--- title: Unit & Apartment Investment Trends description: The latest unit and apartment rental and investment trends for 2024 including Victoria's New Temporary Off-the-Plan Duty Concession image: https://blog.mcpfinancial.com.au/hubfs/apartments%20ss_1359434507.jpg --- [![MCP Financial Services](https://blog.mcpfinancial.com.au/hs-fs/hubfs/MCPFinancial_2022/logo-mcpfinancial.png?width=269&height=121&name=logo-mcpfinancial.png "MCP Financial Services")](https://www.mcpfinancial.com.au/) [![logo-white](https://blog.mcpfinancial.com.au/hubfs/logo-white.svg "logo-white")](https://www.mcpfinancial.com.au) - [ABOUT](https://www.mcpfinancial.com.au/about) - [About MCP Financial](https://www.mcpfinancial.com.au/about) - [Learning & Resources](https://www.mcpfinancial.com.au/about/learning-resources) - [Locations](https://www.mcpfinancial.com.au/about/locations) - [BLOG](https://blog.mcpfinancial.com.au) - [CONTACT](https://www.mcpfinancial.com.au/contact) - [Client Services](https://www.mcpfinancial.com.au/client-services) - 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[Professional Services Firms](https://www.mcpfinancial.com.au/other-professional-services) - [ABOUT](https://www.mcpfinancial.com.au/about) - [About MCP Financial](https://www.mcpfinancial.com.au/about) - [Learning & Resources](https://www.mcpfinancial.com.au/about/learning-resources) - [Locations](https://www.mcpfinancial.com.au/about/locations) 4.11.2024 # Unit & Apartment Investment Trends 2024 Unit News & Insights ![Unit and Apartment Investment Trends 2024](https://blog.mcpfinancial.com.au/hubfs/apartments%20ss_1359434507.jpg) ### Share this article on: - [![Linkedin](https://blog.mcpfinancial.com.au/hubfs/MCPFinancial_2022/sharing-linkedin.svg)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.mcpfinancial.com.au%2Funit-apartment-investment-trends-2024) - [![Email](https://blog.mcpfinancial.com.au/hubfs/MCPFinancial_2022/sharing-email.svg)](mailto:?subject=Check%20out%20https%3A%2F%2Fblog.mcpfinancial.com.au%2Funit-apartment-investment-trends-2024%20&body=Check%20out%20https%3A%2F%2Fblog.mcpfinancial.com.au%2Funit-apartment-investment-trends-2024) Explore the latest unit and apartment rental and investment trends for 2024, including Victoria's New Temporary Off-the-Plan Duty Concession. ```   ``` #### **Increasing Affordability & Yields** The market for Units and Apartments is generally a more affordable option for investors and owner-occupiers alike.  For property investors, many are looking at this segment at different stages to identify any arbitrage in terms of rental yield or capital growth opportunities. In terms of yield, analysis collated by *Suburbtrends* is forecasting an average 27% increase in unit rents across Australia, compared to an 11% increase in housing rents. For capital growth,* PropTrack* is forecasting unit price growth up 2% compared to houses at 1.5%. Across capital cities, there is a material shift in some areas.  In Melbourne, unit price growth is currently outpacing houses by 75%, while Brisbane is close to 80%. In Regional Queensland, unit prices are almost doubling the pace of house growth. So along with more availability, there is potentially a better rental yield and capital growth opportunity for investors in the unit market.  First-home buyer activity is also increasing due to better affordability. With capital growth comes a tightening of yields though, October figures from *CoreLogic *show gross rental yields are under some downward pressure, sitting at 3.47% across the combined capitals.  A timely message to always have discernment when choosing the right investment property.  Is a stronger regular income or the prospect for long term capital growth the underlying priority? #### **Supply & Demand** Part of these results can be attributed to supply restraints.  For example, housing development approvals rates are down 12% from 2022, with rising costs, interest rates and ongoing labour shortages an obvious restriction for new stock. Insights from *Realestate.com.au* show that development approvals for units have dropped more at 23%, an indication that supply will be further impacted in the near term. Apartment developments often incur more planning, construction and insurance costs than housing comparable to the sale price. Therefore, the projects currently being delivered are at the premium end and have higher price points. ![Financing for units tips](https://blog.mcpfinancial.com.au/hs-fs/hubfs/shutterstock_2463508591-1.jpg?width=552&height=368&name=shutterstock_2463508591-1.jpg) #### **Borrowing Prospects ** Many Credit Providers are offering attractive rates for financing unit purchases. Though make sure you do your homework or get advice. Some factors to consider include property size, land size, location and density. More[ financing for unit tips ](https://blog.mcpfinancial.com.au/how-to-obtain-financing-for-unit-development)are in this short summary from 2022 with corresponding trends. A reminder that credit providers will add an interest rate buffer of 2-3% when assessing borrowing capacity, which can materially impact affordability. #### **Victoria: New Temporary Off-the-Plan Duty Concession ** Changes to the [existing off-the-plan concession](https://www.sro.vic.gov.au/offtheplan), may mean previously ineligible applicants qualify for a temporary concession for off-the-plan purchases of dwellings. For contracts entered into after 21 October 2024, purchasers can deduct the construction costs incurred on or after the contract date when determining the dutiable value of the property. The temporary concession is available to all purchasers, including investors, companies and trusts, without the requirement to be eligible for either the principal place of residence duty concession or the first home buyer duty exemption or concession. The [Victorian State Revenue Office](https://www.sro.vic.gov.au/land-transfer-duty/temporary-plan-duty-concession) has more information, including FAQs and examples. ![Victoria Temporary Off-the-Plan Duty Concession](https://blog.mcpfinancial.com.au/hs-fs/hubfs/iStock-1210948126.jpg?width=550&height=309&name=iStock-1210948126.jpg) Many see this as the Victorian Government taking overdue action to increase the housing supply. With the [recent changes to land tax in Victoria ](https://blog.mcpfinancial.com.au/australian-property-tax-increases)being a contributor to sliding median property values in comparison with other states, any positive incentives are welcomed. Significantly, investors account for around 32% of total housing finance in Victoria. While this is up from 27% three years ago, the land tax changes have been biting. These changes and the requisite price falls may tempt more investors back into the market in Victoria. More Information? **Contact MCP 1300 510 816 or your Finance Partner [enquiry@mcpfinancial.com.au](mailto:enquiry@mcpfinancial.com.au)** Follow us on [LinkedIn](https://www.linkedin.com/company/16820) *The team at MCP Financial Services has specialised expertise in structuring complex debt arrangements. We can assist with review and restructuring, refinancing and renegotiating.*   ## RELATED ARTICLES ### [Big Trends in Small Second Dwellings](https://blog.mcpfinancial.com.au/small-second-dwellings-and-tiny-homes) Victoria eases permit requirements. A recent Victorian Government update has allowed many small... [READ MORE >](https://blog.mcpfinancial.com.au/small-second-dwellings-and-tiny-homes) ### [Another new Property Tax for Victoria?](https://blog.mcpfinancial.com.au/new-property-tax) Is a new levy or tax in store for Property Developers in Victoria? [READ MORE >](https://blog.mcpfinancial.com.au/new-property-tax) ### [Financing for Unit Developments](https://blog.mcpfinancial.com.au/how-to-obtain-financing-for-unit-development) Units & Apartments are a critical part of the housing and investment property landscape.In recent... 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