Annual apartment price growth up 2.1% nationally: Realestate.com.au

Unit price growth was up 2.1 percent nationally over the past year with the strongest growth recorded in regional Victoria, according to the latest data from the realestate.com.au website. The national unit median price stands at $500,000. It is at $560,000 across the combined capitals and at $385,000 across Australia's regions. Unit prices were up 0.6 percent national over the quarter, and up 0.1 percent during February, according to the Home Price Report. House price growth of 0.4 percent continued in February to outpace unit growth. Over the last 12 months, national houses price growth sat at 6.9 percent, more than triple that of unit price growth of 2.1 percent. Victoria's regions saw 11.4 percent annual growth for unit values to a $320,000 median price. It was up 2.9 percent quarterly and 0.8 percent in February. Melbourne's unit median sat at $590,000, up 2.3 percent annually. Hobart's unit market was the nation's second strongest in 2020, up 8.3 percent to a $400,000 median. Sydney was the dearest capital for units at at $730,000, up just 0.1 percent over the year, the weakest rise among the capital cities. Brisbane was the second weakest with a rise of 1.5 percent to its $395,000 median. Darwin's median unit price was the cheapest of the capitals at $320,000, followed by Adelaide at $346,750.