Kedron & Surrounds Weekly Market Update 10.06.2020
Daniel from One Percent Property here with your weekly market update.
This week I discuss
- The Property Market Is Gaining Strength Every Week
- Corelogic June Property Report Statistics
- Buyers Are BACK! What a fantastic time to sell.
- 2 Eastgate St + 3/28 Figgis St Under Offer In Less Than 7 Days!
Would you like to get an updated value on your home?
Call Daniel - 0424 585 391
Hi, Daniel from One Percent Property here, coming to you with your Wednesday weekly market update on this chilly Wednesday, the 10th of June, 2020. The good news is, the only thing that's cold in Brisbane right now is the temperature. The property market is doing great things.
Across Queensland over the last week, we had 828 sales, which is almost back at pre-COVID level, which is really fantastic and shows that market activity is coming back. There were a couple of sales in 4031, one in 4030, we had two in 4051 and four in 4053. You can see there's more sales coming back to the market. More people are buying and selling locally, which is obviously great news for property owners. Great news for people thinking about selling their home in the near future.
CoreLogic also released their June report over the last seven days. Unfortunately, prices have dropped in Brisbane......by 0.1%, which is hardly the 20 to 30% that everyone was predicting in these media articles over the last few months. Annually, we're still up 4.3%, which really shows that our market so far has stayed strong and that things are looking pretty good in the Brisbane property market.
Consumer sentiment is also rising. As we move out of this period of uncertainty, people are seeing the light at the end of the tunnel. People are seeing that everything's starting to reopen, and people are having more confidence in both the economy and the property market, which is great news. These are all good things, and it's reflecting locally in what we're seeing in the local market.
Two weeks ago on Monday, we took 2 Eastgate Street to market. That property was sold in less than seven days for a fantastic result. We had a couple of offers come through. We had more than 50 viewings. Congratulations to my vendors, Jeff and Renae, and good luck in your new life in Tasmania.
We also took 3/28 Figgis Street in Kedron to market on Monday, last Monday. That property again had more than 50 viewings over the first week. We had three offers come in, and we took that one under contract in less than seven days as well. Congratulations to my vendors, Charlie and Vanessa. A beautiful home and a fantastic result.
What you can see from this is that there are a lot of buyers in the market. There are a lot of people looking to buy their next home regardless of what's going on in the economy. Out of just those two inspections, those two properties, we had 98 buyer groups that did not get their home. These are people that are in the market, they're looking for their next property.
If you did have thoughts of selling your home or you would just like to have a chat about it and maybe get an update on the value, please give me a call, 0424585391. Otherwise, thank you for tuning in. I hope you have a fantastic second half of your week. I look forward to talking to you soon.