked by more than 20 per cent over the past year according to SQM, with Darwin set for a significant price correction.
Asking rents are down for houses in Perth too (-6.4 per cent), albeit by a less dramatic margin.
Perth has reportedly seen the price of premium property fall sharply this year, although prices at the bottom end of the market have not shifted too much to date.
Perth will become an attractive buyers' market again in time, but most data - including the iron ore price which was walloped by another 4.5 per cent overnight to be down by a stonking 76 per cent since 2011 and 36 per cent this calendar year alone - suggests that this time is not yet upon us!