Following on from the latest Property Market Update: House and Unit Growth Disparity Widens, regarding houses in capital cities recording higher growth than units, Onthehouse.com.au has put together a list of 50 suburbs with a disparity between the house and unit market growth during the last quarter.
The list is further evidence of why it is so important to not just prioritise where to invest, but also what type of property to buy.
The subsequent suburbs are all in NSW and Victoria, with some areas having house median values more than double that of their unit counterparts.
The difference in growth was particularly noticeable in the Sydney's prestigious suburbs of Bronte and Kirribilli, where house values jumped by 6.84% and 6.70% respectively over the last quarter. During the same time period, unit median values dopped by 0.29% in Bronte and 0.16% in Kirribilli.
Meanwhile, in the more affordable Victorian suburbs such as Fawkner (12km north of the Melbourne CBD) and Taylors Hill (25km north-west of the Melbourne CBD), there is not a massive difference in values between houses (Fawkner: $475,000, Taylors Hill: $473,000) and units (Fawkner: $339,500, Taylors Hill: $321,000).
However, in both cases, houses performed stronger than units during the last quarter. In Fawkner, houses recorded growth of 6.31% in the last quarter while units dropped 0.69%. Over in Taylors Hill, house values increased by 3.91% while units vales fell 0.56% in the same time period.
Overall, houses in Melbourne experienced a 3.11% increase in median values in the quarter ending March 2015, compared to a
0.08% fall for units. In Sydney, houses and units grew by 3.18% and 2.21% respectively during the same time period.