Business
Unit prices fall in many city suburbs amid house-led real estate boom – ABC News
While Australia’s property market is booming overall, apartments in certain big cities are lagging well behind, and still haven’t recovered from their COVID-19…
Despite house prices rising at their fastest pace in 32 years, apartments in Australia’s most oversupplied cities aren’t getting as much love from buyers.
Key points:
- Some parts of Sydney and Melbourne have seen a big drop in unit prices
- An oversupply of apartments, closed international borders and lower rents are behind the price falls
- House prices have risen 7.4pc in the past year much faster than unit prices (+2.3pc)
In some areas, unit prices have tumbled in the past year and still haven’t recovered…
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