Kedron & Surrounding Suburbs Weekly Market Update 20.05.21
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 ✅⠀⠀ ⠀⠀
20th of May 2021
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Daniel - 0424 585 391⠀
Hi, this is Daniel Hooper from One Percent Property coming to you on Thursday, the 20th of May, with your Weekly Property Market Update for Kedron and the surrounding suburbs.
What has been going on in our beautiful area and in our beautiful city over the last seven days? Well, in Queensland over the last week, we've had 1,459 sales, which is a really strong number. Increase on the last few weeks, which is good. 73% auction clearance rate. Again, very strong. It was 0% this time last year, but obviously, we weren't having auctions due to COVID. In the Inner North, we had 40 sales. 40 properties changing hands is a big number. So it's a lot of people obviously buying, which shows good buyer interest, it shows good buyer confidence in the market.
A couple of notable sales: 3 at number 5 Burnaby Terrace in Gordon Park. It's a nice townhouse. They achieved $730,000. 21 Kendale Street in Stafford Heights. That one cracked $810,000, which is obviously a good price as well.
This week prices are up by 1% so far this month in Brisbane as a whole. We're up by 8.3% in January. Now the stock is still down 24% on the five-year rolling average. That's the properties on the market, is what I mean by the stock. Now that was 30%, then it was 27, 28%, it's now 24%. What that tells me is there's more properties going to market. The big thing that's causing this rush at the moment is that there's too many buyers for the number of properties being sold. So if you're thinking about selling in the coming weeks, it's probably a good time to action it before too many other vendors go to market and that lack of supply is sort of balanced out, and obviously then the desperation and the high really, really emotional prices in the market may be softened somewhat.
Brisbane's median house price at the current point in time is $621,806. And the median unit price is $405,902. In Kedron, the median house price is $835,000. That price is close to a hundred grand higher than the median house price was a year ago. So it shows how well our area is doing compared to the rest of Brisbane. It shows how strong Kedron and the surrounding suburbs are and how desirable they are for buyers at the moment, which is really, really good news for homeowners in the area.
At One Percent this week, another great week. Unit 2504 at 550 Queen Street in the city —that one is unconditional at $570,000. Congratulations to both vendor, my vendor Eugene, and my buyer, Brandon. 28 Folkstone Street in Albany Creek, another cracking home. That one, we're going unconditional tomorrow. I can't reveal the price yet, but it was the highest price ever achieved for a four-bed, one-bath in the suburb. 2 at 67 Benson Street—that one is under offer. It took us just over two weeks and I got a fantastic offer above the asking price for my vendors there. 97 Samuel Road is on the market as of Monday. We have already had a site-unseen offer on that property, right in the price guide. So there's a lot of interest on that one and I'm very confident it will be going under offer this weekend. Also, 12 at 159 Clarence Road is on the market with lots of interest.
The first open home is this weekend. We've got three opens on Saturday. If you're looking for property in Brisbane and you'd like to come along, I'd love to meet you. Otherwise, we have lots of new properties coming soon to the Kedron and the surrounding areas. So if you are looking for a home or if you have any questions about property, or if you'd like to get an update on the value of your home, please feel free to give me a call 0424 585 391. I hope you've had a fantastic week so far and I hope the second half is even better.