The best (and worst) unit markets

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While houses generally outperform units, there are always exceptions to the rules.

The list below compiled from the latest stats from CoreLogic RP Data shows that some unit markets have gained up to 50% during the past 12 months.

Suburbs near the capital cities, such as Ultimo in Sydney and Leabrook in Adelaide, led the top performers.

Some regional markets also showed impressive gains, such as the coastal towns of Bargara (QLD), Rye (VIC) and Rainbow Beach (QLD), which saw values soaring by up to 42%.

In contrast, some mining towns and premium suburbs near the capital cities suffered during the same period.

Units in Bowen (QLD) lost nearly half of their values during the past 12 months, while units in inner city suburbs such as Point Piper (NSW) and Hackett saw values plunged by 44% and 37% respectively.

The disparity in performance has once again highlighted the need for thorough research and due diligence when buying units.

Make sure you check the level of supply, both proposed and underway in an area you’re thinking of investing in.

Assess the growth and demand drivers in the area over the medium to long term and crunch your numbers carefully before committing.

The best performing unit markets
 
State Suburb Median Price 12 month Growth Average GPO Distance
NSW ULTIMO  $         480,000 50% 2
SA LEABROOK  $          520,000 48% 5
QLD BARGARA  $          370,000 42% 253
SA MITCHAM  $          492,000 42% 6
NSW BERMAGUI  $          299,500 41% 252
QLD EAST TOOWOOMBA  $          346,000 41% 83
SA SMITHFIELD PLAINS  $          182,500 40% 26
VIC ASHBURTON  $          914,000 40% 12
VIC RYE  $          444,500 39% 63
QLD YATALA  $          312,500 39% 36
QLD RAINBOW BEACH  $          441,250 38% 174
NSW SOLDIERS POINT  $          502,500 38% 120
VIC CAULFIELD EAST  $          550,000 38% 10
VIC KOOYONG  $          975,000 37% 6
ACT LYONS  $          512,650 37% 7
QLD DRAYTON  $          299,250 37% 32
VIC RINGWOOD NORTH  $          595,000 37% 24
VIC GEELONG WEST  $          365,000 36% 64
QLD CRANBROOK  $          230,500 36% 1108
NSW ASQUITH  $          776,400 35% 13
NSW CARRINGTON  $          580,000 35% 75
Source: CoreLogic RP Data

The worst performing unit markets
 

State Suburb Median Price 12 month Growth Average GPO Distance
QLD BOWEN  $          200,000 -49% 933
QLD NELLY BAY  $          157,500 -44% 1116
NSW POINT PIPER  $       1,812,500 -44% 4
QLD SOUTH STRADBROKE  $          140,000 -44% 55
QLD DALBY  $          145,000 -40% 97
ACT SCULLIN  $          235,000 -39% 10
ACT HACKETT  $          285,000 -37% 4
WA BROADWATER  $          210,000 -37% 197
SA RENMARK  $             97,500 -37% 213
QLD YAROOMBA  $          392,500 -36% 78
QLD SIPPY DOWNS  $          203,500 -34% 83
SA HYDE PARK  $          456,000 -34% 3
QLD LOGANLEA  $          195,000 -34% 25
SA HENLEY BEACH  $          390,750 -31% 9
QLD MACKAY  $          279,800 -30% 675
SA PORT PIRIE SOUTH  $             95,000 -29% 199
NSW SAPPHIRE BEACH  $          228,750 -28% 359
QLD ALBION  $          419,000 -28% 4
SA SAINT GEORGES  $          455,000 -27% 5
NSW METFORD  $          215,000 -27% 128
Source: CoreLogic RP Data
 

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