Kedron & Surrounding Suburbs Weekly Market Update 11.3.2021
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 ✅⠀⠀ ⠀⠀
11th of March 2021 ⠀⠀
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Hi, this is Daniel from One Percent Property, here with your weekly market update, on Thursday, the 11th of March 2021.
So what has been happening over the last week in our beautiful State and in Kedron and the surrounding area, as far as property goes? In Queensland we had 1,596 sales in the last seven days, which is a really, really good result, shows a lot of properties moving hands. We had an auction clearance rate of 84%, up on 44% this time last year. So basically double, which shows how strong the market is. In the Inner North area, Kedron and the surrounding suburbs, we had 35 sales. Which again, is a very good result. Lots of properties moving hands. Shows that there are lots of buyers still in the market.
Some notable sales, 59 Waroon Street in Stafford. That is a unrenovated three-bedroom home, achieved $625,000, which is a really good result. 903 South Pine Road in Everton Park. Again, unrenovated home on Everton Park, $670,000−very, very good result. And the big one, 66 Highland Street in Wavell Heights. Unrenovated home, fantastic block, 800 square meters with city views. That achieved a massive $1.5 million−shows how strong that little pocket of Wavell Heights is: Sunny Ave, Zeehan Road, Highcrest, Highlands Street. That little pocket just continues to show incredible strength, and prices are just pushing up and up in that area.
In the media this week, 1.7% property price growth over the last month, 6.6% over the last 12 months. That shows you how strong the market is at the moment and that prices are really actually starting to increase, if anything−certainly not slowing down. Stock remains extremely low. Buyer numbers remain extremely high. And there is most definitely an undersupply of properties on the market at the moment.
At One Percent Property this week, it has been another huge week. 75 Showgrounds Drive. We launched that last Tuesday, under offer by Sunday, four offers on the table for a fantastic price and very, very happy buyer, very, very happy seller. 2 Ainsdale Street in Chermside West. Launched that on Wednesday, under offer on Saturday, in three days, with five offers on the table. What a fantastic result for our vendors. 5 Blackton Street, Logan Central. That one didn't sell in a week, but it did sell at the asking price. It took three weeks. We got that under offer on the weekend. Now they don't all sell in one week, but I'll certainly make sure I get you what you want. Some just take a little more time than others.
This week we have 186 Turner Road in Kedron, which is a cracking property. Walking distance to Padua, it's on a beautiful flat block. That one is very, very popular. Launched yesterday, I'm confident that'll go under contract this weekend. Also 9/159 Clarence Road in Indooroopilly−beautiful two-bedroom apartment. That launched on Tuesday, already received one offer above the asking price. And I'm pretty confident that will also go under contract this week.
Coming next week, we have 122 Leckie Road in Kedron, that is 830 square meter block. It's four by two-bedroom apartments, in a single blond brick apartment building. It's got massive cashflow. It's got very, very good land value and land potential growth. If you want to land bank and also make some money from the rent while you're doing it. It's got development potential, low-medium res zoning. It's a cracking property. First open home will be 20th of March, next Saturday. So please make sure you stay tuned and check out that one when we launch it next week.
The property market at the moment is the best it has been since I started working in real estate. Almost every single property is selling for more than the buyers want, and usually in a week or two as well. So if you were thinking about selling, or you even just would like to get an update of what your property is worth, based on the current market conditions, please give me a call 0424 585 391. Otherwise I hope you have had a fantastic week so far and I hope the second half is even better.