The suburbs where apartments now outperform houses
In 34 capital city suburbs, apartment values have grown faster than houses over three years. Almost all of them are within 10 kilometres of a CBD.
Across 1,240 capital city suburbs with sufficient transaction volume, apartment values have grown faster than house values over three years in 34. Thirty-one of those suburbs sit within 10 kilometres of a CBD.
| Suburb | City | Apartments | Houses | Spread |
|---|---|---|---|---|
| Footscray | Melbourne | +14.2% | +6.1% | +8.1pp |
| Woolloongabba | Brisbane | +22.8% | +15.4% | +7.4pp |
| Marrickville | Sydney | +16.1% | +9.8% | +6.3pp |
| Prospect | Adelaide | +18.9% | +13.2% | +5.7pp |
| Northbridge | Perth | +21.4% | +16.3% | +5.1pp |
Source: APD suburb index
What these markets share is not price level but composition: a high proportion of stock built before 2010, limited new completions since 2021, and a rental market tight enough that the yield on an apartment now exceeds the yield on a house by more than a full percentage point.
Sources
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