Where can the average buyer afford to purchase?

Housing affordability remains an issue however, there are still options for the price sensitive purchaser… particularly within the unit market.

Last week’s Property Pulse looked at the average buying power across each state, the proportion of total sales at prices affordable for the average buyer and the council areas with the greatest proportion of sales at or below average prices for houses. This week we take a look at the same analysis for the unit market.

Across Australia’s capital cities the median unit price is currently recorded at $410,000 which is $82,000 more affordable than the median house price. Of course there are far fewer units nationally than houses however, they are in most instances a much more affordable purchase option, especially for price sensitive purchasers with limited funds. They can also offer purchasers the opportunity to live within a location in which they would be unlikely to be able to afford a house. For investors, units also generally provide a more attractive rental yield.

Source: RPData Property Pulse