Australian Property Market: Houses Surge Ahead Of Apartment Values

It has often been said that houses hold their value more than apartments or units, and new data shows this has overwhelmingly been the case over the past four years.

According to CoreLogic data, the average difference between median capital city house values was just 16.7% at the start of the pandemic in March 2020. By the beginning of 2024 that gap, or house premium as it’s known, had ballooned to 45.2%, which is roughly $293,950.

CoreLogic research director, Tim Lawless, said several factors were behind this out-sized growth in the value of detached dwellings.

To read continue: https://www.forbes.com/advisor/au/personal-finance/property-market-update/