According to the latest rental report from Australian Property Monitors, Apartments are starting to challenge stand-alone houses for interest by property consumers.
As more and more buyers and renters decide apartment living is for them, the old dream of the quarter acre block is fading fast and that challenges the long-standing consideration that traditional land value and home values will increase, providing long-term financial security.
The median rent for apartments and houses in Melbourne is now $360 a week and in Sydney there is still a gap but it is much smaller. What is becoming evident is that a house and a unit can command the same rent.
There has been a 25% increase in the construction of new units Australia wide and this year new construction will represent 40% as units for the first time.
With younger buyers buying and renting closer to the city to enjoy lifestyle choices, developments in outer suburbs are not as attractive as they once were as younger buyers prefer the low maintenance lifestyle that is offered by inner-city dwelling.
In Brisbane houses cost 33% more than units but the rental differential is only 4%.
So at My Self Storage Glen Waverley we have the solution. Rent a Self Storage space and store your excess stuff with us!
Rent that apartment or unit close to work but don’t miss out on the good things in life, buy a jet ski, motorbike, skis, quad bike, BMW, or train set, we don’t mind, we have a Storage Space to suit them all and just about any other item you can dream up! Ask us for details!