Kedron and Surrounding Suburbs Weekly Market Update
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✅
2nd of September 2022
----
Thinking of selling your home?
Sell with Kedron's Agent Of The Year and you choose our commission AFTER the sale!
Daniel - 0424 585 391
Hi, this is Daniel Hooper from One Percent Property coming to you with your Weekly Property Market Update for Kedron and the surrounding suburbs, on Friday, the 2nd September 2022.
So in Queensland, over the last seven days: 1,144 sales—which is about on par with what we've been seeing. The auction clearance rate was only 27%. That's down on 74% this time last year, the lowest we've seen. Hopefully, it's gonna sort of level out and, you know, maybe start to come up a little bit, but we will see. In the inner north we had 28 sales which is a good number, shows a lot of properties changing hands.
Some notable sales:
15 Eigth Avenue in Kedron, is a four-bed home on 405 square meters that sold for $1.65 million.
Another four-bed home, 63 Somerset Road—that is four beds on 405 as well. That sold for a million and 20—really shows in Kedron how much of a premium price the Avenues location adds to the value of a property. You know, down being near the park. In that section of Kedron, you can add hundreds of thousands of dollars to the value. Also, why it's very important that you work with an agent that understands the area and knows the area to make sure that you're not making a mistake based on different price pockets within a suburb.
In the media this week, the prices are still going down but it does seem to be easing in Brisbane and ? in Sydney and Melbourne. So, whether that's an anomaly for one month or whether that's a trend and we're gonna start to see the prices ease and level out towards the end of the year, that's what I'm hoping for. It's gonna be very dependent on the rates announcement next week, of course. There's a lot of speculation. It could be half percent, it could be 0.25. If it's 0.25, I think we're on track are starting to see property prices level out. Having said that, we are down between 3 and 6% since April, across different areas of Brisbane. Around Kedron, Gordon Park surrounding suburbs, around 3 or 4% down. There's no doubt about that prices have dropped. Certainly the crazy prices we're seeing last year, the emotional offers—a lot of them are not happening anymore. But I'm really hoping that, you know, we're towards the bottom end of the reduction and then it's not going to continue well into next year.
One positive for people that own properties, especially investors, is rent is still on the rise. So the average rental in Brisbane has gone up by 14% this year, which is massive. Obviously, if you do own property, it does mean more rental yield. The downside of that, obviously, is it puts more stress on people that are renting. So it's, it's a positive and a negative thing but certainly looking exclusively from the side of home ownership and you know price growth and stuff like that—it is a positive thing that rents are going up.
At One Percent this week, again lots going on in our local area.
So 54 Somerset Road which is just down from Padua there. That one is under offer. It is not yet exclude…not yet unconditional. So I cannot let you know what the prices but I will keep you posted once I can.
Also on the market at the moment we've got some really beautiful properties across the inner North:
36 Belnoel Street in Wavell Heights. It's big family home. It's available. It's very, very well priced. It's on a big block 607 block. And that one is available for sale at the moment.
We've got 3 Achilles Street which is a big beautiful home at the top of the hill there. The highest point in Kedron. Panoramic views. It’s four bedrooms, three stories. It's got a very high pitched roof. So potential to add another another sort of attic or loft storey in the roof as well. So that's a very, very cool home and it's a very good location.
66 Sixth Avenue in Kedron. Again, big block, 607 block—five doors down from the Kedron Brook. It is a premium location. There was a property in a similar location on 13th Avenue that sold for $2.5 million recently. Premium location. It's a big, two-bedroom house—can easily be converted into a three-bedroom just by moving a couple of walls. And it's on a big 607 block. So lots and lots of opportunity with that one.
Number 1 Mylne Street in Chermside. It's been renovated. It's two residences: a one-bedroom granny flat and a three-bedroom house. It's on a large block and it's on the border of Wavell Heights. So it's a very good location. Also, currently, on the market and
125 Kirby Road in Aspley—that is an entry-level property into Aspley. Priced in the seven hundreds. Very, very good value and again potential to add value to that property in a number of different ways. So, lots and lots of good opportunities in the market at the moment.
Also off market, I have a property on Broughton Road in in Kedron. Again, it's a big, big home. So, it's actually seven bedrooms. The main residence is sort of spread across a single level. So if you're looking for something without stairs, this home could be perfect. At the rear of the home is a big rumpus, plus a second level with two bedrooms and a bathroom as well. It's got a pool. It's on 700 almost almost 800 square meters. It is set back from the street so it's very, very quiet. It's brick build, it's got parking for six cars. Very, very unique opportunity. So if you think it might be interested, give me a call and then also coming soon—we've got a number of really exciting properties:
So a beautiful four-bedroom home on Ford Street in Clayfield will be launching in the coming weeks.
Another fantastic home on a big block in Wavell Heights: three beds. It's got a lower level, that's not quite legal height but very usable. It's got a pool, it's a brick build. So that will be coming in the coming weeks as well.
And also a cracker entry level home into The Gap.
So if you think any of these properties might be suitable for you, please give me a call. My number is 0424-585-391.
The one final thing I'll mention is I'm trying to raise money for Food Bank’s Hunger Drive. We've been doing it for just over 24 hours, already raised close to $3000. Basically, I'm running 100 kilometers over the course of September and also, any money donated up to five grand—I will match one for one out of my own money. So hoping to raise a lot of money for FoodBank. $1 can provide two meals for them. So, we have potential, if we hit our goal of $20,000 to provide over 20,000 meals, which is a lot of meals for families that are in need. So, if you have the capacity, any donations, anything 5, 10, $20—anything would be really, really appreciated. Otherwise, I hope you've had a fantastic week so far, and I hope your weekend is even better.
Comments