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 finest 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.
Friday, 17 February 2017
Vacancy rates ease after seasonal spike
Vacancies reverse seasonal spike
Vacancy rates declined in January, after December's seasonal spike, according to SQM Research.
All of the capital cities recorded a drop in January, not unusually for the time of year.
Nationally the vacancy rate of 2.4 per cent was the same as one year previously.
The tightest market was Hobart at 0.7 per cent, the Tasmanian capital recording strong gains in median asking rents, while the highest vacancy rate was in Perth at 4.8 per cent.
Although the figures aren't seasonally adjusted, below I've smoothed them on a 4mMA basis to give some kind of feel for the trend.
Perth and Darwin have continued to record declining rents, while SQM noted that inner city apartments in Brisbane have seen declines of 2.5 to 5 per cent in asking rents, something I can confirm from having witnessed it first-hand.
To date the Sydney and Melbourne apartment markets appear to be holding up better, with the reported vacancy rate in Melbourne actually lower than a year ago, and median asking rents higher in both of the most populous capital cities.
After some truly diabolical declines in dwelling prices ranging anywhere from 50 to 90 per cent in some cases, SQM notes that the bust in some mining towns may now finally be bottoming out.
Vacancy rates are down in a range of resources towns from a year previously.
Source: SQM Research
No, still not a buy, before you ask!