March 2024 Data Analysis - Rising Tide of Unit Rents Closes Gap With Houses in Major Capitals

Rising Tide of Unit Rents Closes Gap With Houses in Major Capitals

Unit rents surge narrows the affordability gap withhouses in Sydney, Melbourne and Brisbane.

In the past year, the rental market in Australia's three major capital cities—Greater Sydney, Greater Melbourne, and Greater Brisbane—has experienced notable trends, particularly in the narrowing gap between house and unit rent medians.

For investors, this shift highlights the growing attractiveness of units as an investment option, particularly in inner-city areas where demand is robust.

The higher rate of rent increase for units suggests a potentially higher yield in the short to medium term, although this must be balanced against factors such as strata fees and the supply of new unit developments.

This report provides our essential analysis of these key trends and offers critical insights into the evolving dynamics of the housing market, with significant implications for both renters and investors.

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