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 17th of March 2023 Thinking of selling your home? Sell with Kedron's ONLY real estate office and you decide our commission AFTER the sale! Daniel - 0424 585 391 daniel@onepercentproperty.com.au www.onepercentproperty.com.au https://facebook.com/onepercentproperty https://instagram.com/onepercentproperty
Hi, this is Daniel Hooper from One Percent Property coming to you with your Weekly Property Market Update for Kedron, Gordon Park and surrounding suburbs. It's Friday, the 17th of March 2023.
This week we had 1,195 sales across Queensland with an auction clearance rate of 41%—roundabout on par with what we've heard the last few weeks. Definitely, quite positive, so it's good numbers changing hands and a decent auction clearance rate for Brisbane. 34 sales across the inner north area, which is actually quite a lot more than we've seen in recent weeks. So, definitely very positive there as well.
A couple of notable sales:
34 Wallin Street in Kedron—that is a beautiful, five-bedroom home on 810 square meters which sold for $2.4 million.
114 Somerset Road also in Kedron—three beds, 642 square meters. It sold for a million and 25. It's in a very, very good area in Kedron right near the schools, definitely, a very sought after area, the property directly next door holds the record for the highest sell on a 405 block. So, definitely a very, very sought after area, obviously, due also to the proximity near to Padua and the other schools,
25 Willis Street in Gordon Park—four beds, 405 square meters, nice, beautiful executive home—1.831. So, definitely still a lot of really good prices in the local area. Despite the fact that we have seen a tumble in the median price point, it's still significantly higher than it was two or three years ago.
In the media this week, the biggest thing that I've noticed this week is we had our local price data released by Corelogic. Now, that's, obviously, suburb focused. It's much more accurate than the Brisbane as a whole. Looking at the local price data, first time since April that I've actually seen it really start to slow down—the decline in price, really start to slow down. So, I'm holding out hope that this means we're at the bottom of the cycle. Some suburbs such as Kedron, Stafford and a few other suburbs in the area dropped between zero and 1% which is a lot less than the 2 - 3 - 4% that we've been seeing. Some suburbs were flat. So, Gordon Park first time since April last year, the price did not actually move between January and February. So, that's all very positive. And there are really two potential options here. The first of two potential scenarios—the first is that we're at the bottom of the cycle, which is, obviously, ideal. I'm hoping that's the case means property prices will level out and stop dropping and things are going to start to look a bit more positive. The fact that we're seeing a lot more buyers in the market, we're seeing a lot more interested enquiry is also quite a positive sign. The second potential scenario is that we're in the eye of the storm that we're going to get more bad financial news. We're going to get more rate rises, the banks collapsing in America is going to spread over here and we're going to see more price drops. So, hopefully we're looking at scenario A, but, obviously, I'll be keeping an eye on the markets. Keep an eye on what's going on and letting you know each week during our chat, how things are progressing in our local market.
At One Percent Property, this week. What's going on?
5/53 Seventh Avenue in Kedron—that is unconditional. It’s a two-bedroom apartment. We sold it in five days. We had six offers on the table and it's a record price for that particular complex. There was another unit, exact same type of unit in size in the same complex that was sold a couple of months ago by another local agent. They sold that for 400,000. I saw this one for 432,000. So, it really shows the importance of choosing the right agent. That's really going to push to get you the best possible price and it was unconditional in seven days. So, it's very, very strong offer as well.
32 Childers Street is settled. That property again—it was on the market last year, for I think four months, with another agent. We sold it in one weekend essentially. So, that one is now sold and settled.
31 Armentieres Street is under offer—beautiful, catering executive home, under offer for a fantastic price. Not yet unconditional, but I'll let you know the price once it is and
5/54 Sixth Avenue also in Kedron—that one is coming soon. It's a very, very well-appointed and well-laid out, two-bedroom, one bathroom apartment. Sixth Avenue is a stones’ throw to the park, city glimpses off the balcony. It's a very, very good offering and we come to the market the next couple of weeks
Also 29 Balal Street which in Stafford—that was probably a few weeks off, but it's just at the back of the school over there. It's a renovator or a knockdown, but a good opportunity to get a good block of land in a great area.
On the market at the moment, we have:
24 View Street in Kedron—four-bed, two-bath will be open tomorrow at 9AM.
We've got 23 Glenhaven Street also in Kedron—that one’s a three-bed, one-bath. Very livable but also lots of potential to add value open at 10AM.
25 Glenhaven Street next door—fully renovated three-bed, two-bath that's open at 11 tomorrow.
4 Park Avenue in Alderley—very unique, big four-bed, two-bath home with two living spaces on a small 211 square meter block of land. That one is open at 12 tomorrow.
And finally, 9/27 School Street, which is open at one p.m. in Kelvin Grove.
Also opened by a opportunity to inspect via private inspection, 134 Leckie Road in Kedron—it is a unique property. It's got a post war home, there's ability to potentially develop it as it is low medium or as as well.
If you have any questions about any of the properties that I have discussed today or you have any questions about what's going on the market or you would like to get an update on the value of your home, please feel free to give me a call: 0424 585 391.
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