Kedron & Surrounding Suburbs Weekly Market Update 11.11.21
Weekly Property Wrap Up by Daniel Hooper of One Percent Property
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✅ KEDRON, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS ✅
11th of November 2021
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Daniel - 0424 585 391⠀
Hi, this is Daniel Hooper from One Percent Property, coming to you on Thursday, the 11th of November 2021 with your Weekly Property Market Update for Kedron and the surrounding suburbs. So what has been going on in Kedron and in our beautiful area over the last seven days? We had 1,712 sales in the last seven days, which is a high number. One of the highest I've seen in a long time. 90% auction clearance rate, which is the highest I've ever seen in Brisbane. And that's up on 47% this time last year. So very, very positive. The market is still very, very strong leading into the Christmas break, and it is still a very good time for homeowners and for people thinking about selling their properties. 32 sales in our local area around Kedron and surrounding suburbs in the last seven days. The most notable of which was 32 Willis Street, a public trustee auction, which sold in Gordon Park. It is just over a 600 square meter block of land, a very old uninhabitable house with termite damage, deceased estate. It got 1.565 million, which is a fantastic price for that sort of property. In the media this week, property prices in Brisbane as a whole, are up around that 22% mark in the last 12 months. In the Inner North, Kedron, and surrounding suburbs, that growth is much higher than 22%. It is probably more around the 30 to 45%, depending where you are. Over the last 30 days in October, prices went up 2.5% in Brisbane as a whole, which is the highest we've had out of any month this year. So anyone saying the property market is slowing down, or it's not a good time to be selling property, needs to take a look at that statistic. The growth we had in October was the highest out of any month in 2021. So, obviously, that's very, very positive for local homeowners. And it's very, very positive for people that are thinking about selling, but might have been worried that they'd missed the rush. It's still a fantastic time to be looking at getting a value on your property or to be looking at obviously moving your property on. There are a lot of buyers in the market. Inflation is obviously something that's on the tongue of everyone, talking about the RBA bank rates and whether that's going to increase. But from the articles that I've read so far, inflation is very steady and the RBA said they're going to keep their cash rates steady. Now, obviously, keep in mind that a lot of the banks are breaking away from that and going up on their own, which is something to be aware of. In my opinion, it has to go up significantly in order to actually affect the market, because obviously people then will struggle to repay their loans and they'll have to sell and reduce their outgoings. If that happens, obviously prices will get hit, but it would have to go So two weeks ago we launched four properties, up a couple of percent, in my opinion, in order for that to happen. So I don't see it in the immediate future for our local area. Potentially, something that might happen over the next couple of years, but I don't see it as an immediate threat. At One Percent Property the last fortnight, it has been a massive couple of weeks. So two weeks ago we launched four properties, of those four properties we sold three the same week.
18 Scott Street in Kedron, launched on Monday, signed and sealed, unconditional offer on Saturday. That property is a three-bed, one-bath. Previous highest price point in the suburb was 1.3 million for a three bed, one bath, we achieved 1.47 million. We had six offers on the table for that one in six days.
73 Griffith Street in Everton Park. Again, there is one four bedroom home in Everton Park on a 405 block, in history, that has ever sold over a million dollars. That one, we had six offers again on that property in just under a week. And we ended up selling it for around 1.2. It's not unconditional yet, so I can't give the exact price.
60 Lisson Grove in Wooloowin. That property is a little house on a 415 square meter block of land, right next to the train tracks. The owners for that one, they were hoping for around the 800 mark, we sold it for $850,000 on the first weekend.
Also, last week we launched 3 at 48 Alva Terrace in Gordon Park. It's a beautiful townhouse. We had it under offer on the first weekend again, on Saturday last week, for the second highest price ever achieved for a three-bedroom townhome in Gordon Park, it was in the high 600s.
This week, we launched 13 at 128 Barton Street in Everton Park, another stunning townhome. It is on the market. It's first open on Saturday. It's got a lot of interest, and I'm confident it is going to sell this weekend.
And then coming soon, we have launching on Monday, 73 Canopus Street in Bridgeman Downs, cracking four bed family home on 500 square meters. That is launching on Monday, it's going to have a lot of interest and I'm sure it will sell over the weekend.
182 Turner Road in Kedron. Very, very unique three-bed, two-bath home. It is a stunning offering in Kedron, and we're going to be doing a soft launch off-market leading up to Christmas. And if it hasn't sold through my database by Christmas, it will be going on realestate.com in the new year.
And also, I have one more property in Stafford Heights that is coming up. I can't give the details just yet, but it's on a 600 plus block, it's got a great aspect. And it's a renovator or it can be knocked down, it's a post-war as well. So a lot of exciting properties coming up, leading up to the end of the year.
If you are interested in getting a value in your home, or you'd like to have a chat about, basically, the market in general, or there's any other questions I can be of assistance with, please give me a call, 0424 585 391. Otherwise, I hope you've had a fantastic week so far, and I hope the rest of it is even better.