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
18th 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 with your Weekly Property Market Update for Kedron, Gordon Park and the surrounding suburbs. It is Friday, the 18th of November.
In Queensland, this week we had 1,205 sales, which is about on average for what we've been seeing in the last few weeks. 36% auction clearance rate, again about on average. I look at that auction clearance rate and I really just wonder why people go to auction at the moment especially—one third of properties are selling. It's not a very good clearance rate.
In the inner north we had 37 sales, which is actually quite a good number. Some notable sales:
87 Tenth Avenue in Kedron—that was a record breaker. So it's a big, five-bed home, 800+ square meters. Beautiful outdoor space and pool, right next to the park. That sold for circa $3.5 million, which is a massive record for Kedron. It's around $1,000,000 more than the previous highest price. And that's really reminisce with what I'm seeing in the market in that really nice, move-in-ready properties, especially the high end ones, are really still getting really good prices. Properties that have objections, renovations, main roads, flood zones, things like that, they've been hit quite a lot harder with the downturn we've seen recently for sure.
Another another big one, 29 Palomar Parade in Wavell Heights—that property is a four-bed on 630 square meters and that achieved 1.62. So still some very good prices happening in the area. But certainly we have seen a fairly significant downturn.
Say in the media this week: in October they've just released the results for October for our local area—prices dropped between 20 and $40,000 in the single month across October. The highest drop I seen was Wavell Heights where it dropped to $40,000, which is equivalent to about 3.6%. Most of the area somewhere around 2 to 2.5% over the month of October. The rental market still very, very tight under 1% vacancy rate. So still well and truly in a rental crisis, one positive that I noticed this week in the news is that for the first time over six record reporting periods, the consumer confidence has has gone up. Now, I'm hoping that becomes a trend means people are getting more confident in the market and getting more confident in the economy. But, obviously, a single report is more an outlier. So, we'll see what comes in the coming months. And, hopefully, people are feeling a little bit more positive about the economy, about the world and about our property markets.
At One Percent, lots and lots going on at the moment. We're working with a lot of different, a lot of clients across a lot of different areas which is really, really exciting for me.
We've got 5/9 Railway Parade in Nundah—that's a two-bed townhouse. That property is unconditional at $489,000.
2301/179 Alfred Street in Fortitude Valley—that one sold in the first week. It is now unconditional at $579,000. Comparable units in the building sat, selling for $532 - $550. So we were very, very happy with that result for our vendors.
New this week:
64 Childers Street in Kedron—it's $850,000. It is three beds, one bath, built-in underneath an extra two utility rooms, big laundry, four or five block of land. It's had a fresh coat of paint inside and out. It's got new carpets, new window fittings. It's a perfect entry-level property for someone looking to get into Kedron and move in before Christmas—it's ready to go. And our first open home will be this Saturday.
We've got offers incoming on a number of properties, but the ones we have in the market at the moment:
15 Belfort Street and Stafford Heights—stunning executive home, incredible views. I have received an offer today on that which potentially may move forward.
3 Chaplin Street, also in Stafford Heights—beautiful four bed, one bath. It's got a pool. It's got a big outdoor entertaining space—600, almost 700 square meter block of land, corner block, fully fenced. It's a cracker. We have an offer coming in that today as well, although none of these offers have been accepted yet.
24 Beeby Street in Wavell Heights—big block, six or seven block. It's got a pool. The house has got a lot of under roof space. Needs a bit of a facelift, but it's got a lot of potential. That one, we have a couple of interested parties, but no offers yet. We will be open on Saturday.
72 Imbros Street in Nundah—it's a near rectangle block of land. It's got engineered plans for a beautiful home on it. Pools already been installed. That one is currently available by private inspection and I can obviously send you the plans, if you are looking for a block of land; just let me know.
67 North Street in Kedron—four-bed, two-bath. It's at the top of the hill. It's on a big block. Fantastic opportunity to get into Kedron and a big house on the big block, for under a million dollars.
1 Deramore Street in Wavell Heights—that property is on for a million and fifty. Fully renovated, four-bed, two-bath, on the corner. It is a fantastic opportunity with a lot of potential, whether you're looking for a home for your family, whether you're looking for a home that has space for your home business or teenagers’ reatreat. There's a lot of potential with this property. And it's the renovations have been done to an incredible standard as well.
61A Broughton Road in Kedron—that is a massive 400+ sq meter home on a 700+ square meter block of land. It's in pristine condition. It's a bit dated in the style, but the actual condition of the home is fantastic and it's ready to move in again before Christmas.
Launching on Monday; we've got a number of exciting new properties:
15 Bass Street in Paddington—it's a three-bed, one-bath character home on a 405 block and one in Paddington’s best streets with fantastic city views out the back, big deck overlooking the city. It's really an amazing location.
We've got 95 Brook Street in Windsor—which is another renovator. This one is, obviously, in a fantastic little area of Windsor. It’s a character home, 405, ready for someone to come in and make it their own.
2/30 Railton Street in Aspley—is a massive 200+ square meter townhouse. That property will be launching on Monday. It was on the market previously. The contract, we put it under offer on the first weekend. The contract fell through. The owners decided to spruce it up a little bit and is now back on the market or going back to the market on Monday.
Finally to 2201/141 Campbell Street in Bowen Hills. It's a very neat and tidy two-bed, two-bath, two-car apartment. We'll also be launching on Monday.
If anyone has any questions or you'd like any more information on these properties, please get in touch: 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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