Northern Beaches
CoreLogic's national unit index shows unit values nationally increased for the first time in 11 months, increasing 0.6% over March.
What about the Unit market in Sydney?
Sydney just recorded its strongest month on month growth rate in unit values, being 1% (median value of $776,7800). However it is important to note there is a chance this value increase is a 'false start' in improving values, Kaytlin Ezzy from CoreLogic mentioned "If this month's improvement in values isn't a false start, it's likely we won't see much momentum in the recovery phase until a catalyst for a new growth phase becomes apparent" (Kaytlin Ezz, Economist at CoreLogic).
What does this mean for the Rental Market for Sydney? (units)
The median rent for a unit in Sydney is $648
The Gross Yield for a unit in Sydney is 4.09%
The vacancy rate for a unit in Sydney is 1.0%
From a National perspective, the unit rental market continues to rise at roughly two times the rate of house rent.
Data and statistics derived from CoreLogic's RP Data (Unit Market Update, Kaytlin Ezzy)