• Daniel Hooper

Kedron & Surrounding Suburbs Weekly Market Update

Updated: Feb 5, 2021

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






4th of February 2021⁠⠀


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Hi, I'm Daniel Hooper from One Percent Property, here with your weekly market update on Thursday, 4th February 2021. What has been happening? It has been a massive week for property in Queensland and in Brisbane to follow on from a massive month in January. In Queensland, we had 1,233 sales in the last seven days with an auction clearance rate of 58% up on 28% this time last year. That really shows how strong the market is at the moment. In the inner North, Kedron and surrounding suburbs we had 23 sales in the last seven days, which is a very respectable number. Some notable sales, 1/54 Brookfield Road in Kedron, sold for 632,500. One of the highest sale prices in the last year. Not quite the record I sat with 3/28 Figgis Street, but it's good to see some more townhouses cracking that 600 mark. 14 Remick Street in Stafford Heights achieved $778,000. Again, that's a very, very good price and 113 Haig Street in Stafford cracked 715,000. Very good prices all around. Great to see such great prices and such great strength in the market.

It has been another really, really busy week for myself at One Percent Property, 205/58 Thistle Street, that went unconditional yesterday. That one vendor was hoping for around $650,000. I got her a contract in four days for 735,000. She was absolutely over the moon. The buyer is also absolutely over the moon because we found the premium buyer who loves the property so much. It's their forever home. They're going to live there, I think for the rest of their life. And they didn't mind paying a little more to make sure that they secured it over the competition. We actually had four offers on the table in four days on that property. 6/55 Sixth Avenue in Kedron, unconditional yesterday, little two bedroom on Sixth Ave, that sold for 306,000, which again is one of the highest prices for a two-one in Kedron the last 12 months. 17 Sedgemoor Street in Stafford Height, unfortunately the contract on that fell over on Friday, but I had a feeling that the finance wasn't going to come through, so I had some buyers waiting.

We had it back under contract within three hours, with multiple offers on the table at a higher price than the original offer. So, the vendors were pretty happy with the outcome there and it made the best of a bad situation. Coming to the market in February, we have 8/2 Riverton Street in Clayfield, already on the market. Beautiful two bedroom, really, really nice two bedroom, two bath, two car apartment. We also have 186 Turner Road in Kedron coming to the market soon. We have a beautiful three bedroom house in Stafford Heights, 311 that on 657 square meters, will also be coming to the market in the next couple of weeks. 9/159 Clarence Road in Indooroopilly, beautiful two bedroom apartment that will be launching towards the end of the month.

And finally 5 Blackton Street in Logan Central, a little bit out of my area, but it's a beautiful little house, is a fantastic investment property. Returning 6 to 7% rental yield. Definitely must have a look at it, if you're looking for an investment with high rental returns. In the news this week, Brisbane house prices up 1% in January, up around 5% year on year, and that is accelerating. It's going to continue to grow. It's showing some really good strength, still around 29% less properties on the market listed right now as there were this time last year. So, we have a third less stock and we have more buyers than we did this time last year, which is causing a bit of a frenzy.

We're getting really great prices across the board, and it's not uncommon to get a couple of hundred buyers through a property in a week, which is something that would not have been heard of a year ago. So really, really great market at the moment. Great time to be selling. On that note if you have any questions about the market or you would like to get an update on what your property might be worth based on the current market and based on the higher prices that we are achieving, please give me a call 0424 585 391. Otherwise, I hope you have had a fantastic week so far, and I hope the second half is even better.

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