Buyers are continuing to prioritise affordability, which is driving significant price growth in the unit market, according to PropTrack’s January 2025 Home Price Index.

Over the past 12 months, median unit prices have risen faster than house prices in Brisbane and Perth, while in Adelaide, they have risen similarly across both asset types.

In Perth, unit prices increased by 18.8%, outpacing house prices, which rose by 17.5%. In Brisbane, unit prices climbed 15.4%, while house prices saw a 10.6% increase.

In Adelaide, unit prices rose by 13.1%, slightly behind the 13.6% growth in house prices.

Even in Melbourne, where both the house and unit markets saw declines, units outperformed houses.

The median unit price dropped by 1.6%, compared to a 2.7% decrease in the house market.

Senior Economist Anne Flaherty attributes the strong demand and rising prices to buyers’ ongoing focus on affordability, with the most notable growth seen in Brisbane, Adelaide, and Perth.

CoreLogic’s research director, Tim Lawless, highlights that the most affordable segments of capital city markets experienced the highest value growth in 2024.