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
10th of February 2023
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Daniel - 0424 585 391
daniel@onepercentproperty.com.au
Hi, this is Daniel Hooper from One Percent Property coming to the Weekly Market Update for Kedron, Gordon Park and the surrounding suburbs. It is Friday, the tenth of February 2023.
Over the last seven days, we had 1,141 sales in Queensland. That's jumped up a little bit from the last two weeks, which is positive. Auction clearance rate of 32% which is, again, pretty low. But that's what we've been seeing in the last six months. In the inner north, 23 sales which, again, has jumped up, which is good news. A couple of notable sales really, the Kedron Avenues seem to be holding value quite well. People still want to be down by that school. They still want to be down by the park.
So 48 Seventh Avenue, Kedron—three beds on 405 square meters sold for 1.45. That's a good result.
65 Eleventh Avenue, Kedron—three beds on 607 square meters sold for 1.2. Both very good results and again, shows that the Avenues as a desirable part of Kedron is really retaining quite a lot of value, which is good.
In the media this week, obviously, the big news is the rates are continuing to rise another 0.25% this week. That it makes it 3.35% as a base rate. February last year, the rate with 0.1. So, it's gone up 33.5 times since then, which is the fastest rate rise cycle in Australian history, actually. I do think it's, hopefully, going to slow down in the coming months, but certainly the rate rise has had an effect on consumer confidence, which was down 3.2 points and its lowest point since the start of 2023. Price decline, again, is remaining pretty steady in…I don't think it'll change until the rates decisions start to change. So, another 1.2% roughly over the last 30 days. Local price point information not released yet, but I will update you on that when it is. Median rent, however, is up around 10% over the last 12 months with a vacancy rate of 0.8%. So, very low vacancy rates and rents are going up. That is a positive thing, obviously, for investors, not so positive for renters. So, sort of two sides of the coin there, but certainly, the rental market is doing a lot better than the sales market.
At One Percent Property at the moment, lots and lots going on. Plenty of homeowners have trusted me to help with the sale of their home, which I'm very thankful for.
3311/35 Burdett Street in Albion—that property is unconditional. We sold it in one week: $395,000. It's a single bed apartment, so, fantastic price there.
95 Brook Street—that one was back on the market last week after we had a crashed contract. That's in Windsor. It is now back under contract just waiting on the conditions, hopefully, to be fulfilled in the coming weeks.
In Kendron at the moment, we have got a lot going on. So, we have got 9 properties listed individually in Kedron.
So, 61A Broughton Road—that one is a battle axe block, large blocks, 769 square meters, massive house over 400 square meters. Very, very unique opportunity for dual occupancy in a fantastic part of Kedron.
23 Glenhaven Street—three-bed, one-bath, partially-renovated big pool in the backyard, just under 600 square meter block of land. Very unique opportunity.
25 Glenhaven Street—directly next door, it's the same size block. It's a larger house. It's fully renovated top-to-toe, three-bed, two-bath and it is actually a beautiful home, so really, really nice opportunity.
Coming up:
31 Armentieres Street—one of Kedron’s best streets right next to Padua, dead end. So very, very safe and secure. It's a four-bed, three-bath, three living space, two-kitchen home on a 612 square meter block. So, it's a beautiful property we'll be launching next week.
24 View Street in Kedron—we launched that this week. Four beds, two-bath, beautiful, high-set executive home. Large corner block in a good part of Kedron.
67 North Street—four-bed, two-bath. Great street, home needs a bit of love and care, but it is a good opportunity to get into one of Kedron's best streets.
134 Leckie Road—that one is a development opportunity or potential opportunity to put a home. It's a 559 square meter, low-medium residential block. It has a post-war home so you can basically do whatever you want with it. It's got a tiny bit of overland flow right at the back of the block, but nothing that affects more than maybe 50 centimeters into the block at all. So, it's a very, very good opportunity to get into Kedron, to get into near the Avenues at a very affordable price.
At 32 Childers Street in Kedron—that one is, actually, under offer…unconditional this week. I sold it in seven days after it was on the on the market last year with an agent for about 4 months.
14 Evans Street in Kedron—it's a four-bed home on 405 square meters. Not quite ready to come to market yet, but certainly off-market if anyone is interested in getting into that area, this one is available.
On the market at the moment, outside of Kedron, we have:
5/22 Onslow Street in Ascot—really neat and tidy, modern one-bed, one-bath, one-car apartment,
19 Parkham Avenue in Wavell Heights—812 square meters. It's already split on two titles. Great opportunity for development or someone looking for a really big block of their family home.
72 Imbros Street in Nunda—401 square meter block of land. It's in a great street in a good part of Nundah. It's flat, it's already got the pool installed. So, it's a good opportunity if you're looking to build and
1 Florentine Street in Chermside West—three-bed, three-bath. Beautiful, high-vaulted ceilings, double-brick construction, elevated position overlooking the suburb. Very, very unique opportunity.
Coming soon, we have:
4 Park Avenue in Alderley—it's a stunning, big, four-bedroom home, very modern. It's on a smaller block in the 200 square meter-range, but very, very unique position near the train station, on a good street and, again, you get a massive home on a small maintainable block for a very reasonable price.
5 Victoria Street in Brighton—two-bedroom home. It's a renovator or knockdown, but it is about 150m away from the ocean but a very, very good position in Brighton.
Proposed lot 62 Cowie Road in Carseldine—it's a 450 square meter block of land. The development is not yet finished but, certainly, the block is ready for you to purchase and start your design on your home. We will be partnering up with building brokers to put together some different designs and prices on the property as well and they will be able to sort of guide you through everything as well, if you do make decision to purchase that one.
Finally, 9/27 School Street in Kelvin Grove—two-bed, two-bath, one-car. Good part of Kelvin Grove, reasonably modern building and that will be coming up in about two weeks as well.
So, lots and lots of properties on the market, plenty of properties coming up. If you have any questions about any of them or if you'd like to get an update on the market or what your property is worth, please give me a call. You can get me on 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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