• Daniel Hooper

Kedron & Surrounding Suburbs Weekly Market Update 10.09.21

Weekly Property Wrap Up By Daniel Hooper Of One Percent Property⁠⠀⁠⠀⁠⁠ ⁠⠀⁠⠀⁠⁠




10th September 2021

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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 10th of September 2021. Before I start, I just want to say, how beautiful is spring in Brisbane, honestly? It's just...the weather in spring in September, it makes me so glad that we live in such an incredible city. One of the many things that makes me glad we live in such an amazing city. So what's been going on in property in the last seven days in Brisbane, and in our local area? In Queensland, we had 1,527 sales, which is a very good result. Auction clearance rate of 76%, up on 55% this time last year, which is very, very strong. In the inner north, we had 31 sales, and a couple of notable sales:

  • 14 Park Terrace in Kedron—that's a 810 square meter block. It's got a knockdown house on it. It is one block away from Gympie Road. It sold for $1.3 million, which is a pretty astounding price.

  • 47 Minimine Street in Stafford Heights—that achieved $930,000, which is a very healthy result.

  • And the big one over in Wavell Heights, another 2 million plus sale—10 Zeehan Street in Wavell Heights sold for $2.13 million. Which is just another…Wavell Heights is just pumping out the 2 million plus results, which is fantastic for local homeowners.

In the media, prices are up 18.6% in the last 12 months. They're up 1.9% this month, and they're up 0.4% this week. Now, that's Brisbane as a whole. What I've seen is, our local area, the inner north and Kedron and surrounding suburbs is going up a bit faster than that. But just to put that into perspective—

  • if you own a house, or you owned a house, that was $600,000; in the last year that house would have gone up, on average, across Brisbane by $111,600.

  • If you owned a house that was $600,000, in the last month, it's gone up by 11 and a half grand.

  • And in the last week, it's gone up by over $2,000.

So, the way property prices are going at the moment, a lot of people will be actually making more money from the increase in their house value than they will from the jobs that they're working Monday to Friday, which is just crazy to think about. It's really, really an incredible growth market that we're experiencing at the moment. The stock is also still very low—around 29% below the five-year rolling average number of properties on the market, which is obviously the cause of what's going on with the incredible price increases we're seeing. At One Percent this week, it has been another really, really big week. We're gearing up for a massive month and a really big end of the year.

  • So, 58 Mellor Street in Kedron—we put that on the market on Monday last week. Had 5 offers come in over the weekend, sold at well above the vendor's expectations on Saturday. Which is a fantastic result—very, very happy vendor…very, very happy buyer, because they secured a fantastic home in a great area in Kedron.

  • 6 at 42 Hilltop Avenue in Chermside—that one is sold and settled. Key handover on Monday. Everyone very happy. That property sat on the market for over 500 days. Previously, with other agents, and I sold it in two weeks, essentially.

  • 16 Dorrigo Street—that's the big one for me this week. We have the auction on Saturday. Stunning home, Stafford Heights, right on the Kedron border, great outlook. It's going to auction at 12 o'clock on Saturday. I'd love for you to pop down if you're around, please come take a look.

And as far as new homes, this week we launched:

  • 53 Huxley Avenue in Alderley. That property is wildly popular. It's going to auction later in the month. But I have a strong feeling it's not going to make it, because we have so many people inquiring on it.

  • 10 at number 8 Clive Street in Annerley—again, very, very popular, beautiful townhouse. That one has our first open tomorrow, and I have a feeling it is going to sell over the weekend.

  • And number 3 at 11 University Road in Mitchelton. Very clean, very, very well-appointed and well-maintained modern apartment, very near the train station. It's a cracker first home or an investment. That one, also, we'll have our first open home tomorrow.

On Monday next week, we'll be taking three new properties to the market, which is:

  • number 1 at 2 Berwick Street in Fortitude Valley—very nice entry-level apartment, good building, very, very clean and well-maintained.

  • 8/6 Primrose Street in Bowen Hills—fantastic apartment, very nice outdoor space with a lot of outdoor entertaining space. That one, again, is launching on Monday.

  • And 22 Hindmarsh Street in Banyo is a cracking three bedroom home. It's got a separate office/studio out the back. It's got a lot of potential, a lot of opportunities. In Banyo, which is a very, very up and coming area. Again, we'll be on the market on Monday.

In the coming weeks, as well, we have:

  • 344 Maundrell Terrace in Aspley, which will be coming to the market in about two weeks.

  • And number 10 at 26 School Road in Stafford, which also will be coming onto the market in about two weeks.

Lots and lots of exciting new properties. Lots and lots of activity. So if you are looking for a home, anywhere in the north, or even in the inner south, we've got a couple coming up, please get in touch: 0424 585 391. Or if you would like to get an update on where your property stands in the crazy market we're experiencing at the moment, please give me a call. Otherwise, I hope you've had a fantastic week so far, and I hope the weekend is even better.

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