• Daniel Hooper

Kedron & Surrounding Suburbs Weekly Market Update 15.07.21

Weekly Property Wrap Up By Daniel Hooper Of One Percent Property



15th of July 2021⠀⁠⠀⁠⁠

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Hi, I'm Daniel Hooper from One Percent Property and I'm here today with your Weekly Market Property Update for Kedron and the surrounding suburbs coming to you on this beautiful Thursday, the 15th of July 2021.

So what has been happening in our wonderful area in Kedron and the surrounding suburbs, Brisbane inner north, over the last seven days in property? Well, in Queensland we had 1,415 sales in the last seven days. 93 of those sales sold at auction, and that was a 72% auction clearance rate, which was up on 43% this time last year. It's actually up on a few weeks ago as well, showing that buyer confidence is still on the market and buyer demand is still in the market, which is, obviously, very good news for homeowners in Brisbane and in our local area. In the inner north, we had 28 sales which is a little subdued on what we had a few months ago, but still a good number.

A few notable sales: 73 Niven Street in Stafford Heights sold for $890,000. That's a really, really good price for that home. 40 Harold Street in Stafford sold for $972,000, and to 2 Chigwell Street in Wavell Heights sold for a million dollars. Wavell Heights is really starting to become quite a blue-chip suburb. It's getting some really fantastic prices pushing upwards towards those $2 million range. With Kedron as well, following suit and getting a couple of properties up in that range, which is awesome for homeowners in the local area.

Looking to the media this week, obviously, everyone is tentatively watching what is going on in Sydney and hoping that it does not spread up here. Fingers crossed that they're obviously going to recover from this quickly and that we're going to be able to make sure we continue business as usual in Queensland. Having said that, the markets is still doing very, very well. There's still a lot of buyers out in the market, there's still a lot of great prices.

There's been around a 0.7% growth so far in July, which means we're very much on track to get at least a similar figure to what they got in June, which is around the 2% mark. And stock is still down around 26% lower than the five-year rolling average, which means there's still far too few properties for the number of buyers. There are too many buyers in the market for the number of properties. So obviously, there is a bit of desperation, there's a bit of FOMO, and people are paying good prices for properties in our local area.

Locally at One Percent Property this week, 7 Emerald Street in Kedron, that has two frontages, Emerald and Leckie, that one is now unconditional. That sold in seven days for $1,000,045. Sorry, $1,045,000, which is a street record for both Emerald and Leckie Street. That's the first time I've ever broken two street records in one sale, which is exciting. 20 Larwood Place in Ferny Hills is a stunning Queenslander on an elevated 850 square meter block. It's got incredible aspects over the street. It is a beautiful home and it launched on Monday. Then we have our first open home on Saturday. I'm pretty confident that will sell this weekend. Lots and lots of interest.

6/42 Hilltop Avenue in Chermside. That is a cracking little entry-level apartment near the hospital, that's coming to the market next week. If you're looking for something like that, please give me a call; around the $300,000 mark. 79 Queenscroft Street in Chelmer, a little bit out of the area, but it is a cracking home, great area, a very, very good opportunity to either do a renovation or knockdown and rebuild. That one will be coming to market in the next couple of weeks as well.

Lots and lots of exciting homes coming up so if you are looking for a home, please stay in touch. If you are looking to get a value on your home, please give me a call: 0424 585 391. If there's anything else I can do to be of assistance in and around the property market, happy to help in any way I can. 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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