Units are proving popular with buyers, with new data revealing record high demand in many suburbs. CoreLogic figures show demand for units in suburbs with desirable lifestyles are on the rise.

More than half (560) of the 994 unit markets analysed by CoreLogic are experiencing record high prices, with average growth of 16% or $108,000 since March last year. Two thirds of those 560 growth markets are in capital cities.

CoreLogic Australia head of research Eliza Owen says while some apartment markets in the inner cities continue to struggle, she expects to see further value increases in other unit markets, particularly those in desirable lifestyle locations.

Owens says the strong growth in house prices in the past year appears to be slowing slightly with the unit market now experiencing uplift. But there are 434 unit markets which have values still below their pre-pandemic levels with the top ten biggest drops all occurring within Greater Melbourne.