• Daniel Hooper

Kedron and Surrounding Suburbs Weekly Market Update⁠ 01.04.22

Weekly Property Wrap Up by Daniel Hooper of One Percent Property




1st of April 2022

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Daniel - 0424 585 391⁠

Hi, this is Daniel Hooper from One Percent Property coming to you with your Weekly Market Update for Kedron, Gordon Park and the surrounding suburbs on Friday, the 1st of April 2022.

I cannot believe we're already past the first quarter of the year, things are moving so quickly and obviously, it is still a very exciting time for Brisbane property. Although, not so much the rest of the country. So in Queensland, we had 1,531 sales in the last seven days, up there with as many as we've had in recent weeks and months. 79% auction clearance rate, up on 75% this time last year. And just a note that Melbourne and Sydney's auction clearance rate over the last weekend was 66%. I don't really recall any time in my life that Brisbane has had higher auction clearance rates than Melbourne and Sydney. So that just shows how strong our market is at the moment. Some results in the inner north, we had 20 sales over the last seven days. It's not a huge amount, but still some really, really good results.

  • 9 Gordon Street, that's a three-bed, two-bath townhouse. Actually, just up the road from my office and my home. That sold for $1.2 million. Now that is a big price for a three bedroom townhouse. Very, very big price.

  • 30/14th Avenue in Kedron. That's a renovator, potentially knock down. I haven't checked whether it's character home. On a big block: 961 square meters, $1.41 million. That's a really good result as well. It's one of the only streets on 14th Avenue that doesn't flood. So that's quite unique.

  • 18 View Street in Kedron, very basic low set brick home. Three-bed, two-bath, 625 square meters. That sold for 1.2.

  • And another really, really big result out of Wavell Heights this week: 24 Westwood Street. It is a 1057 square meter block of land. Obviously, has subdivision development opportunities, but $2.365 million for a block of land. Now that is a big price and obviously, fantastic news for homeowners in the area.

In the media this week, Brisbane ended March up at 1.9%. So that's a price gain of just under 2%, pretty much on par with a month before. 6.3% so far in 2022. And just to put that in comparison, Sydney is 0.3% up so far this year, Melbourne is 0.2% up so far this year and Brisbane is over 6% up. So we are still very, very much on the rise and we are the strongest property market in Australia at the moment. We're still 24.5% undersupplied. So most other cities are approaching equilibrium. Sydney and Melbourne are oversupplied. Brisbane is well, and truly undersupplied on the number of properties we have on the market, while that is the case, prices will go up.

At One Percent this week, it's been another fantastic week:

  • 31 Ramsey Street in Kedron, that one sold and settled, it is done.

  • Yesterday, 269 Kitchener Road in Stafford. That one is also sold and settled. That was a very interesting campaign. It was on the market with another agent for about six weeks, highest offer they could offer was 640,000. We took it off the market, put it back on with my strategy, new photos, and a few other changes. Within three days, we had two offers, probably didn't even make it to the first open home. And we sold it for 789,000 up from the 640 that was offered by the other agent.

  • 23 Akaroa Avenue in Geebung is under offer. The price for that one is a fantastic price. Once it goes unconditional, I'll share that with you, but it was a big price for Geebung.

  • And 8/11 Kingsmill Street in Chermside, that one is going to go under offer today. We've had a couple of offers and I've just got to meet up with a vendor to go through them.

Launched this week, we had 50 Hockings Street in Clayfield. 683 square meter block, low medium res zoning, 30 meters of street frontage. It's an interesting one, very unique, and will suit a unique buyer. That one is open tomorrow morning. And also coming soon, we have 4/47 Haig Street in Gordon Park. It's a two-bed, two-bath, one-car apartment. Very, very well kept. Very clean and tidy. Very good indoor and outdoor space and it's also walking distance to Kedron Brook.

So if you think you might be interested in any of these properties, if you have any questions about any of the things I mentioned in the update, or if you'd like to get a value update on your home, please give me a call 0424 585 391. Otherwise, I hope you've had a fantastic week so far and I hope the weekend is even better.

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