Brighter Buying

Market update: unit price growth reaches 16 year high

by Tiana Toledo, Sales Associate 11 April 2024

For many years houses have reigned supreme in the Brissie property market as units lagged behind thanks to an oversupply of stock, particularly in the inner city.

But as house prices have continued to shatter growth records, units have become a safe haven for value hunters looking to bag a bargain.

This surge in demand has now seen unit growth outpace house price growth for the seventh consecutive quarter, reports Domain.

“Brisbane unit prices continue to break records by achieving another price peak,” says the latest Domain House Price Report.

“Annual gains are the steepest of all the capitals, reaching double-digits to top the city’s fastest increase in almost 16 years (at 14.2 per cent).

“Brisbane units continue to outperform houses for the seventh consecutive quarter and close the gap between the prices.”

So where should a bargain hunter look if you want your property dollars to stretch further?

Well, don’t rule out units yet. While the price gap between houses and units is at a 2.5 year low, houses are still 69 per cent more expensive than units.

Units remain a popular option for buyers looking to secure a foothold in their desired post code without the price tag and maintenance associated with a standalone home. In a market where listings are still historically low, unit buyers are still enjoying a good range of choice in popular middle ring hubs like Chermside and Stafford as well as thriving urban village centres like Nundah and Fortitude Valley / Bowen Hills. And, it’s not impossible to purchase a unit for under $500,000.

Wondering how far your property budget will take you? Contact us for a chat or view our current listings for sale.