Unit market continues to outperform house market

Evidence continues to mount that units could become a better investment in the future than houses.

The RP Data-Rismark Home Value Index for June was released last week and it indicated that:

• over the last five years units have recorded average annual value growth of 7.4% compared to 7.1% for houses.
• the superior performance of units compared to houses is quite a new phenomenon as over the last 10 years the average annual value growth of houses (9.9%) has well and truly outperformed units (8.0%).
• over the 12 months to June 2010, unit values have increased by 11.4% compared to growth of 10.2% for houses.
• on a month-to-month basis, annual value growth for units has been outstripping that of houses fairly consistently since April 2008.

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