Kedron & Surrounding Suburbs Weekly Market Update 14.10.21
Weekly Property Wrap Up by Daniel Hooper of One Percent Property
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✅ KEDRON, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS ✅
14th of October 2021
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Daniel - 0424 585 391⠀
Hi, this is Daniel Hooper from One Percent Property, coming to you with your Weekly Market Update for Kedron and the surrounding suburbs, on Thursday the 14th of October, 2021. So what has been happening in Kedron and the surrounding area, Brisbane's Inner North, and in our beautiful State over the last seven days in property? In Queensland, we had 1,493 sales, which is pretty much on par, maybe a little less than what we've been seeing in recent weeks. 88% auction clearance rate, which is pretty much as high as it's been, not just in the last few weeks, but in the last few years, potentially ever. 35% was the auction clearance rate this time last year. In the Inner North there were 35 sales, which is a good number of properties changing hands, and shows a lot of good activity in the market. A few notable sales in our local area:
24 Hamilton Street in Gordon Park. It's a nice new-build home on 400 square meters. That sold for $1.9 million, which is a cracking price.
118 Wilgarning Street, Stafford Heights. That one achieved $1.59 million. It's amazing to see these circa $1.6 million prices being hit in Stafford Heights. That suburb has really grown and really come a long way in the last 12 to 18 months, which is obviously fantastic for homeowners in the Stafford Heights area.
In the media this week, strength continues. The market continues to be very, very strong. The price went up over half a percent last week, in seven days, which is amazing. We're up around 22.8% in the last 12 months across Brisbane, and as I say regularly in my videos, it is actually quite a bit higher than that in the Inner North, Kedron and the surrounding suburbs. And the reason behind that, stock remains very, very low. If you're thinking about selling, it is probably the best time, certainly in my career, that it's ever been to sell a house, because there are not enough properties for the number of buyers. 30% less properties than an average year. More buyers means very, very tight stock, which means very, very high demand. At One Percent Property this week it's been another cracker.
344 Maundrell Terrace has gone unconditional. That property is... Obviously Maundrell Terrace is a very busy road. It's a three-bed, one bath. The previous price record on Maundrell Terrace for a three bedroom home was around the 650 mark. The owners of this property told me they wanted around 650 to $675,000. We sold the property in three days. We had 10 offers and we sold it for $850,000. So just think about that. You're expecting 650 on your sale, and we get you an offer at 850. This is why I keep saying it might be worth looking to get an update on the value of your home, because it could potentially be quite a lot more than you think it is worth.
Another one that went unconditional this week is 22 Hindmarsh Street in Banyo. That is a very similar story. The owners wanted around 750. We put it on the market. We had six or seven offers on the first weekend. We sold it for $851,000. So again, another massive price, another very good result. It's a combination of a good marketing strategy and a very hot market, brings in some fantastic prices on the properties we're seeing in the local area.
Just listed this week, we've got 1601 at 100 Quay Street, that is Q-U-A-Y, in Brisbane City. Cracking investment. Very, very well kept. It's got a commercial tenant in there that is returning over 6% per annum. It's a really, really great investment property with a lot of good growth prospects. If you're interested, please let me know. Coming soon as well we've got a number of properties across the local area:
18 Scott Street in Kedron is a triple gabled beautiful renovator, cracking block, 689 square meters. We've got 6 Sunny out in Wavell Heights. It is a 629 square meter block. It's in the area where there are... just one street over is a suburb record, a beautiful Hampton's home sold for $2.45 million. There are potential for city views as well. It's a really, really fantastic block with a lot of opportunities.
21004/37 Kyabra Street in Newstead, another little apartment, entry level, great investment, or obviously it could be a first home or something like that.
And 60 Lisson Grove in Wooloowin. It's a little three-bed. It's on a 400 Block. It's in a great location. It is near the railway, but obviously very accessible as well.
If you think you might be interested in any of these properties, or if you'd like to have a chat about what you are interested in so that I can make sure I keep an eye out for you, or if you'd like to get an update on the value of your home, please give me a call at any time: 0424 585 391. Otherwise, I hope you have had a fantastic week so far, and I hope the rest of it is even better.