• Daniel Hooper

Kedron and Surrounding Suburbs Weekly Market Update⁠ 08.04.22

Weekly Property Wrap Up by Daniel Hooper of One Percent Property




8th 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 and surrounding suburbs, on Friday, the 8th of April, 2022. It's been another solid week in property in our local area. There were 1,458 sales in Queensland, an auction clearance rate of 78%. That is slightly higher than last year. The exact figure from last year, I'm not sure as the online portals haven't been updated. But I know it was a little lower than it is at the moment, but very much on par. In the inner north, we had 37 sales, which is a big number. We've been averaging the early twenties, so 37 is a solid number. Some notable sales:

  • 159 Stafford Road in Kedron. That is a block of units, six units. It sold for just under $2 million.

  • 26 Khartoum Street in Gordon Park, four bed home on 405 square meters, 1.525, and also

  • 66 Gordon Street in Gordon Park. It's a four-bed home, 600 square meters, two street frontages between Gordon and Rose, and it sold for 1.975, which is a really, really good result. It's obviously very, very positive for homeowners in the local area.

In the media this week, we were up 0.5% last week, as far as price goes, 1.9% in March, and around 30% for the last 12 months. So price at the current point in time in Brisbane is not slowing down. No indication the price is slowing down just yet. Having said that, the undersupply, so when you look at the five year average of how many properties are on the market at any given time, in January, we were 30% below that mark. We're now 21% below that mark. So it is easing. When the undersupply reaches equilibrium or goes above, into oversupply, there'll be more properties on the market to every buyer. And that obviously means pricing will slow down. It's already happened in Sydney and Melbourne and most of the other capital cities in Australia. Obviously, it is something that is going to happen in Brisbane. It's inevitable. It's just trying to gauge when that is going to happen. At One Percent Property, this week, it's been another big week.

  • We had 4/9 Railway Parade in Nundah—that is sold and settled. Contracts went through without a hitch, so I was very happy with that.

  • 52 at 71 Stanley Street in Brendale, a little bit outside of the area, but sold that in a couple of weeks, and it is now sold and settled.

  • 7/17 Gordon Parade in Everton Park is under offer. That one took a couple of weeks to get the right buyer, but we got a fantastic price—record price for that building, and for that sort of apartment in that area. Very happy vendor and very happy buyer.

  • Also, 50 Hockings Street, we launched last week. We've had a number of inspections. We've got a number of interested parties, and we have had an offer accepted today. Can't reveal the price just yet as we need a final signature on the contract tomorrow, but it is an unconditional offer, so very, very happy on both sides.

  • 4/47 Haig Street here in Gordon Park. That property is a fantastic two bedroom apartment. It launched on Monday. We've had a lot of interest. We have our first open home tomorrow, so I'm sure we'll get a lot of interest, and that will move pretty quickly.

  • And 54 North Street in Kedron, that is a new listing we signed this week. It will be launching not next week, but the week after next, as we need to get photos and everything. Already had a lot of interest in that property off market. And I'm sure it'll move very, very quickly.

If you have any questions about the local market around Kedron, Gordon Park or the surrounding area, if you have any other questions about property that I might be able to be of assistance with, 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 had a fantastic week and I hope your weekend is even better.

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