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Melbourne house price growth outstrips units

By Matt Hurlston

Deciding what type of Malvern real estate to buy isn't always easy, but analysis of the market by RP Data housing specialist Robert Larocca could help you make the decision.

He revealed that house price value growth has increased much more than it has for units, suggesting the latter could be a better option if you're entering the market for the first time.

Figures from the RP Data – Rismark Home Value Index show house prices increased in value by 12.2 per cent – much higher than the 6.8 per cent growth recorded for units.

In April this year, the value of a unit was about 70 per cent of that of a house, so you're likely to get more real estate for your money if you choose a unit.

Units have also become more popular with buyers in Melbourne, as they now make up around 34 per cent of all sales, up from 28 per cent back in 1995.

While this might not be a massive rise, it still points to the fact more people can see themselves living in units.

Got your sights set on units in Malvern East? Get in touch with Matt Hurlston at Ray White Carnegie for help with your new investment.

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