Units as expensive as houses

Unit rents are creeping higher and in most capital cities prices are almost as expensive as houses

26 October 2011 7:25pm

Unit rents are creeping higher and in most capital cities prices are almost as expensive as houses.

The rental market for units has outperformed that of houses during the year to September, according to Australian Property Monitors (APM). Nationally median rents for houses fell by 0.2 per cent while unit rents rose 1.1 per cent, according to AMP’s Rental Price Series Quarterly Report.

Median rents for apartments is 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).

Source: news.com.au