• Daniel Hooper

Kedron & Surrounding Suburbs Weekly Market Update 08.10.2020

Daniel from One Percent Property here with your weekly property market update.

Key Points I Cover:

- State & local sales figures continue to show great strength

- Notable local sales in Kedron & Surrounding Suburbs

- Whats happening at One Percent Property

- How interstate migration is going to supercharge our property market!

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Hi, this is Daniel from One Percent Property, here with your weekly market update on Thursday, the 8th of October 2020. So what has been happening in the Queensland and more specifically, the inner north Brisbane property market over the last seven days? So we had 1,396 sales across the state, which again is a really, really strong number. Shows a lot of properties moving hands, and this is really consecutively week on week now, which shows our markets are really doing well.

Auction clearance rate of 50% this week. Now, this time last year, it was just 20%, so it shows how strong our market is compared to a year ago, and how confident buyers are by buying and going through with these auctions, which is a fantastic result for homeowners, and obviously for vendors in our local area. In the inner north area this week we had 29 sales, which is another fantastic result. Lots of properties moving hands. And that's in Kedron and surrounding suburbs.

And some notable sales, number 17 Bunny Street, which is in Everton Park. This is a three bedroom home in Everton Park, which achieved $825,000. Fantastic result. Number nine Warraba Avenue in Wavell Heights sold for 1,030,000. Wavell Heights is actually, I think, a really, really exciting area, a really good area to keep an eye on because property prices there are doing some crazy things. It's really not uncommon now for high-end homes to be selling for $1.6M, $1.7M, even closing a $1.8 million on 600 square meters in Wavell Heights, which a few years ago, it would've been unimaginable. So some really, really exciting things happening over that way. And also obviously filtering down into Kedron as well. Number 71 Huet Street also, that was probably the big one of the week, went in Nundah for $,1,658,000on a 405 block.

So really, really good results. Great for homeowners all around the area. And obviously congratulations to everyone involved in those transactions. At One Percent this week, we've launched eight Malcolm Street in Enoggera, beautiful high-end executive family home. Five bed, three bath. First open home is tonight, and then we're back there at 10:00 AM on Saturday. Please come down and take a look if you think it might be something that you would be interested in. It is a really, really nice home.

We've also got a beautiful townhouse coming to the market next week in Gaythorne. That one is three bed, two bath, one car. Really convenient location near the train station. If you're looking for a townhouse, please get in touch. And we'll also be launching our Endeavor Prize Home that I've been talking about for the last few weeks. Beautiful home, a little out of our area, it's down in Springfield Lakes, but stunning. It was originally a prize home in the Endeavor Lotteries. Really, really beautiful. I'm excited to be selling it. I'm looking forward to working with the vendors there.

The last thing, short and sweet this week. The last thing I wanted to mention is this article I read today regarding interstate migration. Now, I want to show you a couple of charts. The first one is how Queensland was doing in regards to interstate migration prior to COVID. And obviously we were doing quite well. Queensland, Victoria, were the top states there with people moving into Queensland and Victoria and away from other States. Now, this is a prediction for post COVID. Queensland is really, really kicking goals here. We have got a lot of people moving to Queensland, unfortunately from Victoria, mainly, because obviously they've had a bit of a bad run, but it means the property market in Brisbane over the next six to 12 months is going to be very, very exciting.

I'm looking forward to working in it. And I'm looking forward to seeing what happens, because the more people that are moving and looking for homes, obviously the better prices we're going to get. So really, really exciting things happening. And I'm really, really keen just to see what happens, how it grows and how it affects our already strong property market.

Thank you for tuning into this week's property market update. If you would like to get an update of this 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, 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.

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