The question comes up all the time: are houses better investments than apartments? There isn’t a simple answer, as each investor will have their own criteria. One way to look at the performance of the different housing types is to compare capital gains over time. Across Empire’s combined capital city index, houses have recorded price growth of 7.8% pa over the past 15 years while unit shave recorded 6% pa capital gain(see chart). Houses have shown a higher rate of capital gain than apartments consistently over the past 10 and five years and over the past 12 months.