Kedron & Surrounding Suburbs Weekly Market Update 06.11.2020
Daniel from One Percent Property here with your weekly property market update.
This week I discuss:
- Lots of big results for the local Inner North area this week
- Everything positive in the media this week!
- One Percent Property update - 8 Malcolm Street is Under Offer
Do you have any questions? Please give me a call - 0424 585 391
Would you like to know what your property is worth in the current market? Follow The Link Below https://www.onepercentproperty.com.au/
Hi, this is Daniel from One Percent Property here with your weekly market update, coming to you a day late on Friday, the 6th of November, 2020. So what has been happening over the last seven days in our beautiful state and in our beautiful area, Kedron and the surrounding suburbs and inner North Brisbane?
So in Queensland over the last seven days, we've had 1,431 sales, which is a fantastic result, shows a lot of properties moving hands, which is great. Auction clearance rate of 52%, which is up on 43% last year. Again, shows some good strength in the market. In the inner north area, we had 30 sales that's in Kedron and the surrounding suburbs, which again shows a lot of properties moving hands and really good market activity. So notable sales in the area, number 33 Murch Street in Everton Park sold for $900,000. It's really great to see a lot of properties now in Everton Park and that area are actually breaking that $900,000 price point. Go back a year and it was very rare to see a property on under 800 square meters that would actually breach that $900,000. So that's good news for the area.
Number three at 233 Gympie Road in Kedron, that's a two bedroom apartment which cracked $364,000. Again, a really, really good result for a two bedroom apartment. And number 34 Wilmington Street in Wooloowin, that one's on 268 square meters block and it cracked more than a million dollars, which is obviously a fantastic result. Congratulations to everyone involved in those fantastic sales, to both buyers and vendors.
In the news this week, everything positive for Brisbane really, same as last week. Prices are up 0.5% for the last 30 days days, which again, shows some good strength in the right direction in the market. And everyone's sort of moving away from the scare that was COVID and moving towards growth into the future, which is what's looking like it's going to happen in our local area.
The number of houses on the market is still significantly down than it was last year, around 20% less houses on the market. So prices are moving up. Buyers are in the market wanting to purchase and there are 20% less properties on the market, which means it is a absolutely fantastic time to be a seller. So if you're thinking about pulling the trigger in the near future, now might be the time to do it before the Christmas madness. At One Percent Property this week, number eight Malcolm street is under offer. It's a fantastic offer. I'm really excited for my vendor. The property next door took 88 days to sell and achieved $900,000. We took 28 days to sell and got significantly more. And I'm excited to let you know that price once the property goes unconditional.
We also launched 5/54 Sixth Avenue, took that one to market on Tuesday, three days in, we already have an offer in the right price range, waiting to see what happens at the open home tomorrow, and I'm expecting that one will go under offer in less than a week, which again illustrates how hot the local market is in Kedron and the surrounding suburbs. It is going crazy. If you would like more information, you'd like to get an update on the value of your property, or you have any questions about what's going on the market, please feel free to give me a call at any time. 0424 585 391.
Number 1/11 White Street. It has also now sold. It is settled, done and dusted. That one sold for 510,000, which is one of the best prices to be achieved by a non-new build townhouse in Everton Park, so congratulations to my vendors Joe and Laura and my buyer Troy. Happy to see everyone really, really satisfied and really happy at the end of that sale.
I'm excited over the coming weeks as well to be announcing a couple of really great new properties that will be coming to the market before Christmas. A couple of houses in Kedron, townhouse in Gaythorne, some really fantastic property, which I'm really, really excited to be working on. I'm really, really excited to help my vendors get the best result there. So stay tuned as they'll be coming up in the next couple of weeks.
Thank you for tuning into this week's property market update. If you would like to get an update of the specific value of your property, based on all of these fantastic sales that are going on in the area, please go to our website linked below www.onepercentproperty.com.au. There's a quick form there, send me a few details about your home and I will get a property report out to you within 24 hours to give you an understanding of exactly where you stand in the current property market. 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.