Kedron & Surrounding Suburbs Weekly Market Update
Kedron & Surrounding Suburbs Weekly Market Update
Weekly Property Wrap Up By Daniel Hooper Of One Percent Property⠀
🥇KEDRON'S NUMBER 1 AGENT BY CUSTOMER STAR RATING (RATEMYAGENT)🥇⠀
✅ KEDRON, WAVELL HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS ✅⠀
11th of February 2021⠀
Thinking of selling your home? Sell with Kedron's #1 Agent by Customer Star Rating and only pay 1% commission!⠀
Call Daniel - 0424 585 391⠀
Hi, this is Daniel Hooper from One Percent Property, here with your weekly market update on Thursday, the 11th of February, 2021. So what has been happening across Brisbane, in the Inner North and across Kedron and the surrounding suburbs in the last seven days? In Queensland, we had 1,492 sales across the last seven days, which is a really, really good result. Lots and lots of sales. It shows properties are moving hands, and it's good for vendors and buyers alike. 76% auction clearance rate, that is up on 45% this time last year. Again, a very, very strong result. Across the Inner North and Kedron and the surrounding suburbs, we had 27 sales, which again, is a good number, it shows good sentiment in the market and it shows lots of properties are changing hands.
Some notable properties over the last seven days, some notable sales, 118 Somerset Road in Kedron achieved $786,000, which is a really, really strong result. It's a single-level home on a good block.
40 Gorman Street in Kalinga, that one achieved 1.2 million, which is continuing the run of really great prices for Kalinga. Kalinga is obviously a really exclusive little pocket and it is a fantastic area if you are looking to buy your "forever home."
At One Percent Property this week, 23 Hunter Street is unconditional. I signed my Form 6 listing agreement on Friday, had that property under offer Sunday morning for $700,000 in a suburb where the average price for a three bedroom home is 615,000. So a fantastic result, happy vendor, and very happy buyer because the home has a lot of potential, a lot of development potential, and is a really, really good investment for that buyer.
Five Blackton Street is on the market. That property is a beautiful little investor. It's a beautiful little buy-and-hold in Logan Central. A little bit out of my area, but it does return 6 to 7% rental yield, which is a fantastic result. You can get some really, really good positive cash flow from that property.
25 Oakey Road in Stafford Heights is also on the market. That property is only available to my database and to my social media following. It is not going on realestate.com. I put it out yesterday to a select group of around 300 buyers that have come through recent properties I've sold. We've already had 40 to 50 inquiries and I'm expecting at least 50 people through the open home, Saturday morning, 10:00 AM. Without any advertising at all, I think this property is going to go under offer in about three or four days for a really, really great price. And that shows how strong the market is at the moment.
If you want to test the waters, you want to put your toe in and check whether you can get that price for your property without doing a full-scale marketing campaign, at the moment, it is the best time to do it because I'm selling a lot of properties before they get to realestate.com or without going on realestate.com.
We have a few more stunning homes coming up in the coming weeks, so please stay tuned if you are looking for property in the Inner North part of Brisbane, Kedron, and the surrounding suburbs. In the media this week, Brisbane property prices are up 5.3% year-on-year. The price growth is looking very, very strong. The properties in our local area are looking very, very strong and things are forecast to continue. The market is also still massively under-supplied. There are way more buyers than there are sellers at the moment. So there is a buyer rush, it's a gold rush at the moment.
How long that is going to last I really can't say because when sellers start to put their properties on the market at the same rate that buyers are looking, obviously it's going to even out and the rush that is happening at the moment is going to stop. Whether that'll be in March, it could be in the middle of the year, could last the entire year, I really can't say that. But what I can say is once people start to sell, because of obviously the rush of buyers, once vendors decide to go to market and the stock builds back up, it is going to be a very different situation.
On that note, if you would like to have a chat about a strategy to sell your property, whether you want to test the waters and see whether you can get an off-market sale, or you want to go on realestate.com and do a full campaign, please get in touch. I'm happy to give any advice, including price updates, anything you need, obviously absolutely obligation free. My number is 0424 585 391. Otherwise, I hope you've had a fantastic week so far and I hope the second half is even better.