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Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer.

 
Fri 14 Jun '24 with Rich Harvey Tax Effective Property Investment Strategies
 
 
Fri 24 May '24 with Rich Harvey Granny Flats: Boost Your Yields & Faster Mortgage Repayments
 
 
Fri 3 May '24 with Rich Harvey Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24 with Rich Harvey How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24 with Rich Harvey Why Invest in Melbourne?
 
 
Mon 26 Feb '24 with Rich Harvey Sydney’s Inner West – Hotspots and Outlook for 2024
 

 

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Sydney unit sector makes gains

December 24, 2013 / Written by Rich Harvey

 

While much attention has been focused on Sydney's booming residential house market, investors would be wise to consider activity in the multi-unit market.

According to the Australian Bureau of Statistics (ABS), the trend estimate for total number of dwelling units approved in New South Wales during October increased 1.3 per cent. This number has also risen for 21 months.

Meanwhile, the trend estimate for the number of private sector houses actually fell during the same time period after rising for 18 months, decreasing 0.2 per cent during October.

Urban Taskforce CEO Chris Johnson said in a December 2 media release that apartment approvals in NSW in October reached 2,620, while house approvals only reached 1,684, showing that the Sydney apartment market is "growing dramatically".

The value of multi-unit housing has also mirrored that of traditional properties, rising steadily over the past few months.

"The Sydney housing market recorded strong levels of buyer activity through 2013, with record levels of buyer and seller activity reported during the spring home auction season," stated an Australian Property Monitors report from December 5.

"Sydney's median house price has increased by over 10 percent in 2013 to record-high levels now well over $700,000."

Meanwhile, the same report showed the median price for a unit in Sydney increased to more than $500,000 for the first time ever this year.

For investors seeking a cash flow positive property, apartments, townhomes and other multi-unit properties in Sydney can offer a lot of opportunity.

This is especially true for investors who may have many properties that need looking after and can only devote so much time and attention to a single one, as units are much easier to maintain and manage when compared to traditional houses.
 

The Propertybuyer
Podcast

 
Fri 14 Jun '24
with Rich Harvey
Tax Effective Property Investment Strategies
 
 
Fri 24 May '24
with Rich Harvey
Granny Flats: Boost Your Yields & Faster Mortgage Repayments
 
 
Fri 3 May '24
with Rich Harvey
Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24
with Rich Harvey
How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24
with Rich Harvey
Why Invest in Melbourne?
 
 
Mon 26 Feb '24
with Rich Harvey
Sydney’s Inner West – Hotspots and Outlook for 2024
 

 

Listen to many more
podcasts on our
Podcasts page.