• Daniel Hooper

Kedron & Surrounding Suburbs Weekly Market Update 01.04.21

Weekly Property Wrap Up By Daniel Hooper Of One Percent Property⁠⠀⁠⠀⁠⁠ ⁠⠀⁠⠀⁠⁠



1st of April 2021 ⁠⠀⁠⠀⁠⁠

Thinking of selling your home? Sell with Kedron's Agent Of The Year and only pay 1% commission!⁠⠀⁠⠀⁠⁠ ⁠⠀⁠⠀⁠⁠

Call Daniel - 0424 585 391⁠⠀⁠⠀⁠⁠

Hi, this is Daniel from One Percent Property, here with your Weekly Market Update on Thursday, the 1st of April 2021. So, as we come out of this three-day lockdown period, what is going on with our local property market in Kedron and the surrounding suburbs? Well, in Queensland, we had 1,589 sales over the last seven days, which is a really good number. Shows a lot of properties changing hands. 85% auction clearance rate that is compared to 23% this time last year, which is a massive difference. In the inner North area, Kedron, and the surrounding suburbs, we had 27 sales over the last seven days. A couple of notable sales: 74 Gordon Street in Gordon Park. That's a 400 square meter block with a beautiful house on it, that achieved $1.4 million at auction. Also, one at 18 Bradley Avenue in Kedron, which is a little three-bed townhouse there. That one achieved 585, really good to see some great results for townhouses across the Kedron area. And I know there are some really big developments and some beautiful projects coming up that I think are going to push those prices even higher. In the media, this week 12-month growth for Brisbane at the moment is 7.9% across the entire greater Brisbane. Now, a really interesting statistic is that of that 7.9% growth, 4% was in the last three months. So, that just shows how strong our market has been this year. It's been crazy. Half of the growth for the whole year has been in the last three months. And our local suburbs are definitely toeing the line, definitely maintaining the same growth or better than the other suburbs in Brisbane. Kedron is up 8.2% in 12 months, Wavell Heights is up 9%, Gordon Park is up 9%, Stafford Heights 6.2%. And the one that's surprisingly lagging behind a little bit is Stafford. So, Stafford is up 4.8%, which is still really good growth, but just when compared with the exceptional growth in all the other areas, it is lagging a little bit. All good things, however. So as far as new listings and properties on the market, obviously this is a big thing I've been talking about in the last few reports because I believe it's what's causing the hot market is the lack of stock. So, new listings are up 2.8%, month on month, which is a good start. Still down 28% year on year though. So we're still way off getting back to the level of listings, level of properties on the market that we were at a year ago. And until that rectifies, I believe we're going to be in for a very, very hot market for at least the next six months. At One Percent Property this week, 34 Hunter Street, I told you about that last week, had it under contract in a day. Unfortunately, the original contract fell through due to the building and pest inspection, but I was working with James and Josh from PMC Buyers Agents. We managed to get it back under contract in about half an hour, or a new offer on the table anyway on contract in about half an hour. It ended up with a cash unconditional offer. It is now unconditional at $1,225 million. Thank you very much to James and Josh for helping me out there. And it was great to get a deal over the line with you guys. 22 Koolewong Street in Stafford Heights--that one is now under offer. You remember last week we had a few offers sort of toying around. It is now under offer, off-market for a cracking result. Really, really good result for both buyer and seller. And thank you to Darren from Universal Property Buyers for working with me to get that one over the line. We both have very happy clients, both on the buying and the selling side of that deal. So it has been a pleasure to work with you.

Lots of exciting homes coming up. People are sort of taking it a little easy for the next few weeks. And then after the Easter holiday, we've got three or four beautiful homes that we'll be launching across the inner North. So, please stay tuned. If you are looking to buy on that note, or you are looking to sell in the local area, why not work with Kedron's Agent of the Year for 2021. And if you're selling, you'll only pay 1% commission. If you're interested in having a chat about either selling or buying, or you need any other property advice in our local area, please give me a call 0424-585-391.

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