• Daniel Hooper

Kedron & Surrounding Suburbs Weekly Market Update 29.07.21

Weekly Property Wrap Up By Daniel Hooper Of One Percent Property⁠⠀⁠⠀⁠⁠⁠⠀⁠⠀⁠⁠



29th of July 2021

Thinking of selling your home? Sell with Kedron's Agent Of The Year and only pay 1% commission!⁠⠀⁠⠀⁠⁠⁠


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 29th of July 2021. So, what has been going on across the state, across our beautiful area in property in the last seven days? Well, in Queensland, we had 1,349 sales over the last week. That's a good number of sales. Shows still there are still a lot of properties changing hands. Obviously, still a lot of buyer confidence in the Queensland market. 79% auction clearance rate compared with 52% this time last year. Which is still a very strong number. Very, very good results for Queensland, so obviously, everything going well at auctions as well. In the Inner North, we had 27 sales—good number. Not extremely high, but very, very strong. A couple of notable sales: 210 Kitchener Road. Now, that's actually that property on the corner of Kitchener and Webster Road, so very busy location. Crack $1.15 million is a pretty good result for that location. Nice house, city views, but very, very busy location. 21 Roderick Street in Wavell Heights. That one achieved $970,000. Again, pretty good result for that sort of property. It's showing that there's still a lot of strength in the market. Prices are still moving up and people are still getting good results all around. As far as what's in the media this week, Brisbane house prices on average are up 14.8% year-to-date. Now, if we zone in on Kedron—Kedron is actually up around 20% year-to-date. Surrounding suburbs around Kedron: Wavell Heights, Stafford, Stafford Heights, all of the, sort of, blue-chip suburbs around where we love and around our suburb are all somewhere between 20% and 30% growth. So, it's really showing that it is a desirable area. Brisbane's Inner North, Kedron and the surrounding suburbs is showing that people want to live there and it's showing that houses are growing faster in these areas than they are in Brisbane as a whole. Which is really good news because obviously, it means, as prices go up, houses grow faster. Investors will come into the market. It just means things are going to stay very strong for the foreseeable future anyway. So, the big news over the last week may have been the week before, but obviously, Brisbane is now hosting the 2032 Olympics. So, this is a massive thing for the city. It's obviously very, very exciting. Absolutely loved the Olympics, which are on right now. So, it is very exciting on a personal note and it's obviously, massive for jobs. It's massive for tourism. It's massive for growth of the city. There's going to be a lot of infrastructure that is going to be invested into Brisbane. There's a billion-dollar project to improve the Gabba Stadium, which will be obviously one of the hubs. We've already got the Cross River Rail and we've got a whole bunch of other projects that are coming to Brisbane over the next 10 years—which are going to absolutely change the way the city looks. So, that is obviously going to bring in...It's going to bring in growth through international investment. It's going to bring growth through interstate moving. There's a lot of different things which should help to bolster this growth that we're having at the moment. So, obviously, we've got this growth caused by a number of different factors, which is more than we've seen in 20 odd years and it will slow down at some point. But what I'm hoping, what I think might happen, is that the Olympics are going to help bolster that and help carry that on longer. One thing, which is going to be an interesting scenario, which is going to play out is all of the new projects that are coming because of the Olympics are going to add to the massive supply issues that the construction industry already has. It is very, very difficult to get trades. It's difficult to get timber. It's difficult to get things like that, which could see smaller home builders and renovators actually not going ahead with projects. Which also could then see lower supply of housing, which is going to add to our already 30% less listings on the market than a traditional year. So, all of these things could come together and actually potentially push prices up a little more as well. Obviously, no crystal ball, but I definitely think that it's a potential. At 1% over the last week, it's been a massive week. 67 Bristol Road's under offer, took a little while to get it under. It is obviously in that, sort of, industrial area in Kedron over near Boothby Street, but we found the right buyer. We found someone that loves the house. We got it under offer for a fantastic price and that is now moving forward very, very quickly. 20 Larwood Street—that one went under offer on the first weekend. Great price, very happy buyers and everyone is obviously, very happy, vendors as well. It was a great result. 172 Gympie Road in Kedron—I sold that property off-market via my network. It's just gone unconditional. I can tell you that. That one sold for $1,317,000. 1/43 Bowen Avenue, that one in Albany Creek is now sold and settled for a suburb price record by close to $100,000 for a three-bed, one-bath townhouse. And 2/67 Benson Road in Toowong is also sold and settled—very happy vendor and very happy buyers; inter-state buyers for that one.

Coming soon, I'm really, really excited. One of my favorite houses that I'm going to have sold so far. 19 at 11th Avenue in Kedron—it is a cracking location. It's on the Avenue, a stone’s throw to the park. It's walking distance to Kedron State Primary School. It's a stunning five-bedroom home on 600 square meters—massive lot, very private, beautiful house. It is going to be coming to auction and launching in a couple of weeks. It is absolutely stunning. Really, really excited to be working with that one. 3 at 636 South Pine Road in Everton Park. Again, another beautiful little home. Entry-level apartment, but it has been renovated top-to-toe: kitchens, bathrooms, floors, paint, everything. So, if you're looking for an apartment in the area, please get in touch. And also 3 at 11 University Road in Mitchelton, that will be coming onto the market in the next couple of weeks. Another really cracking entry-level apartment, two-bed, two-baths; very, very clean and tidy. So, if you think any of these properties that I've mentioned might be what you're looking for, if you have any questions about the market, 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've had a fantastic week so far and I hope the end of it is even better.

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