Kedron and Surrounding Suburbs Weekly Market Update (coming to you a day late)
Weekly Property Wrap Up By Daniel Hooper Of One Percent Property
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KEDRON, GORDON PARK, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS
7th of October 2022
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Daniel - 0424 585 391
daniel@onepercentproperty.com.au
Hi, this is Daniel Hooper from One Percent Property coming to on Friday the 7th of October with your Weekly Property Market Update for Kedron, Gordon Park and the surrounding area.
So this week we had 1,259 sales across Queensland. The auction clearance rate was 36% so sale numbers are up about 20% on last week’s auction clearance rates—fairly similar. 23 sales in the inner north.
Some notable sales:
19 Chaplin Street in Stafford Heights. That is a 3-bedroom home on 587 square meters. That sold for $971,500.
31 Vale Street in Wavell Heights. That is a 2-bedroom home on 405 square meters. That’s all for $860,000.
And 16/8 Mercer Avenue on Kedron, 2-bedroom apartment that soldfor $580,000.
So apartments are still…and townhouses are still outplaying houses at the moment which is interesting because, obviously, the last couple of years houses have been much more popular. Obviously, with the way the houses have increased in price, a lot of people don’t have the budget for them anymore. So, they are looking at apartments and townhouses in order to stay in a really desirable area.
In the media this week, very positive news is that we’ve had 0.25% rate rise. Now, the reason I say that’s very positive is because in the short term, what it’s going to do is bolster consumer confidence because people can see light at the end of the tunnel. Essentially, it’s not constant 5.5% price rises. It’s now starting to slow down so people will actually come back out and start buying. People will not be as worried about where rates are potentially going to go. Also, across the board, the national rate of decline in the property market has started to slow. Brisbane ever so slightly, so you know, two weeks ago, 0.5% decline. This week, it was 0.3%. So, I’m hoping that obviously, continues. I do see the light at the end of tunnel. I do think we’re near the bottom. You know, we’ve had 10 – 10+ percent price decrease in our local area over the last six months since April. But I do think we’re at the bottom of the of the trough and I think we’re going to have an elongated period of probably not a lot of action just very, very flat prices. It looks like unit prices have also peaked, so they’ve been going up since April but the first decline was over the last 30 days. So, I think unit prices also may have reached a peak as well. Which means if you do have a unit that you’re thinking about selling, its potentially a very good time to get that moving now while prices are good and demand is still very high.
At One Percent Property another big week. You know, even with all the price decline, we’re still selling properties. We’re still getting owners very good prices.
15 Ford Street—that us a property in Clayfield. 4-bed, 2-bath, high-set Queenslander character home. Had it on the market a few years ago with a different agent who was unable to sell it. We didn’t even make it to realestate.com. We sold it through my database for $1.6M. It is now unconditional and, obviously, very happy vendors, very happy buyers.
331 Ellison Road, that one took a while to sell because it was a very unique property but we stuck at it. We were persistent and we got it under contract in the mid 1.2 which is a fantastic price for a property on the main road in Geebung.
The property at 3 Achilles Street I mentioned a couple of weeks ago, we had it under offer. Unfortuantely, that offer fell through a few issues with the initial buyer. Within 24 hours of the offer falling through, we had 4 different buyers through that property. One particular buyer is very interested andan offer has come through and I believe we will have it back under offer this weekend. So, it’s really, really important that you work with an agent that continues to work after the property goes under offer to ensure that there are backup options.
Just listed: 17 Arkin Street in The Gap. It’s a cracker property. It’s a very good—very, very good entry-level property into The Gap. 4-bed, 2-bath single-level brick home. 600 square meter block of land. The price tag is under 900. So, very, very good opportunityfor both investor or homeowner.
Coming soon—lots and lots of local properties so we have:
61A Broughton Road in Kedron—very unique home. It’s a battle axe block. It’s close to 800 square meters. It’s got parking for 6 cars, massive pool, massive undercover outdoor space, seven bedrooms. Majority is spread out across the single level. It does have a double-storey area at the back. It’s got 2 living spaces. The area at the back of the double storey area can be self-contained. It’s got a little kitchenette in there—it could be used as a granny flat with its own entrance. So, lots and lots of potential for this property. It will be an interesting one and I think we’re going to get a lot of different types of buyers that see value in what it offers.
5/9 Railway Parade in Nundah, 2-bed, 2-bath, 1-car townhouse. It’s a modern build about 5 or 6 years old. It’s on a good street near the train station. It’s a good opportunity at a great price.
1 Deramore Street in Wavell Heights, a brand new renovation. Not even finished yet. We’ll be finishing next week and we’ll be taking photos and getting on the martket straight away. 4-bed, 2-bath, good block, good location near the parks, near the bus stop and as I said, beautifully-renovated and ready to move in. So, that one will be launching next week as well.
And 24 Beeby Street—3-bed, 2-bath, brick build. It’s got the main residence upstairs. Downstairs is a usable area that’s not legal height. It’s got a pool and it’s got a big block over 600 square meters. So, a lot of good properties coming up, a lot of opportunities.
If you have any questions about any of these properties, please give me a call. Otherwise, if you have any questions about the market or there’s anything else I can do, please also get in touch: 0424-585-391. Otherwise, hope you had a fantastic week so far and I hope the weekend is even better.
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