Nerida Conisbee

So if you have a look at somewhere like Melbourne CBD, we did see a fall in rents of in excess of 20%.

Places like North Ryde in Sydney, Parramatta saw pretty big drops.

So what we are expecting this year that rents will continue to increase for houses, but we will also see a recovery in those unit rents, which have been particularly problematic for a lot of people that invest in apartments.

Yeah, look, we did have a look at that in our most recent property market update.

So that's available on raywhite.com.

But what we did, we had a look at what's been happening to house prices and unit prices.

And in some areas now, very desirable areas, getting into the apartment market is actually quite affordable.

So some really good examples include places like Hawthorne,

In Melbourne, you know, trying to buy a house in Hawthorne is pretty much well and truly out of reach for most first home buyers.

But head into an apartment and you can get an apartment for around $600,000.

So, you know, that's certainly in first home buyer territory.

Even places like New Farm in Brisbane, you know, again, buying a house is pretty much out of reach.

An apartment is well under $700,000.

And across in Sydney, Mossman in Sydney, buying a house is sitting at about $4.5 million median.

Yeah.

You know, you can certainly buy a unit for under a million dollars.

So, you know, I think it is an important shift.

I think first-home buyers do need to make if they want the amenity of some of our most expensive suburbs.

And I think for first-home buyers, you know, there's always that trade-off.

Do you go further out?