|Houses Outperform Units On Growth |
Houses have gained an average of 5.5% each year compared with 3.1% for units since the time of purchase, shows a new survey by consultancy firm Suburbtrends.An analysis of 4,500 residential properties listed for sale across the country as of August 31 shows that houses are outperforming units.“The result shows the benefits of buying houses over units,” says Suburbtrends director Kent Lardner.“I expect the profit gap between units and houses to widen over the coming months due to rising demand for houses and buyers continuing to avoid units.”
In NSW, house prices rose by an average of 8% each year compared with 5% for units.Queensland house prices increased by an average of 5% each year compared with 2% for units. In South Australia, the figures were 4% and 2%, respectively.In Western Australia, houses outperformed units by five to one. Houses had three times the growth of units in the ACT and twice the growth in Victoria.