Apartment rents outperform houses

The rental market for apartments has outperformed that of houses during the year to September, according to Australian Property Monitors. The rent for units has been creeping higher and in most capital cities prices are almost as expensive as houses.

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

Median rents for apartments are 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).

Of course with lower prices and higher rents apartments have better yields than houses making them more affordable to finance.

Add to that the fact that well located apartments have comparable rates of capital growth to houses in similar locations and it’s easy to come to the conclusion that apartments make great investments.

If you need any further convincing, please read the following blogs:

icon-podcast-large

Subscribe & don’t miss a single episode of michael yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to michael yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

icon-email-large

Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Avatar for Property Update

About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'Apartment rents outperform houses' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*


facebook
twitter
google
0
linkedin
0
email
Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!