Kedron & Surrounding Suburbs Weekly Market Update 15.10.2020
Daniel from One Percent Property here with your weekly property market update.
This week I discuss:
- Brisbane Sales Figures Best In The Country!
- Record Breaking Sales In Kedron & Wavell Heights!
- Whats happening at One Percent Property
- What Is In The Media This Week?
Do you have any questions? Please give me a call - 0424 585 391
Would you like to know what your property is worth in the current market? Follow The Link Below https://www.onepercentproperty.com.au/
Hi, this is Daniel from One Percent Property, here with your weekly market update on Thursday, the 15th of October, 2020.
What has been happening in the world of property over the last seven days? In Queensland, we had 1,246 sales over the last seven days, which is a really, really strong result. Lots of good activity, lots of properties moving hands. And obviously good news for homeowners. The auction clearance rate was around 60%, up on 47% last year. Again, shows the market is staying strong. Again, a very good sign for homeowners in the local area.
In Brisbane, specifically, we had 131 sales over the last week, which is the highest number out of any of the capital cities in the country. Obviously shows that our property market is doing good things.
In the Inner North area, we had 34 sales, which again is a fantastic result. Shows a lot of properties moving hands. Shows the buyers are maintaining their confidence in the market, and that properties are being sold, which is fantastic.
Some notable sales in the area. The really, really big one was 20 Sturt Street in Kedron. A 607 square meter block of land, went to auction on the weekend, and sold for a whopping $1.155M. For a patch of dirt in Kedron, which is incredible. It's a beautiful block. It's on the park, but still, that is a big result. Congratulations to the family that bought that block and they're going to build their forever home there.
We had number 76 on Fallon Street in Everton Park, which is a renovator on 607, that fetched 628,000. It was a really good result. Number 4 Chesterfield Road in Wavell Heights, which is also sort of on the corner there with Edinburgh Castle Road. That fetched 549,000. It's on a small block, so that's also a great result. Congratulations to all of the owners and all of the buyers involved in those deals.
On that note, there are lots and lots of developers looking for properties in Wavell Heights at the moment. So if you own a home and you're in that sort of area around Taabinga Street, Highcrest, Highlands, or Sunny Avenue. If you're in that area, you own a property you're thinking about selling, please give me a call. Because I could probably get you a really great price, without having to go onto market and go through the whole process. 0424 585 391.
In the news this week, it's been another really positive week for property. I love seeing how it's turned around from a few months ago, where it was just negative every single week. This week consumer sentiment is up 11.9%. We are at the highest level of consumer sentiment in the property market since July, 2018. Fantastic result for the country as a whole.
In Brisbane, property prices over the course of the last 12 months, are up 3.8%. But when we hone in on our local area, have a look at this chart of Kedron. This is what Kedron has been doing over the last few months leading up to June. Obviously it's continued since then, but those figures aren't available yet on CoreLogic. But have a look at the growth in price in Kedron over the last few months. We saw almost 4% price growth, just in June. It's really amazing what's happening in our local market. Lots and lots of buyers looking, and obviously not as many properties, which is driving the price up. So if you are thinking about selling, it might be a fantastic time to do so.
At One Percent this week, we've got 8 Malcolm Street on the market. It's been on the market for about 10 days. We had two offers in the first week. It is still available. It's a beautiful, high-end home. Five bed, three bath, in Enoggera.
Also, we have our first open home of number 5 Waratah Crescent this evening. Another beautiful home. It's huge, it's over 400 square meters. It is really, really beautiful inside. I'm expecting that to sell very, very quickly.
It is really a great time to be working in the property market in Brisbane. It's a great time to be a homeowner. And it's a fantastic time to be a seller. So really, all positive things this week, and a fantastic outlook for the immediate future.
Thank you for tuning into this week's property market update. If you would like to get an update of the specific value of your property, based on all of these fantastic sales that are going on in the area, please go to our website linked below, www.onepercentproperty.com.au. There's a quick form there. Send me a few details about your home and I will get a property report out to you within 24 hours, to give you an understanding of exactly where you stand in the current property market. Thank you so much for tuning in. I hope you've had a fantastic week so far, and I hope the second half is even better.