The Gap Between Unit and House Prices is Closing

 

 

 

 

The rental market for units has outperformed that of houses during the year to September, according to Australian Property Monitors (APM).

Nationally median rents for houses fell by 0.2 per cent while unit rents rose 1.1 per cent, according to AMP’s Rental Price Series Quarterly Report.

Median rents for apartments is approaching parity with houses in most capital cities. In, Melbourne the median rent for units is $350 (houses $360), in Sydney $460 (houses $495), in Brisbane $360 (houses $370), in Perth  $370 (houses $380) and in Canberra $430 (houses $465).

“Annual figures show unit rental prices have increased at a significantly greater rate in most capital cities compared to houses,” according to APM senior economist, Dr Andrew Wilson.

Read more: http://www.news.com.au/money/property/units-almost-as-expensive-as-houses/story-e6frfmd0-1226165771251#ixzz1bB3ACUyz

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