Kedron & Surrounding Suburbs Weekly Market Update 13.08.21
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 ✅⠀⠀ ⠀⠀
13th of August 2021
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Daniel - 0424 585 391⠀
Hi, this is Daniel Hooper from One Percent Property and I'm here today on Friday, the 13th of August, 2021 with your Weekly Property Market Update for Kedron and the surrounding suburbs. So in Queensland this week, we had 1,458 sales, which is a good number. It's actually a very good number thinking about, obviously, a lot of the states Southeast Queensland was in lockdown for a good part of this last seven days. 82% auction clearance rate, which is actually a fantastic number, especially taking into account all of the auctions on the weekend were virtual. There were no in-person auctions. We still get 82% clearance. It was 35% this time last year, which shows how strong the Brisbane market is at the moment. In the inner north, we had 34 sales, which again is another really, really strong figure. Couple of notable sales:
#1 one at 70 Warringah Street in Everton Park. That's a townhouse—achieved $737,500 which is a massive price for a townhouse in Everton Park; very, very nice townhouse, but still a huge price.
79 Clifford Street in Stafford, that one is a 1970s-build, asbestos, original condition on a good block. But it achieved $939,000, which is an astounding price for that sort of home. It really shows what has happened to the prices in our local area. And, you know, if are sort of thinking about what your home might be worth, it would be worth giving me a call because it's probably a much higher value than you think. And even just for your insurances or your peace of mind, I'd be happy to let you know what it is worth in the current market and what the potential opportunities are. My number is 0424-585-391.
In the media this week, Brisbane property prices are up 0.4…sorry, 0.5% a month to date, so far in August and 14.4% so far in 2021, which is massive. The stock on the market, it was around 30% below the average, the number of properties available on the market. It then sort of started easing up and it went down to about 24%. It's now back pushing up again. So it went back up to 29.1% below the five-year rolling average of number of properties on the market. Now that means, again: lower stock, same number of buyers or more buyers means under supply, means people are not getting houses, means prices are going to get pushed up. We're going to get more and more strength in the market. And people are going to get the prices that they want to get when they're selling their homes. And that's what we're seeing. And 82% auction clearance rate, what that means is buyers are paying the prices that vendors want. Properties are hitting their reserve. And they are selling compared to 35% this time last year. At One Percent, it has been a big week with new properties, which is exciting. Not so many have sold. We've got a number under contract that are settling soon, but lots and lots of new stock coming to the market.
On Monday, we launched 19 at 11th Avenue, Kedron—which is a stunning five-bedroom home on the avenues, walking distance to the Brook, walking distance to the Kedron State Primary. It is a real cracking home that's going to auction: first open home this weekend at 10:00 AM.
3 at 636 South Pine Road in Everton Park—that is a cracking entry level apartment, mid threes. It's a fully renovated top-to-toe. They spent about 40 or $50,000 renovating that place and it is absolutely stunning. So it's a really, really nice, unusual, entry-level property because you don't normally get properties that are that nice at that price point. Open this weekend—please come, take a look.
79 Queenscroft Street in Chelmer, again, that one is an older home, but it's on a beautiful 700-square meter + block of land on Queenscroft Street, which is one of the most sought after streets in the suburb. It is very, very popular. We've had a lot of inquiry. We've already had a sight unseen offer. So if you are interested in Chelmer, come take a look on the weekend, 12:45 PM.
Next week, we will be launching 16 Dorrigo Street in Stafford Heights. It is a stunning four-bedroom home, all spread out on one level. It's got high ceilings, massive bedrooms. It's got a beautifully manicured backyard with a fire pit overlooking sort of city glimpses, a 600+ block. And it's a cracking home. It's going to auction.
And 11 Robinia Street in Alexandra Hills, again, another fantastic home—renovated. It's got an upstairs-downstairs separated area so you can have, you know, family living there or a home office, or rented out. Another fantastic property on 600+ square meters that will be launching on Monday as well.
Lots and lots of properties coming up. Lots of opportunities. So if you are looking for a home in the area, please give me a call: 0424-585-391. I'd love to have a chat to you about what's available. And if you'd like to get an update on the value of your home, based on all the crazy sales that we're getting at the moment, please get in touch.
Otherwise, I hope you had a fantastic week so far. I hope the weekend is even better. And if there's anything at all I can do to be of assistance, please give me a call.