Business
Unit prices rise in Australia’s ‘international’ cities, despite rental slump – ABC News
Apartment rents have tumbled in parts of Australia’s largest cities – yet prices are rising. Property experts say affordability issues are at play, with the gap…
While property prices are rising almost everywhere you look, apartments in Australia’s two largest cities have under-performed on nearly every measure.
Key points:
- Darwin (+14.3pc) and Perth (+11.7pc) unit rents have surged in the past year
- Sydney (-4.9pc) and Melbourne (-8.2pc) unit rents suffered the biggest falls
- The gap between house and unit prices is widest in Sydney ($357,000), compared to other capitals
Record low interest rates, not as many properties for sale (compared to previous years),…
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