first_imgWarren McAleese has bought a unit off the plan at the Grange as have current neighbours Terry and Allison Hayes. Picture: Annette DewHe said there hadn’t been a lot to choose from when he first started looking and there wasn’t a lot of new units being built in the area.“They are few and far between,’’ he said.“I do a lot of bike riding and walking so obviously being along the Brook suits me well,’’ he said.The development ticked all his boxes, except one — it wasn’t close to the train station — but Mr McAleese said that wasn’t a major issue as there was a good bus route through the area.While was buying to live in the area, not as an investment, McAleese agreed it was good to know that such properties were growing in value in the area. Warren McAleese has bought a unit off the plan at the Grange. Picture: Annette DewWHILE much of the news about the Brisbane unit market can seem like doom and gloom, there are still suburbs where the market is taking off.The suburb where units and townhouses sell the fastest was Ferny Grove, where it took an average of just 23 days to sell. Deals were also done quickly in Wakerley where it took an average of 29 days and Keperra which had an average of 37 days.The top three suburbs for unit and townhouse price growth were Bethania where the median unit value was now $279,736 — up 35.2 per cent on the same time last year, Beachmere which had a median of $189,791 up 25.9 per cent and Grange, $472,984 which was up 14.7 per cent.CoreLogic analyst Cameron Kusher said while much of the news about the new unit market in Brisbane was worrying, there were a few suburbs where they were performing really well.“It is not a huge amount when you compare it to houses, but if you look in Brisbane some of those Logan City areas where obviously there hasn’t been a lot of new supply, generally really low price, pretty high rental yields. Some of those markets have seen a big push higher in unit values,’’ he said.“And then the Grange obviously again, no real new supply in that market, pretty cheap for an inner city area as well.’’Mr Kusher said existing unit markets with older stock were performing better than those where a lot of new stock was coming on line.He said it was still a concern in those areas with a lot of new development that unit values could continue to drop.“I definitely think what you want in a housing market is scarcity and these areas the units are not necessarily going to be modern and have all the bells and whistles but in a lot of instances they are a lot larger in terms of size and there is not a lot of competing stock in these markets.’’More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoWarren McAleese spent about two years looking for the right unit or townhouse to downsize to before finally committing to a new project at the Grange.The Grange Residences are being built on a site alongside Kedron Brook which was once home to the Crushers Leagues Club.Mr McAleese’s current neighbours Terry and Alison Hayes had also bought into the project.last_img