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, GORDON PARK, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS
4th of November 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 on Friday evening, it's the 4th of November, with your Weekly Market Update for Kedron, Gordon Park and the surrounding areas.
So, in Queensland this week we have 1,203 sales which is basically on par with what we've had over the last few weeks. 33% auction clearance rate. Again, on par with what we've had, but still quite low. In the inner north, we had 27 sales, which is actually quite a good number. So there's some good properties—a good number of properties changing hands locally, which is probably the most positive thing out of the statistics for this week.
Some notable sales:
47 Gordon Street in Gordon Park. Three beds on 539 square meters. That sold for $1.28 million. That's a good result for for the size of the home and the finish of the home.
79 Clifford Street in Stafford. That's five beds on 607. It's a new build and it sold for just over $2,050,000. So, you know, we're still getting good prices in the local area.
In the media this week, rates went up by 0.25% this month. That's largely on par with what people were expecting with the increased CPI last month. It could have been half a percent. So, I think that's not a negative thing—that went up by 0.25. We'll see how it plays out over the next six months and how much higher it goes. Obviously, once inflation starts to slow down the rate rises will also slow down. Brisbane last year, I was saying we were the fastest growing city. Unfortunately, now taking the cake where the fastest price drop as far as monthly price changes go. So, over the last 30 days Brisbane prices dropped by 2%. Sydney's dropped by 1.3 and Melbourne's dropped by 0.8. So, as I've mentioned this before but generally Melbourne and Sydney are precursors and run a little bit ahead of Brisbane. So, I'm hoping this means that they're nearing the bottom of their curve, which means in 3 to 6 months time we’re near the bottom of our curve as well. But there definitely could be some some significant price drop between now and then. So, if you are thinking about selling in the next 6 to 12 months—my advice would be do it quicker. Do it sooner rather than later because the price change between now and January - February could be another couple of percent for sure.
At One Percent Property this week, lots and lots going on.
So, we put 54 Somerset Road in Kedron back under offer. Unconditionally this time $950,000. That one took a while, we had it under offer. There was an issue with the first contract but again, persistency—kept pushing. Eventually, we got there and, obviously, the vendor is very happy with that.
5/9 Railway Parade in Nundah is under offer. It's not yet unconditional. That one took about four weeks to get under offer which is around what we're seeing in the market at the moment. The days of the 5-day sale are not really happening anymore. They happen sometimes but not often.
Just listed, just launched:
we've got 67 North Street, four-bed, two-bath, multiple living spaces, 625 square meter block of land in Kedron.
72 Imbros Street, which is a 400 square meter block of land—ready to build on. It’s got plans, engineering. It's got builders lined up with estimates ready to go if you're looking for a new home or a block to build your dream home on, this one is fantastic.
And 2301/179 Alfred Street, that is in Fortitude Valley. It's in the NV Peppers Building. This building has the best facilities I have ever seen. Really, really amazing facilities and it's a great unit—85 square meters. So, all of those launched this week.
Also got a couple of properties that are currently being marketed exclusively to my database:
64 Childers Street in Kedron. It's a three-bed, one-bath, high-set home, built-in downstairs. It's got a fresh coat of paint in and out. It's got fresh floors and it's ready to move in. That one is currently being marketed at 850+. It's only available through my database so if you're interested, please give me a call.
Also, we have 15 Belfort Street in Stafford Heights. It's a stunning four-bed, two-bath, family home. Master ensuite, big yard, incredible views, big deck. It's a lovely, lovely home. So, if you're looking for a big executive home, $1.35 to $1.4 million range, please give me a call.
Also open tomorrow, we have still on the market:
we had 1 Deramore Street in Wavell Heights—which is a fully renovated, four-bed, two-bath home. It is a very, very well-valued home for what is on offer in Wavell Heights.
Also 24 Beeby Street—three-bed, two-bath, partially renovated brick build. It's got a pool, it's got a big block of land. Lots and lots to offer with that one as well.
If you have any questions about any of the properties that I've mentioned tonight, if you would like to get an update on the value of your home or you have questions about the market or there's anything else I can do to be of assistance, please feel free to give me a call: 0424-585-391. Otherwise, I hope you've had a fantastic week so far and I hope your weekend is even better.
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