Apartments Beat Houses in 2007

Apartments were a better investment than houses in 2007, according to data compiled by property researcher RP Data-Rismark.

Across all capital cities, unit values increased by 16.9%, compared to 11.9% for houses. And units still produced a better yield for investors of 4.8%, compared to just under 4% for houses.

The best performing market in 2007 was Adelaide with a 27.3% increase in dwelling value to a median of $375,685. Brisbane, with 22.8% capital growth, and Melbourne, with 19.6% capital growth, were next best.

Sydney was more moderate, with 5.9% increase in the value of houses and 10.7% for units. Perth went backwards thanks to affordability constraints; the median house price fell 1.2% to $506,179.

Looking ahead, Marquette Turner believes that 2008 will be a strong year of growth for residential property.

Simon Turner simon@marquetteturner.com.au

Neutral Bay Apartment For Auction

Enjoy apartment living at its best.

A beautifully renovated 2 bedroom apartment in a quiet, tree lined street, within minutes to transport, plus all the shops, cafes and restaurants that Neutral Bay has to offer.

Situated on the top floor at the rear of a boutique building, the block is only three storey’s high and offers full security, plus a large garage able to house a car with plenty of room for storage.

The perfect place to live in when you want every modern convenience close to you, the property will be auctioned on-site on Saturday 27th October 2007 at 12.15pm. View this property