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Kedron and Surrounding Suburbs Weekly Market Update⁠ 20.05.23

Kedron and Surrounding Suburbs Weekly Market Update

Weekly Property Wrap Up by Daniel Hooper of One Percent Property⁠

RATE MY AGENT 2021 KEDRON AGENT OF THE YEAR WINNER ⁠

REIQ 2021 "RISING STAR REAL ESTATE SALES" FINALIST ⁠

KEDRON, GORDON PARK, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS ⁠⁠⁠

20th of May 2023

Thinking of selling your home? Sell with Kedron's ONLY real estate office and you decide our commission AFTER the sale!⁠

⁠

Daniel - 0424 585 391⁠

[email protected]⁠

www.onepercentproperty.com.au

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Hi, this is Daniel Hooper from One Percent Property coming to you with your Weekly Property Market Update for Kedron, Gordon Park and the surrounding suburbs. It is Saturday the 20th of May.

This week we had 1,144 sales in Queensland and a 48% auction clearance rate, which is about on average what we've been saying over the last few weeks. Not too much of a change there. In the inner North, there were 34 sales. That's a good number. It shows a lot of properties changing hands, which is quite positive and some notable sales again, quite positive prices this week.

So 55 Rose Lane in Gordon Park—that's a small, two-bedroom home on 549 square meters that sold for $1.1 million.

7 East Street in Kedron—that was the big one this week, which was a large five-bed sort of coastal, Hampton-style home on 592 square meters which sold for $2.65 million.

76 Pangeza Street in Stafford Heights—another fantastic result. Five beds, large block, 1,396 square meters. That one sold for 1.65.

So, plenty of big prices this week. And it shows that although the market has definitely, had a downturn over the last 12 months, certainly at the top end, people are still paying a lot of money for properties locally because it is a very, very sought after area.

The general market at the moment, not too much going on. Prices are generally quite flat.  Maybe slightly up over the last few weeks. But nothing that I would say is record-worthy, probably, more just fluctuations. Plenty of macro aspects or or larger scale aspects over the coming weeks and months that, obviously, are potentially, going to affect our prices. The main ones being immigration—looks like their immigration numbers are going to be significantly higher than they have been over the last few years. Especially, obviously, taking into account COVID. So, that will have an effect on property and property prices and, obviously, rates. Some people are, are saying no more. I know Westpac have, sort of, graded in two more rates rises. So, that is obviously going to have a have an effect on the immediate market in the next month or two for sure. And, obviously, the general economic strength and bias sentiment over the coming months is going to have a big effect on the market as well. Personally, I believe we are at or near the bottom. I think things are starting to look a lot more positive. I think it might actually be quite a unique time to sell because there are lots of buyers back out of the market, but not so many vendors. So, I am quite positive for the immediate future and certainly for the long-term future.

At One Percent, a couple of really, really great properties coming up.

So, 24 Carnot Street in Wavell Heights, it's a large executive family home. It's in one of the most sought-after parts of Wavell Heights and it's got a pool, it's got four beds, multiple living spaces and city views. So, it's a very, very good property and that'll be launching this coming week.

40 Felsman Street in Chermside West—four beds, single-level brick home. Large block at the end of a cul de sac. That will also be launching in the next week. And it's a fantastic opportunity if you are looking for a renovated, single-level home.

25/26 Le Geyt Street in Windsor. It's a very clean and tidy, two bed, two-bath apartment. And also we'll be launching in about a fortnight's time.

Plenty more properties coming up. About five or six new homes in the local area that we are going to be launching in the coming month to six weeks.

So, if you are looking for a home, please give me a call. We may have something coming up that might suit you. If you would like to have the conversation about the market or have any questions about your property as well, you can get a hold of me on 0424-585-391. Otherwise, I hope you've had a fantastic week so far and I hope your weekend is even better.