• Daniel Hooper

Kedron and Surrounding Suburbs Weekly Market Update⁠ 13.01.22

Weekly Property Wrap Up by Daniel Hooper of One Percent Property




13th of January 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 the surrounding suburbs on Thursday, the 13th of January, 2022. It's been another fairly slow week in the local area, but that is expected. Obviously, we're still starting to wind up from the Christmas break. So in Queensland, we had 848 sales in the last seven days. There were only a few auctions, but of those that went to auction, we did have an 80% clearance rate, up on around 61% this time last year. A few notable sales in our local area. Again, not a lot of property sold, but there were a couple of notable sales:

  • 16 Tabulam Street in Wavell Heights sold for 1.7 million dollars. It's very common now in Wavell, in Kedron, and surrounding areas to see properties selling up around that $2 million mark. Rewind couple of years ago, and that just wasn't happening at all. So, it's fantastic for homeowners in the local area.

  • Three at 76 Sixth Avenue in Kedron. That one, it is a town house—it sold for 710,000. Again, very good result. You rewind 18 months, and I actually sold a townhouse on Figgis Street for 638, which was, at that point, was a suburb price record. Now we're getting 700s for the older townhouses. Some of the new ones are getting 859 hundred, which is amazing for that segment of the market. And definitely showing a lot of really, really good growth, which, obviously, we're experiencing in the housing side as well.

In the media this week, Brisbane and Adelaide are currently the top performers for the month, as far as growth goes. Brisbane is already up 2.3% so far in January, and we're only at the 13th of the month. So, there's potential that this is going to be the best month we've had in this entire big growth period that we've experienced since the start of last year. So far, we are 28% up for the last 12 months. So again, that is going up, and that's Brisbane as a whole. I'll read you some of the local suburbs and the growth that we've experienced:

  • Kedron's 45% growth;

  • Gordon Park's 44% growth;

  • Stafford's 43% growth;

  • Wavell Heights: 44% growth.

So, the local area is very desirable, and we're getting a lot better growth figures than the rest of Brisbane, which is, obviously very, very positive for local home owners. The stock on market is still down; it's around 29% below average. And that is a key factor that is affecting the growth and obviously causing prices to go up.

At One Percent this week, getting back into the new year, winding things back up:

  • sold and settled at 37 Chigwell Street. That settled today. That one sold for $900,000. It is a two-bedroom home in pretty bad condition, so it was a great price for that property.

  • For sale, at the moment, we have 152 Leckie Road in Kedron. That is a 814 square meter block of land. Partially renovated home. It's a cracker. Really, really good opportunity to get a big block in an area that you don't really have access to blocks like that, normally. We have our first open home this weekend at 10:00 AM.

  • We've got 1588 L'Estrange Terrace in Kelvin Grove. I'm so used to saying Kedron. That one is obviously in a city suburb, cracking location. Very, very convenient. The apartment is large. It's about 30% larger than the other two bedrooms in the complex. It's got two balconies. It is a really good offering, if you're looking for a bigger apartment, still at an affordable price.

  • 409/1 Kingsmill Street in Chermside. That's an entry-level. One bedroom, one bathroom, one car. Walking distance to Westfield Chermside. Walking distance to public transport. Fantastic little entry-level property. Still very clean, very modern. And it's a great buy in the Chermside area.

  • 201 at 50 Lamington Street in Lutwyche. Again, another little entry-level, one bedroom one bath. Very convenient location: walking distance to Kedron Brook, walking distance to shops, obviously walking distance to public transport with a direct route to the city as well.

All those properties are open this weekend. If you have any questions about the properties we have on offer, if you have any questions about the property market, or if you'd like to get an update on the value of your home, based on all this massive growth that we've had over the last 12 months, please give me a call: 0424 585 391.

Otherwise, I hope you've had a fantastic week so far, and I hope the rest of it is even better.

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