• Daniel Hooper

Kedron and Surrounding Suburbs Weekly Market Update⁠ 21.01.22

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 on Friday the 21st of January 2022. So what has been going on across our state in beautiful Kedron and surrounding suburbs, in beautiful Brisbane, obviously beautiful Queensland, in the last seven days? Well, I can say well and truly that the market has picked back up, we're back at pre-Christmas numbers. We've got 1,516 sales across the state in the last seven days, which is a really healthy number for this early in January. 80% auction clearance rate. It was 61% this time last year so that shows obviously still very, very strong in the Brisbane market. A few notable sales in the local area:

  • 37 Buddina Street, there's a townhouse in Stafford sold for 762,000—which is a very, very healthy number for a fairly average townhouse in Stafford.

  • 20 Crawford Avenue in Stafford also. It's a three bedroom, one bath home, semi-renovated on 405 square meters, property sold for 980,000.

  • And then I'll compare that to 100 Farrant Street in Stafford Heights. So a renovated three-bed, one-bath. It's on 645 square meters, as opposed to the one in Stafford that's on 405. Whereas 100 Farrant Street sold for 800 on 645 square meters, fully renovated and 20 Crawford Avenue sold for 980. So an extra $180,000.

Now this is a really good illustration for me with the value of a real estate agent, because Farrant Street was a for-sale-by-owner (FSBO) property. Now, when you have a for-sale-by-owner property, even in a hot market—in a hot market I always say this to my clients, my job as a real estate agent is not to sell your home because it will sell. No doubt about that. My job is to get you far more money than you thought you were going to get. A good example of this is a property we sold last year on Scott Street in Kedron. The owner wanted 1.3 million. I sold it on the first weekend for 1.47. So you could probably summate or put forward that if he'd sold that property himself, he probably would've accepted the offer at 1.3, that came through on the first day and may have missed out on $170,000 for the sake of saving a fairly small commission in comparison. In the media this week, Brisbane is still continuing to fire all cylinders. The growth over the whole property market so far this month has been 2.8%. In the housing market, it's been 3.2%, which is pretty much our strongest month we've had so far. Stock under supply is still 31%, which again, that's the lowest supply we've had all year, including sorry, the last 12 months.

Which means it is still a fantastic time to be considering selling because when there are no properties and there are lots of buyers, that is the best possible time to get an exceptional price for your house. It puts all the negotiating power in the seller's pocket. And it is a very, very good time to be thinking about putting your property on the market.

At One Percent this week, it has been a slower week. I had surgery in December, so I had pretty much most of that month off and then had a week back and then this week we've actually been caught up with COVID. So my wife and I have been isolating and doing as much as we can from the home office. Having said that we did launch four properties in January. Of those four properties, three of them were sold in the first week. 152 Leckie Road went under contract on Monday, which was the seventh day of ever being on the market. We had three offers. It was a very, very good price and very, very happy vendors. So it's good to see that one through.

We've still got a couple more that are coming up and that are on the market, a few apartments and a few very, very exciting houses. So if you are looking for property in the area, please give me a call. Otherwise, I hope you've had a fantastic week so far, and I hope the weekend is even better.

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