With house prices continuing to grow faster than unit prices in most of the country, buyers have started showing much stronger interest in apartments.
Property portal realestate.com.au analysed email enquiries for March 2021 and March 2022, and found email enquiries for units increased 16.6% over the year while email enquiries for houses fell 4.4%.
A similar story has been playing out in the rental market, where house rents have been growing faster than unit rents.
As the chart shows, between March 2021 and March 2022, average views per listing increased faster for rental units than rental houses in every capital city (except Darwin, where units recorded a smaller decline).
“With offices reopening, students and migrants returning and houses becoming less affordable, we expect demand for units both in the rent and buy market to continue growing throughout the year. This will likely translate to a relative increase in the cost of purchasing a unit compared to houses,” according to the portal. #property #realestate #homeloans