Kedron & Surrounds Weekly Property Market Update 17.06.2020
Daniel from One Percent Property here with your weekly market update.
Lots to talk about this week with another fantastic week in the Brisbane Inner North property market!
Do you have any questions or 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, for Wednesday, the 17th of June 2020.
So what has been happening in our local property market? Good news, it's going from strength to strength. We had a good week last week, had a great week this week. So all things are positive. Everything is really looking up for Brisbane property. Queensland had 851 sales across the state over the last seven days, with an auction clearance rate of 65% compared to 45% this time last year. And how good is that, when we're coming out of such a horrible event, to really be showing so much strength. In the inner north area, the band around Kedron and the surrounding suburbs, there were 10 sales. So a little bit subdued, but don't forget, property does take a little bit of time to register. It's a little bit of a delay between sales and settlements. So I'm expecting that number will pick up over the next four weeks, and I'm sure it'll be a lot higher next month.
What an interesting market we are in at the moment. We have the lowest cash/borrowing rate in the history of the country. And now the government wants to pay your renovation costs. What that means is there's a lot of buyers in the market. Buyers are out in force and sellers really are not. So we've got a lot of demand and not so much supply. That is really, really good, if you're thinking about selling your property. This can be seen clearly when looking at the local market and the local activity. We took 2 Eastgate Street in Carina to market on the 1st of June. That property is already on conditional. The price was a street record. It was a fantastic result for the vendors, and really, really happy vendors and happy buyers. So it was great for everyone involved.
Number 3, at 28 Figgis Street. Again, we took that on the 8th to market. We had four offers in the first week, and took that under contract. We should go on conditional on that on Monday, for another fantastic result. And 13 Sylvia Court, that one we had two offers come through in the last seven days. And we've taken that under contract as well, exceeding the vendor's expectations for the price. So really, really good results all round and really, really happy vendors, which is all you want to see when you work in real estate industry.
Coming soon, we've got number 3 at 18 Fifth Avenue in Kedron. It is a gorgeous town home, beautiful big courtyard, located on the Avenues, walking distance to the Kedron Brook. Really, really a must-see if you're looking for that sort of house, if you're looking for a townhouse. We've also got 78 and 19 Doughboy Parade in Hemmant. That's another one on the south side, but really, really nicely renovated, beautiful dark cabinetry. Another must-see if you're looking in that area. And we have one more property coming. I'm not going to say what it is yet, but another one on Figgis Street. We've sold 23 Figgis Street. We've sold 23B Figgis Street. We've sold 3 at 28 Figgis Street. And we've got another property coming on Figgis Street. So we're taking over the street. But if you're looking for a really nicely renovated two-bedroom apartment in the area, please get in touch. It will be coming to the market soon.
On that note, if anyone has any questions about property, anyone in the Kedron and surrounding areas thinking about selling, or would like an updated value on their home, please give me a call, 0424-585-391. I'm happy to chat to you about anything, happy to help in any way I can. On that note, I hope everyone has had a fantastic week so far. I hope the rest of your week is even better. And I look forward to talking to you soon.