If there’s one iron clad truth in property, it’s that land values appreciate while structures depreciate.
This is certainly the case in both Melbourne and Sydney, where high-rise apartment value growth has badly lagged detached house growth over the past decade, according to new research from propertyology. From The Age:
Analysis by Propertyology, a company that researches property markets on behalf of investors, shows that while house prices in Melbourne grew on average by 91 per cent over the 10 years to May 31 this year, prices of apartments in most suburbs dominated by high-rise unit blocks have risen by less than half of that
