Apparently Units are gaining in market share based on a shift in the Australian family model.
The Australian Dream used to equate to owning a modest suburban house, equipped with a barbecue and garden. Inside was the typical nuclear family.
Highlights:
What to buy:
In Sydney, Brisbane and Canberra, units showed positive 12 month growth in median value up to February this year, compared to negative growth for house median values. Only Perth showed a drop in unit values over that 12 month period, down 8.31%, although house prices also fell there significantly by 6.82%.
Where to buy:
Investors should always try to stay within a 2-12 km radius of the city centre, says Monique Wakelin, director of the Wakelin Property Advisory.
What not to buy:
There are, however, areas where demand is not so strong. For one, stay away from high-rise apartments, particularly in areas of overdevelopment such as the Gold Coast, the Sydney CBD or the Docklands in Melbourne, say experts.
Best BUYS:
1. Carlton, VIC
2. Albion, QLD
3. Kelvin Grove
4. Chippendale
5. Woolner, NT
6. Mawson Lakes, SA
Where demand is down:
1. Surfers Paradise, QLD
2. Noosa Heads, QLD
3. Darling Point, NSW
4. Bicton/Attadale, WA
5. Byron Bay, NSW
More at Your Investment Property. Enjoy.
The Australian Dream used to equate to owning a modest suburban house, equipped with a barbecue and garden. Inside was the typical nuclear family.
Highlights:
What to buy:
In Sydney, Brisbane and Canberra, units showed positive 12 month growth in median value up to February this year, compared to negative growth for house median values. Only Perth showed a drop in unit values over that 12 month period, down 8.31%, although house prices also fell there significantly by 6.82%.
Where to buy:
Investors should always try to stay within a 2-12 km radius of the city centre, says Monique Wakelin, director of the Wakelin Property Advisory.
What not to buy:
There are, however, areas where demand is not so strong. For one, stay away from high-rise apartments, particularly in areas of overdevelopment such as the Gold Coast, the Sydney CBD or the Docklands in Melbourne, say experts.
Best BUYS:
1. Carlton, VIC
2. Albion, QLD
3. Kelvin Grove
4. Chippendale
5. Woolner, NT
6. Mawson Lakes, SA
Where demand is down:
1. Surfers Paradise, QLD
2. Noosa Heads, QLD
3. Darling Point, NSW
4. Bicton/Attadale, WA
5. Byron Bay, NSW
More at Your Investment Property. Enjoy.
