Kedron & Surrounding Suburbs Weekly Market Update 08.04.21
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 ✅⠀⠀ ⠀⠀
8th of April 2021
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Hi, this is Daniel from One Percent Property coming to you with your weekly property market update on Thursday, the 8th of April, 2021. So what has been going on in our beautiful local area, Kedron, and the surrounding suburbs over the last seven days in property? Well, in Queensland, we had 1,328 sales of the last seven days. It is a little lower than we've had in the last few weeks, but still showing good numbers, good properties moving hands, 67% auction clearance rate. Again, that is a bit lower. We've been getting the 80-85% but bear in mind, it was 23% this time last year, and it was the Easter weekend. So a lot of people are not thinking about property. They're thinking about kids, school holidays, camping, and whatever else is going on in their lives. In the inner north area, 36 sales over the last seven days.
Again, that's a really healthy number. So although across Queensland sales have gone down, we're still getting really good numbers in our local area. Couple of notable sales: 54 Eleventh Avenue in Kedron, another beautiful home on the avenues achieving over 1.6, that one got $1.67 million, which is a cracking result and 40 Wade Street in Wavell Heights that achieved $1.525 million. Another really, really good result for Wavell Heights. That pocket of Wavell Heights around Zeehan, Sunny Avenue, Highcrest, Highland street, they're getting some fantastic prices there. It's a really, really exciting area.
In the media this week, the big question, what happened to the fiscal cliff? Did anyone notice that date, the fiscal cliff date came and went without any mention in the media, without any big hoo-hah about it? And the reason is the fiscal cliff was a big thing created in the media to scare you, because if you're scared, you're going to read the news. There was no issue at all with it. And even when it happened, it actually coincided basically with the lockdown in Brisbane. And even with all of that, still no issue. As I said, from the start, I believe our market is very, very strong. I believe it's very affordable compared to other cities in Australia. And I think we're going to be okay moving forward, not just okay, I see a really good period for Brisbane property over the next year or so. On that note, one big thing that I noticed in a few articles I read this week is they're talking about the FOMO. It's massive. So why is that FOMO in the market? Because again, I think I mentioned this last week, but 25 to 30% less properties on the market, 25 to 30% more buyers inquiring on realestate.com. That is a big difference. And that 25 to 30% less properties is actually not just on last year, but it's on the five-year rolling average. So 25 to 30% less properties than the average over the last five years.
So there is not a lot of stock on the market. There are a lot of buyers and that's where the FOMO is coming in and that's why people are paying really high prices and they're doing it really, really quickly. I also read an article this week about the top 15 Brisbane suburbs to keep an eye on or the top 15 Brisbane suburbs for the year, for 2021. And as obviously I'm sure most of us would expect, lots and lots of suburbs in our inner north area that have made that list, Wavell Heights, Stafford, Stafford Heights and Chermside West to name a few. Although Kedron didn't get on the list, basically everything around it did and that shows me, obviously, Kedron is really in that pocket as well. So, really, really good things for our local area and really, really positive things for homeowners. At One Percent Property this week, again, another busy week. We haven't launched a lot of properties, but I've got a lot of things that are coming up in the next couple of weeks, after the school holiday is finished.
So, 75 Showgrounds Drive in Highvale is settling tomorrow. That went through without a hitch. Very, very happy vendors, very, very happy buyers and it was an absolute privilege for me to be able to help Sylvia and Ray sell their home for the first time ever. And I'm just really happy that I was able to get them such a fantastic result, which was close to $100,000 more than they thought they were going to sell the house for. 2 Ainsdale Street in Chermside, now that is also unconditional, that property settles in a couple of weeks. We had a bit of an issue with the finance for that one where we had the first valuation come back with some question marks. So I got involved, got a new broker involved. We managed to get a new valuation. Everything was fine. There was no issues at all.
But it was a little bit of a scare for the owners, but we did get it over the line. And that's the value of obviously me being involved from the start to the finish is that when we run into problems like that, I will make sure that I do everything in my power to get it over the line and get you the result you need. As far as properties coming up, I've got two beautiful new homes coming up in Stafford Heights. We're getting the photos for both of them next week. That will be launching after the school holidays and a beautiful home in Aspley as well. A little further north, but a great area, very, very convenient, near bus stops and shops. That will also be coming in the next couple of weeks, so please keep an eye out for that.
If you are a homeowner in our local area, I'm sure you have been noticing what has been going on. Prices are changing significantly. So if you would like to get an update on what your property is worth now, because it's probably changed a lot in the last three months, please give me a call. I'd be happy to pop out, give you an obligation-free update. My number is 0424 585 391. I'd be happy to answer any questions and give you all the information you need, obviously totally obligation-free. If you would like to just get an update just for peace of mind, whether you want to update your insurance, you might want to have the price just for any other reason, I'd be happy to do that service for you. So, otherwise, I really thank you for tuning in. I hope you've had a fantastic week so far and I hope the second half is even better.