Kedron & Surrounding Suburbs Weekly Market Update 29.10.21
Weekly Property Wrap Up by Daniel Hooper of One Percent Property
RATE MY AGENT 2021 KEDRON AGENT OF THE YEAR WINNER
REIQ 2021 "RISING STAR REAL ESTATE SALES" FINALIST
✅ KEDRON, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS ✅
29th of October 2021
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Daniel - 0424 585 391⠀
Hi, this is Daniel from One Percent Property, and I'm coming to you with my Weekly Market Update on Friday, the 29th of October 2021. So what has been going on in our beautiful area: Kedron and the surrounding suburbs, in the last seven days? Well, in Queensland, we had 1,572 sales. We had an auction clearance rate across the state of 89%. That's up from 56% this time last year. It's, as far as I'm aware, the highest auction clearance rate we've ever had in Brisbane, certainly in my career. In the Inner North we had 35 sales, which is a good number—lots of properties changing hands. A couple of significant results in the area:
65 Scott Street in Kedron, that sold for $1.821M and
10 Luke Street in Wavell Heights achieved $1.81M.
It's becoming more and more common to see properties in our beautiful area that are achieving these 1.8, 1.9, $2 million price range. If you went back 12 months, there was not a single property achieving over $1.8. So it's amazing to see what's happened in the local area, and how prices have gotten so much stronger. In the media this week, prices have increased by 2% in October. So if you own a million dollar house, it's gone up by around $20,000. That's across Brisbane, on average. Over the last 12 months, prices have gone up by 23.3%. So that same million dollar home has gone up by 230 to $250,000 over the last year, which is mind blowing when you think about it. It's a lot of money. Every property that lists onto the market at the moment, there is 1.4 properties that sells. Which is, obviously, contributing to our lack of stock on the market, with around 31% below the five year rolling average. So again, that is the reason the prices are going up, because there are not enough properties for all the buyers. 31% below the rolling average, same number of buyers, if not more, prices are increasing. At One Percent this week, it's been another massive week.
18 Scott Street is on the market in Kedron. It's a stunning triple-gabled home. We will be doing our first open home with that property tomorrow.
We've got 73 Griffith Street in Everton Park. It's a modern, family…four-bedroom family home. It is an absolute cracker—must see if you're looking to find a home that is move-in ready.
We've got 60 Lisson Grove in Wooloowin, that also launched this week. It's a entry level home in Wooloowin. It's very rare to find a three bedroom home in Wooloowin for under a million dollars. This home is very competitively priced. It's in a very convenient location, walking distance to the train station, and it has been extremely popular. That one's also open tomorrow.
And 21004 at 37 Kyabra Street in Newstead. Again, open tomorrow afternoon. It's a very good investment or a first home. Very, very clean…two-bed, one-bath apartment overlooking Newstead. It's got a good view. The building's got fantastic facilities, pool and gym. It is a really good little apartment, and it's certainly worth taking a look at.
Coming soon, as well, we've got a cracking townhouse in Everton Park. We've got a cracking townhouse in Gordon Park. And a number of other properties that's in the pipeline that will be coming in the next couple of months. So, if you have any questions about the properties that we have just launched, if you have any questions about the market, or you would like to get an update on the value of your home, please give me a call: 0424 585 391. Otherwise, I hope you've had a fantastic week so far, and I hope the rest of it is even better.