• Daniel Hooper

Kedron & Surrounding Suburbs Weekly Market Update 13.05.21

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



13h of May 2021

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Daniel - 0424 585 391⁠⠀⁠ ⠀⁠⁠

Hi, I'm Daniel Hooper from One Percent Property here with your Weekly Property Market update for Kedron and the surrounding suburbs and Brisbane's Inner North. So, what has been going on in our beautiful city across the last seven days in the property market? Lots and lots of good news, lots and lots of good things, and lots and lots of strength−which is obviously great news for homeowners. So in Queensland over the last seven days we had 1,367 properties change hands, which is a strong number, and an auction clearance rate at 79%. This time last year, the auction clearance rate was zero and that is obviously because of COVID. But how far have we come in the last 12 months and how wrong were the banks and all their big predictions of losses and doom and gloom? The Inner North has had 35 sales in the last seven days, which is a good result. Lots of properties changing hands. It shows that activity is still there, buyer sentiment's still in the market, and everything's looking pretty good still. Some notable sales in Kedron: three at 138 Leckie Road, that is a decent townhouse there, that one sold for $610,247. Kitchener Road in Stafford Heights, that one also sold for $635,000. That's a three-bed on the main road, so obviously a pretty good result. It's good to see some good results across Kedron and the surrounding suburbs. It's good to see properties maintaining price, and obviously buyers are still very much in the market. As far as what's going on in the media at the moment−start with some positive news. In March, Australians knocked $7 billion off our collective credit card debt, which is awesome! That means people are obviously taking care of themselves financially and doing the right thing. Obviously, the budget came out, now that's the big news over the last seven days. A few interesting proposals: The Family Home Guarantee is looking to help single parents under certain earning thresholds be able to buy property with just a 2% deposit, which is an interesting one, and there is also the expansion on the New Home Guarantee, which is allowing people to borrow the 5% deposit, and also increase the First Home Super Saver, which is obviously allowing people to withdraw some of their superannuation. It used to be $30,000 cap, now it's $50,000. Interesting budget policies for me, because what it's doing, all of these policies, to me, are obviously, they're aimed at one thing: and that's stimulating the property market, helping people that can't afford to buy property, buy property, which I fundamentally, and 100% agree with, I think that's great. But I'm not sure about the timing when the property market is already so, so strong for vendors and so, so tough for buyers, to bring in policies at that point in time, that we are going to bring more buyers into the market. It's going to make it more difficult to purchase property; it's going to make prices go up even more. Interesting, interesting decision−interesting time. I definitely agree with the idea of helping people purchase their first home or helping people get into the market. But I'm not sure that an already red hot property market needs more stimulation. But we'll see how that plays out. Brisbane property prices, aside from that, are up 1.8% in April, already up 0.2% in May. So they're showing lots of strength and certainly going upwards, which is good news for homeowners. And stock is still very, very low. I keep harping on about this, but there are not enough houses for the buyers, which is why prices are going up so much and properties are selling so quickly.

At One Percent this week, 16 Besson Street in Stafford Heights, that is unconditional, $900,000 for a four-bed, one-bath, which is the highest price ever achieved in the suburb. 21 Belfort Street in Stafford Heights, that is also unconditional at $1,031,000. That is also the highest price ever achieved for a four-bed, two-bath, on under a thousand square meters. And nine at 159 Clarence Road in Indooroopilly, that is unconditional as well for $405,000.

Next week, we are launching 97 Samuel Street in Camp Hill that one's going on on Monday. Three-bed, two-bath, cracking little property, nicely renovated, modern kitchen and all that. So that one I'm really excited about. And also 12 at 159 Clarence Road, same building that I've just sold number nine in, that one, we'll be launching on Wednesday. It's a cracking apartment, two-bed, two-bath, really, really good opportunity, in a fantastic location.

On top of that, we've got a number of other properties coming through in Kedron and the surrounding area over the next few weeks and the next month. So if you are looking for a home in the area, give me a shout, and obviously, I'll keep you posted as these properties become available. If you have any questions about pricing, if you have any questions about the market, or there's anything else I can do to be of assistance, please do not hesitate to give me a call at 0424-585-391. Otherwise, I hope you've had a fantastic week so far, and I hope the rest of it is even better.

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