Investing in the Brisbane Unit Market can be high risk and you need to ensure you buy the right unit to ensure you maximise the returns on the property and reduce the risk of a reduction in value over the coming years.
I classify the Brisbane Unit Market into 3 different types of units that are available on the market right now.
- Standard Design One or Two Bedroom Unit is high-density residential development. These units I consider to be high risk, there are hundreds on the market and they all have the same layout and look. There is nothing special about these units other than their lower price. With so much stock on the market right now and coming to the market in the future, demand will always be low and demand is what drives the return on any property.
- Unique Designed Two Bedroom Units. These are units that are above the Standard Design and have unique features or very good layouts. There are not so many on the market place and prices are slightly higher than the Standard Design.
- Penthouse or High-Quality Unit is a larger unit with a higher quality fit-out and generally views. These units are in a different rating altogether and generally would be purchased by people looking to live in the unit themselves and seek a high-quality property and most likely views of some sort. Lower Risk due to the lower number of units available.
Brisbane units can be classified under two different location.
- Inner City, which are units located within 4 kilometres of the Brisbane CBD
- Outer City, which are units located in the suburbs of Brisbane.
There are thousands of units in the Brisbane region and many of them look the same. If you are going to purchase any property regardless of whether it is a unit, a townhouse or an established property, you need to consider the demand for the property. The higher demand for a property the higher the return and capital growth as well as a reduced vacancy period. This is where finding a unit with special features comes into the equation when searching for the perfect Brisbane Unit to invest in.
Features that I look for in a unit are dual bathrooms, an ensuite for the master bedroom then a second bathroom. Then I go even further to see if the second bedroom has private access to the second bathroom. It’s a rare feature but very attractive to potential tenants and buyers in the future and will ensure your unit stands out from the rest.
Outlook or a view of some sort is also a very strong feature I look for in a unit. A view of the city is always going to be best but even a view of trees or nature and far better than a view of the neighbouring tower units next door.
Secure car parking is a very big feature of any unit purchase, many people are concerned about access to their car and would always prefer to have some form of secure undercover parking.
Public transport access is also very important, in fact, it is more important when applied to features of a unit than when looking for an established house. It is a fact that a higher percentage of people living in units do not have their own car or would prefer to use public transport.