Kedron & Surrounding Suburbs Weekly Market Update 19.3.2021
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 ✅⠀⠀ ⠀⠀
19th of March 2021 ⠀⠀
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Hi, this is Daniel from One Percent Property, here with your Weekly Market Update, coming a day late on Friday, the 19th of March, 2021. So, what has been happening in Queensland and in our beautiful local area, Kedron and the surrounding suburbs over the last week? Well, we had 1,543 sales in Queensland, which is a fantastic result, lots of properties changing hands. 81% auction clearance rate. 58% this time last year. Really, really big things. Really, really big amount of buyers in the market at the moment and fantastic things for homeowners. 39 sales in the Inner North, Kendra, and the surrounding suburbs. Again, that's another really big result, shows good things moving forward. Couple of notable sales in our area, 3/20 Figgis Street, which is a nice three-bedroom townhouse sold for $610,000, and Nundah Street also in Kedron, that sold for $976,000 for three-bedroom home, that is a good result. At One Percent Property this week, another massive week, 186 Turner Road, we had that on the market for six days, we had nine offers, and that is under contract at a fantastic price. 122 Leckie Road in Kedron, that is the apartment building sitting on 832 square meters in the Kedron Avenues, that's been on the market for four days, already had four offers, well within the range and the price guide that we're giving, and it will go under contract this weekend and I have no doubt of that. 5 Blackton Street in Logan Central, that fell through due to the building and pest, but within six hours, I had it back under contract with a new buyer, building and pest has been approved, and we are now moving forward and I'm confident that it's going to move forward as well. This week we also launched 22 Koolewong Street in Stafford Heights, it is a stunning four-bedroom renovated home that has gone out exclusively to my database and we have our first open tomorrow, lots and lots of interest. And also coming soon, I have an 810 square meter splitter block on two titles in Greenslopes, it's a cracking opportunity. It's a post-war house, really, really good opportunity for development there, and details for that property will be coming next week. Finally, this week I wanted to chat about something that I'm getting asked every single week by frustrated buyers. People are asking me, "How do I get a home? How can I get around this market?" People want to get off-market, people want to get things before they go out to everyone else. But realistically by vendors know what is going on and most vendors want to go to market because they know they're going to get competition, they're probably going to get a better price. So, what can you do to help yourself get a property in such a competitive market? So, obviously, conditions and terms and all that sort of thing do come into effect quite a bit, but price is king. Go to the first open home for the property, because if you miss the first open home, you're probably going to miss out, it's probably going to be sold before the second one. That's number one. And if you like that property, and it's going to be your family home for the next 10 years, pay a little more than you think it's worth, because over the next 10 years with capital gains, that extra $20,000 or $25,000 that you put in, is going to get eaten up. But if you want to get something in the current market, I can almost guarantee there'll be someone else that is emotional and is paying more than the property's worth. So if you're going in with a level head and all you're doing is your calculations and going, "It's worth this, I'm not going to pay any more," in the current market, from what I've seen, you're not going to get your home. If it's an investment, that's one thing. If it's your home, then find somewhere you like and put in an offer that's a little bit above what it's worth. That's what I've seen is happening in the market. That's just obviously my opinion. I know some people won't agree with that, but that is how I believe you'd be able to secure a home in the current market. Having said that, obviously, the market is absolutely hot right now, so if you are in the local area, Kedron, and the surrounding suburbs, and you would like to get an understanding of what your property is worth, please give me a call for an obligation-free chat 0424 585 391, otherwise, I hope you've had a fantastic week so far and I hope the second half is even better.