This week, we released our first ever HYECORP Apartment/House Price Relativity Index. After months of gathering research we have found plenty of good news for first home-buyers and investors. The index assesses how affordable apartment living is by comparing it to house prices, over the past 10 years. 

Given HYECORP has spent last 12 months acquiring several apartment projects in Lane Cove, we thought it appropriate to start our research by focusing on Lane Cove.

Our research shows that at the start of last decade the average apartment sale price in Lane Cove was 57% of the cost of a house. Today, ten years later, the average cost of an apartment is only 42% of the costs of a house. The average across the entire lower North Shore of Sydney showed similar results with apartments being 54% of the costs of a house today, compared to 65% ten years ago.

This goes a long way when considered in the context of recent housing affordability commentary. Although researchers and economists are divided in the housing affordability argument, one thing is evident, apartments are clearly still very much an affordable lifestyle.

We are also hearing this on the ground when talking to purchasers of our apartments, whether they be investors, owner-occupiers or first-home buyers.

We will be releasing more results from our findings soon.

Stephen