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

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

Thursday, 20 July 2017

Sydney unit prices & rents accelerate

Rents & prices rise

Sydney's median house price rose by +1.6 per cent to a record high of $1,178,417 in the June 2017 quarter, according to Domain Group's latest release.

Apartment prices rose much faster, up by a ripping +3.2 per cent to a fresh record high of $757,991, as affordability bites on the detached housing market.

The median apartment price has increased from $359,853 in March 2007. 

Unit rents also jumped from $530/week to $550/week, to now match the median rental for a house in the harbour city.

Over the same period house rents have only increased by +10 per cent to $550/week.

Although this may seem illogical, generally speaking more units are located close to the city than houses. 

Sydney's apartment rents have surged +22 per cent higher from $450/week in March 2012. 

There's a rather different dynamic underway in Brisbane's new apartment market, as I discussed with Domain here (or click image below).