[VIDEO] Kedron & Surrounding Suburbs Weekly Market Update 06.08.2020
Updated: Aug 7
Daniel from One Percent Property here with your weekly market update.
Another really big week in the Brisbane Inner North property market!
Today I discuss:
- How is our market holding up to the pandemic?
- What is happening in local market?
- Why is One Percent Property breaking suburb records?
Do you have any questions or would you like to get an updated value on your home?
Call Daniel - 0424 585 391
Hi Daniel here from One Percent Property with your weekly market update coming to you Thursday the 6th of August 2020. So what has been happening over the last seven days in our local property market? Let me break it down for you.
In Queensland this week, we had 1,154 sales. That is a big result. That is more than pre-COVID. That's the most activity I've seen in probably six months. It's a really, really good sign. It shows that people are buying and selling properties, that properties are moving hands, and it's really good for anyone that owns a home, anyone that is involved in property in our beautiful state. We had an auction clearance rate of 61%. Again, very, very high. Up on last year, which was 47% at this time of the year. So all things are showing a robust property market and showing a real strength in our market despite what's going on in our country and in the world.
We had 21 sales in the inner-north area, which, again, is a fantastic result, lots of activity, lots of properties moving hand. Really, really good things. A couple of notable sales. We had 72 10th Avenue in Kedron sell for $1.2 million. It's a nice little house, but a really, really good result. 24 Kate Street in Alderley, again, it's a little four-bed on 400-odd square meters. That one went for 1.25. Another really great result. And a notable one is 26 Bertrand Street over in Everton Park. So 26 Bertrand Street, five-bed on a 405 square meters, achieved $908,000, which is a really, really strong result, really, really good result for Everton Park.
So I just wanted to pull you back to Kedron, just to talk about Kedron, because obviously, that is Kedron and surrounding suburbs is where I focus, where I know, and obviously, where I love. So Kedron is going from strength to strength at the moment. There are so many buyers that are looking for Kedron. It has all the attractions. It's got the lifestyle of the Kedron [inaudible 00:02:07]. It's very, very close to the city through the tunnel. It really is an attractive suburb, and we're seeing that in the property results.
I have personally sold in the last few months four properties in the little corner pocket where Homebush meets Figgis Street. And the results that I've had from those properties are really quite remarkable, which shows how much strength is in the market. We sold 23B Figgis Street, which is a little block of land 300 square meters. It's a battle-axe block at the back. We got 467,500 for that, which is a suburb record for a small lot in Kedron. We then sold 23A Figgis, which was the house at the front, 330 square meter lot, got 892,000. Suburb record for a house on a small lot in Kedron. We then sold Number 3 at 28 Figgis across the road, which is a nice townhouse, three bedrooms. 658,000 for that one, which is, again, suburb record for a three-bedroom townhouse in Kedron. And this week, we've taken with a cash on conditional offer Number 1 at 28 Figgis Street under contract, unconditional, sold for 390,000, which is a street record for an apartment on Figgis Street in Kedron.
So what you can see from that is that not only are there a lot of buyers in the market. I mean, the property at 3 Number 28 Figgis sold in six days for a suburb record. But buyers are really seeking out these Kedron properties. They're coming in with good offers and things are selling quickly. What an incredible market to be a homeowner and to obviously be selling your property. It's amazing.
So, on that note, if you were interested in getting an update on the value of your property based on these fantastic results we're getting in the area and based on what is happening in the market so you understand what it's actually worth in the current market, please give me a call: 0424-585-391. Otherwise, thank you so much for tuning in. I hope you've had a fantastic week so far, and I hope the second half is even better.