Unit values rose 0.8% over August, houses 0.3%: CoreLogic RP Data

Unit values rose 0.8% over August, houses 0.3%: CoreLogic RP Data
Unit values rose 0.8% over August, houses 0.3%: CoreLogic RP Data

Unit values rose 0.8% over August, higher than the rise in house values at 0.3%, according to CoreLogic RP Data's latest Hedonic Home Value Index.

The rolling quarterly rate of growth for units is 6.7%, with detached housing at 5.1%.

CoreLogic RP Data head of research Tim Lawless said over the past three months across every capital city except Melbourne and Brisbane, it has been the apartment sector that has shown the stronger growth result,” he said.

“This result comes at a time when apartment supply has ramped up substantially more than detached housing supply. To see such a broad-based over performance of units relative to houses, provides some comfort for developers and purchasers that higher density stock values are appreciating," he said.

"Since May 2013, dwelling values have risen at a faster pace than weekly rents. The result of the disparity between dwelling values and dwelling rents has been a consistent downwards trend in gross rental yields."

 

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Unit values rose 0.8% over August, houses 0.3%: CoreLogic RP Data

Click to enlarge

Unit values rose 0.8% over August, houses 0.3%: CoreLogic RP Data

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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Housing Market Values

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