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).

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 is 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 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'.

"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 of the world's most popular & widely-read financial publications.

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

Tuesday, 18 October 2016

Vacancies up slightly year-on-year

Nudge higher

SQM Research reported that year-on-year vacancy rates are slightly higher.

Sydney and Melbourne reported vacancy rates of 1.8 per cent and 2 per cent respectively.

In Brisbane, where there is still a significant pipeline of inner city apartments set to hit the market, vacancy rates are 2.9 per cent. 

Perth's vacancy rate was steady from the previous month at 5 per cent, while the Darwin market appears to be have steadily improved with vacancy rates at 3.1 per cent. 

The tightest markets are Hobart (0.6 per cent) and Canberra (1.1 per cent), and asking rents have increased accordingly in these cities. 

Smoothing the data shows that over the past year vacancy rates have been relatively flat in Sydney and Melbourne, but vacancies have generally been elevated in the resources states. 

This has been reflected in soft rents in Perth and Darwin.

Despite the apartments pipeline asking rents for units are higher year-on-year in each of the three most populous cities, particularly in Sydney (+4.4 per cent) and Melbourne (+5.1 per cent) as the new stock comes online. 

Concluded SQM Research:

"Looking forward, vacancies are likely to rise in Melbourne, Brisbane and Sydney over 2017 as more new high-rise apartment developments come onto the market. 

However, we maintain that the oversupply issue appears to be constrained to concentrated areas such as the inner-city regions. 

We are not as confident we will see a contagion affect where the whole capital city market is affected."