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Unit values in Sydney have remained resilient, while the house segment of the market continues to show signs of weakness. CoreLogic's Monthly Index revealed that unit values rose by 0.2 per cent in November and 0.4 per cent over the past three months, while house values contracted by -0.4 per cent in November and are down -0.8 per cent over the past quarter. Sydney’s median unit value is now $865,000, reflecting a 2.5 per cent increase since the start of the year. Read more about what happened in Sydney’s off the plan apartment market in November. TOGA | Charter Hall | ICD Property | Mirvac | Thirdi Group | Ellipse Property | GWH Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 17,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird 🐦⬛ to keep your finger on the pulse of the apartment and townhouse market.

Demand for attached dwellings is booming across Australia, with many of the nation’s capital cities and key regional centres seeing a surge in unit sales. Two recent reports from Hotspotting—“The New Paradigm in Real Estate: The Rise and Rise of Apartments,” produced in collaboration with Nuestar, and the Spring edition of “The Price Predictor Index”—highlight the growing market share of units. In Greater Sydney, for instance, units now make up 54% of residential sales, up from 48% just three years ago. Perth is also experiencing a shift, as rising house prices push more buyers towards well-located units. Demand is also growing in Melbourne, Brisbane, Canberra, and regional hotspots like the Sunshine Coast and Gold Coast. This trend is driven by lifestyle preferences and the relative affordability of units compared to houses in the same area. As “The New Paradigm” report shows, the old belief that houses outperform units in capital growth is no longer valid. Today, units are holding their own in price growth, while offering lower entry prices and better rental yields.

CBRE’s latest report is out! By the end of 2026, new apartment prices could soar by 23%, driven by low interest rates and a tightening supply. As construction costs continue to rise, the premium for new apartments will grow higher, especially for one, two, and three-bedroom units. Over the next five years, rents are expected to increase by another 25%. If you’re still on the fence about buying, don’t wait! Now’s the time to act—the opportunity to tap into a growing market is too good to pass up!

The Melbourne property market has continued to soften in 2024, with conditions proving challenging for sellers across the city. All dwelling types in Melbourne have experienced negative price growth, signaling a broader downturn that is also impacting Sydney. Despite the ongoing weakness in Melbourne’s property market, factors such as high population growth and a significant supply shortage are prompting many analysts and property experts to question whether the city now presents attractive opportunities for buyers. The median value for units in Melbourne is now $610,000, according to CoreLogic, placing it behind Brisbane, where the median value has risen to $677,000. Read more about what happened in Melbourne’s off the plan apartment market in November. BEULAH | Sunkin Property Group | Samuel Property | DM Property | ICON Developments Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 17,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird 🐦⬛ to keep your finger on the pulse of the apartment and townhouse market.

As Sydney's housing market evolves, is buyer demand shifting? Recent data from Domain reveals a remarkable 94.3% surge in demand for units over the past five years, compared to just a 7.5% rise in new unit listings. Notably, this demand isn’t limited to the CBD. In high-demand areas like Wentworth Point and Rhodes, unit searches make up 58% and 56% of all property searches, respectively. Buyers seem increasingly open to high-density living when it provides access to desirable amenities, such as proximity to the Parramatta River, reflecting a growing acceptance of unit living as an affordable option in Sydney’s market.

Apartment prices in outer Melbourne rose 0.6% over the September quarter to $603,000, according to the Real Estate Institute of Victoria (REIV). This third consecutive quarterly increase takes the median price just $500 shy of the inner-city equivalent. Over the past five years, outer Melbourne apartment prices have increased 18.8%, which is slightly higher than the 18.5% growth of house prices over the same period. The median house price is currently $770,000. REIV chief executive Kelly Ryan says there are many positive signs in outer Melbourne, with reported sales of units and apartments more than doubling (102.4%) from 3,122 to 6,387 over the five years to September. Similarly, house transactions increased by 98.6% to 28,672. “The growth in median apartment and unit prices for outer Melbourne coupled with extremely strong sales volumes highlights the opportunities that exist in the area for homeowners and investors.” She says access to schools, transport, amenities and other lifestyle convenience factors are helping to ensure a positive long-term outlook for this market.

CoreLogic's Monthly Hedonic Index shows another 0.4 per cent gain in the value of units across July, compared to 0.2 per cent in the house market. It's the fourth consecutive month units have outperformed houses according to CoreLogic's Index. While only modest growth compared to the likes of Brisbane (+1.9 per cent) and Perth (+2.1 per cent), Sydney's unit market continues to show resilience despite being the most expensive capital city in an environment of heightened interest rates. Read more about what happened in Sydney’s off the plan apartment market in July. Sekisui House Australia | KELA Building Group Pty Ltd | Princeton Financial Services | Coronation Property | Deicorp | Cbus Property | Positive Investment Enterprise | Toohey Miller Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 17,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird to keep your finger on the pulse of the apartment and townhouse market.

As house prices surge, unit living is gaining traction in Australia's capital cities. Nearly 50% of unit markets remain affordable, compared to just 29.2% for houses, according to PRD’s Affordable and Liveable Property Guide. Brisbane leads the way with 60.3% of its suburbs offering affordable units, even as prices rise. Value hotspots include Spring Hill (units at $480,000) and Broadmeadows in Melbourne (houses at $568,000). Buyers are increasingly compromising on location to secure affordable properties, particularly in Brisbane, where growth and limited new stock create unique challenges. #realestate #eliteagent #eliteagentmag #realestateagent #HousingMarket #PropertyTrends #AffordableLiving

CoreLogic's Monthly Hedonic Index showed the value of Brisbane units, which incorporates both apartments and townhouses, rose 1.9 per cent in July. So far in 2024, units in Brisbane are now 12.8 per cent higher than they started the year, taking the median value from $561,000 to $638,000, surpassing Melbourne and Canberra to become the second most expensive capital city unit market in the country. CoreLogic Research Director, Tim Lawless, said available supply is a key factor explaining the diverse outcomes in housing growth trends. Read more about what happened in Brisbane’s off the plan apartment market in July. Sekisui House Australia | Zen Group | Dusk Group | Kokoda Property Group Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 17,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird to keep your finger on the pulse of the apartment and townhouse market.

After 21 months of gains, the Sydney housing market has finally recorded a drop in values. CoreLogic's Monthly Index showed home values, both units and apartments, declined in October, the first time since January 2023. CoreLogic Research Director Tim Lawless notes, however, that the stronger performance across the more affordable end of the market is a consistent theme across the capital cities. Read more about what happened in the Sydney off the plan apartment market in October. TWT Property Group | Belle Property | Thirdi Group | Phoenix Property Investors | Scion Group | Meriton Group Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 17,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird to keep your finger on the pulse of the apartment and townhouse market.