Kedron & Surrounding Suburbs Weekly Market Update 03.09.21
Weekly Property Wrap Up By Daniel Hooper Of One Percent Property⠀⠀ ⠀⠀
2021 KEDRON AGENT OF THE YEAR WINNER (RATEMYAGENT)⠀ ⠀⠀
✅ KEDRON, WAVELL HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS ✅⠀⠀ ⠀⠀
3rd of September 2021
Discover the most expensive and most affordable pockets for houses in your suburb with the link: https://tinyurl.com/uzp5pztj
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Daniel - 0424 585 391⠀
Hi, this is Daniel Hooper from One Percent Property, here with your Weekly Market Update for Kedron and the surrounding suburbs, coming to you on Friday, the 3rd of September 2021. So what has been happening in our beautiful area, in our beautiful state in the last seven days in property? So in Queensland, we had 1,602 sales, which is basically the highest amount we've had in the last, sort of, 18 months and a week, which, obviously, shows it's good news. Lots of properties moving hands. Lots of buyers getting their new homes. Lots of sellers getting the results they need. 75% auction clearance rate, which is up on 49% this time last year. An interesting thing to think about is a number of properties that don't actually officially sell at auction, such as 19 Eleventh Avenue, didn't sell at auction on Saturday, sold on the Monday. So those ones don't actually register as sold in auctions, so that's 75% if you take in...the following couple of days could go up as high as maybe 85 or 90%, which is pretty crazy based on the traditional sort of 30 to 50% that you'd expect in Brisbane. In the Inner North, we had 24 sales. That is a little bit subdued to what we normally have, so a little quieter in our local area this week. A couple of really notable sales:
16 at Gail Street, which is a three-bedroom, one-bath home. A high-set, single level on 407 square meters—sold for 1.207 million dollars, which is a massive price for that style of home.
45 Wayland Street in Stafford. That sold for $1.4 million…$1.4 million plus is becoming a regular thing in Stafford and Stafford Heights, so that's, obviously, for local homeowners, a pretty cool thing. There was a 2.1 million sale last week, the week before, sorry, in Stafford Heights, which is something else.
In the media this week, Brisbane prices are leading the way as far as growth goes. Up 1.8% in August. Up 18.1% in the last 12 months. Total listings are down 29% on the five-year rolling average, and that is going down, so the amount of stock on the market is actually reducing because there are too many buyers for the number of properties being sold. So if you're thinking about selling a house, what better market to sell in than a market where there's not enough properties for the number of buyers? That is eventually going to turn around and there will be too many properties for the number of buyers, at which point it's going to be a much more difficult landscape to sell your property in. The median property price for Brisbane is currently…the median house price, sorry I'll correct myself, is currently up around the $560,000 mark. There are some very, very intelligent analysts that I follow who think that might go up into the mid to high sixes before the end of the year. Which is incredible if that happens. Something quite interesting that I thought you might want to look at, I've included the link at the bottom of the video. This is a price map for Kedron, you can go to that link, put your own suburb in, and you can actually see where the price pockets are. So as expected in Kedron, avenues near the park and around the Padua Mount A. and St. Anthony's, that's where the big prices are happening. But take a look for yourself, go to the link, see where your property sits in comparison to the other areas in your suburb. Very, very interesting tool that realestate.com has put out. At One Percent Property this week, it's been a massive week. We're setting up for a huge September. We've got:
19 Eleventh Avenue, as I said, didn't have a particularly successful auction, didn't sell on the weekend. But then on Monday I had three buyers come through, three offers over 1.5, sold for $1.535, unconditionally auction terms, so it's just amazing how things sort of turn out.
19 Bligh Street is sold and settled, I sold that one prior to auction.
67 Bristol Road is sold, and settled yesterday.
16 Dorrigo Street is coming to auction next Saturday on the 11th. We've got an inspection tomorrow at 10:00 AM, we'll have one on Wednesday night and then we'll have the auction on the weekend. It is a stunning home, very, very unique because it is single level, but it's on 607 square meters. It's got huge bedrooms, it's got incredible bathrooms, some of the best bathrooms that I've ever seen. And it's got a beautiful outlook with city glimpses, so definitely worth coming to take a look. It is a little different to what anything else you would have seen on the market, but it's a stunning home.
58 Mellor Street in Kedron is on the market. Very, very, very high levels of interest in that one, I'm expecting we'll probably sell it this weekend.
We also have six new homes that are coming to market in the next fortnight. So we've got a couple of houses, a couple of apartments, a few townhouses as well. Actually, so it's sort of really spreading it across the board. So let me know what you're looking for, get in touch if you are looking to buy. I might have something coming up that suits you. Otherwise, if you're looking at a value update on your home, please do not hesitate to give me a call. I keep saying this to people, but it's probably worth a lot more than you think it is, if you haven't had a value update in recent years. Otherwise, I hope you had a fantastic week and I hope the weekend is even better.