Kedron and Surrounding Suburbs Weekly Market Update
Weekly Property Wrap Up By Daniel Hooper Of One Percent Property
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KEDRON, GORDON PARK, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS
2nd of December 2022
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Daniel - 0424 585 391
daniel@onepercentproperty.com.au
Hi, this is Daniel Hooper from One Percent Property coming to you with your Weekly Market Update. It is Friday the 2nd of December 2022.
Over the last week in Queensland we had 1,212 sales, which is about on average what we've been seeing. Auction clearance rate of 33%—a little lower, but still definitely within the bandwidth of what we've been seeing over the last few months. In the inner north, we had 23 sales—again, very much on par. Not a lot of change with what's been going on over the last few months.
Some notable sales:
12 Gunner Street in Kedron—three beds, 607 square meters. It's good condition home that sold for $1.27.
200 Flockton Street in Everton Park—four beds on 598 square meters. That one sold for a $1,002,000.
29 White Street in Wavell Heights—three beds on 607 again, very well presented, sold for $1.31.
Those sales really, just to reiterate what I've been seeing myself in the market, is that properties that are really well presented, ready to move in and don't have many objections are selling fast and getting great prices. Properties that have objections such as flood zones, main roads, renovations, other bits and pieces like that, are much more challenged because people a lot more fussy at the moment.
In the media at the moment, again, very much on par with what we've been reporting over the last few weeks. So prices are dropping around 2% month on month. That is not really changing across Brisbane. Experts are forecasting that next year it's going to continue to drop but it will start to ease. So, I'm hoping that sometime in the next six months or so, we'll see the curve sort of bottom out and we'll see properties level and then probably be quite flat for a while. It is, obviously, very dependent on external factors. So, we're looking at rates, we're looking at global factors such as war and supply and all the other bits and pieces and, obviously, that's having a big effect. And I think that's why the external factors are why we're having such an issue with renovators and properties that need building, land, things like that because, obviously, there's still big supply issues. There are still issues with trades. So, people are less willing to take on renovators. They want to have something that they can move straight into which means properties that are move-in ready are really well presented, obviously, are more in demand at the moment. Properties that need work are a little lower. Having said that, look we're still getting them away, it's just taking longer. So, whereas it used to take a week or two weeks, now it's taking 6 to 8 weeks, especially for those renovated properties.
So at One Percent this week:
3 Achilles Street in Kedron—that is sold and settled. We sold that for $1.35 million—cracking home in a great location and a really, really lovely vendor, really lovely buyers. So, I'm just happy to be able to be involved in that deal.
15 Bass Street in Paddington—that one is under offer after the first open home.
2/30 Railton Street in Aspley—that property was under offer. The contract fell through. Under offer again after the first open home.
Open homes tomorrow that we have on, we've got:
24 Beeby Street—brick-build almost 300 square meters under roof. It's on a big 607 block, it's got a pool, there is work to be done, but it's priced accordingly in the early 900s. That is open at 8:30AM.
1 Deramore Street—fully renovated, four-bed, two-bath. It's on a corner block. It's a cracking opportunity to get into Wavell Heights in a fully renovated home that is move in ready. We’re pricing that at a million and fifty.
64 Childers Street in Kedron—three-beds, one-bath, built-in underneath not legal height, 405 block. It's had a fresh coat of paint, it's had fresh carpets, it's ready to move in before Christmas and that one is 850.
67 North Street—this property is a four-bed, two-bath. It's got certainly some work to be done, but it's all cosmetic. It's in a big block, 607 block. It's in a great street in Kedron. That one’s priced at 950.
95 Brook Street, which is in Windsor—it's a low-set, three-bed, one-bath home on a 405 block in a quiet street in Windsor, priced at 900.
Finally, we have 2201/ 141 Campbell Street in Bowen Hills—two beds, two bath, two-car apartment. Very unique. Don't normally get apartments with two cars if there are any two bedrooms. That one is at 450. We’ll be open at 2:30 tomorrow afternoon.
Lots and lots going on. We've got a couple of blocks of land as well, one in Nundah, one in Bridgeman Downs. So, very much a full scope of properties available if you're interested or you'd like to have a chat about what you're after, please give me a call: 0424-585-391. Otherwise, I hope you have a fantastic day so far and I hope that your weekend is even better.
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