Unit price growth outshone by houses: RP Data

Unit price growth outshone by houses: RP Data
Jessie RichardsonNovember 5, 2014

Over the quarter to September, houses performed better than units in the country's capital cities, according to RP Data.

RP Data's Daily Home Values Index recorded 2.3% growth in house values for the three month period, while units increased by a more modest 1.3%.

The house price growth was largely driven by Sydney's 4.5% quarterly increase, but in the unit market, Adelaide was the best performer.

The South Australian capital recorded a 3.1% increase in unit values. Sydney's unit prices increased by 1.7%, pushed out of second place by Melbourne, with 2.2% growth.

Four of the remaining capital cities recorded a value decrease.

Unit prices in the Northern Territory capital dropped by the largest proportion, with a 4.7% dip.

The quarterly unit price figures:

  • Adelaide

Change: +3.1%
Median price: $333,000

Change: +2.2%
Median price: $472,000

  • Sydney

Change: +1.7%
Median price: $590,000

  • Canberra

Change: 1.0%
Median price: $398,500

  • Brisbane

Change: -0.4%
Median price: $380,000

  • Perth

Change: -3.0%
Median price: $450,000

  • Hobart

Change: -3.8%
Median price: $250,000

  • Darwin

Change: -4.7%
Median price: $536,200

Source: RP Data.

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