Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
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.
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Monday, 13 March 2017
Asking rents diverge
Record dwelling construction in Sydney and Melbourne doesn't yet appear to have had much impact on rents in Sydney and Melbourne according to SQM's latest indices.
In Sydney asking rents for houses have moved 4.9 per cent higher over the past year, and have increased by some 31 per cent since mid-2009.
Apartment rents are up by 2.3 per cent over the past year to be 28 per cent higher over the same time period.
Source: SQM Research
The story is similar in Melbourne where house and apartment rents have launched to be 6.8 per cent and 4.1 per cent higher over the past year respectively.
Nationally the inflation figure for rents has been tracking at around two-decade lows, however.
This is largely thanks to weakness in the resources capitals of Perth and Darwin.
In Perth house rents have been trounced to be 22 per cent lower over the past three years, while apartment rents are down by 24 per cent.
House asking rents in Darwin have been through an even tougher patch, crashing 26 per cent lower in only three years.