Something I hadn't expected going into this year, unit values are growing faster than house values across Brisbane this year. Not by a small margin either, and it's the first time in a while units have led rather than trailed the detached house market.
Yield explains a good chunk of it. Units are running gross yields meaningfully ahead of houses right now, and in a market where financing costs, even after three cuts, are still elevated compared to a few years ago, that yield gap matters more to investors making the buy decision than it did back when money was essentially free.
Apartment completions are still nowhere near what the region actually needs, which I'd expect to keep supporting this trend rather than reversing it any time soon.