Weekly Property Wrap Up by Daniel Hooper of One Percent Property
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✅KEDRON, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS✅
19th of August 2022
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Daniel - 0424 585 391
Hi, this is Daniel Hooper from One Percent Property coming to you with your Weekly Market Update for Kedron, Gordon Park and the surrounding suburbs on Friday, the 19th of August 2022.
In Queensland this week we had 1,118 sales which is on the lower side, but fairly average of what we've been seeing in the last few months. 35% auction clearance rate. This was down from 74% this time last year. So a significant difference on the auction clearance there. In the inner north, there were only 12 sales which is significantly lower—probably a third of what we normally see. No real reason behind that. I think just potentially, you know, an odd week out. Some noticeable sales in our area:
105 Beaconsfield Terrace in Gordon Park. That is a five bed-home on 726 square meters. That property sold for 1,515,000. Look, noticeable, probably for the wrong reasons. I don't think that's particularly good results for a five bedroom home in a block of that size in Gordon Park.
49 Thirteenth Avenue in Kedron, however, is a fantastic result. It's a five bedroom home on 529 square meters in Kedron. On the Avenues. That property sold for 2,502,000, which is actually a suburb record.
So very, very good price is still happening for the really, really nicer homes that are coming out in the market at the moment.
In the media, prices are down 1.2% over the last 28 days. So that is accelerating a little bit. We're still up 20% over the last 12 months. So still a lot of growth over the last 12 months. But certainly it is…we're getting that correction at the moment which is what everyone said was going to happen. I think probably by the end of the year, it will start to level out. But I certainly do think there'll be a few more months of downward price movement. I guess on that note, it's, I guess, prudent to say It's a good time to look at what you're going to be doing with your property over the next few years. So if you're thinking about selling your property, you know, you're looking at potentially say…in the next say 2-5 years you're probably at the point now where the price is going to be the highest it's going to be within that time period. It's going to continue to go down. It's gonna level out and then at that point it's gonna stay there. If you're willing to hold your property for 5 to 10 years, then in my opinion look it probably will come back and go higher than it is now. But certainly, if you're looking at doing something with your home in the next couple of years, it's a good time to start talking to an agent, having a conversation, seeing what it's worth and seeing, I guess, where that fits in with your plans and how you want to go. If anyone would like to have that conversation, please feel free to give me a call: 0424-585-391.
The rental market at the moment is still very, very strong in Brisbane. So it's 0.7% vacancy rate at the moment, which is actually lower than it has been in recent months. So still from an investor's point of view, Brisbane is still a very attractive market at the moment, rental rates are still going up.
At One Percent this week, lots and lots happening.
So we settled on 39 Emerald Street. That property is a small 70 square meter, three-bedroom home. Sorry, two-bedroom home on 165 square meters. So the block size is only 165 square meters and we sold it for $840,000.
Also 153 Albion Road in Windsor that property is a development site: 700 m2. We sold that off market for $1.63 million, which is obviously a fantastic results, very busy location. So it's a good result for that property.
Under offer at the moment, 32 Figgis Street—we put under offer this week, off-market for a cracking price. We'll let you know once it goes unconditional. That one's in Kedron.
Also 21/66 Gamelin Crescent in Stafford—beautiful, three-bedroom apartment. That one we also put under offer on the weekend after five days on the market. So properties are still moving quickly. Some properties are still moving quickly, some are taking a little bit longer. The important thing is that I'll keep working on it until we get the result.
On the market at the moment, we have
36 Belnoel Street, Wavell Heights. Big family home recently repainted, redone the bathroom, downstairs as well. So it's a lot a lot going on with that property. It's very attractive. It's in a good street. It's on a big six or seven-block .
54 Somerset Road—it's a renovator in a fantastic position in Kedron. It's a cosmetic renovator, 306 square meters, 300 odd square meters, sorry, under roof. So it just needs a really, really good cosmetic touch up. It's a fantastic area of Kedron though. It's just down the road from Padua.
1 Mylne Street in Chermside, It's renovated. It's a three-bed, one-bath home with a one-bed, one-bath granny flat on a large 600 plus block on the border of Wavell Heights. It's a good opportunity if you're looking to get into that area at an affordable price and
125 Kirby Road in Aspley. That one is, again, entry-level to…actually it's a good opportunity it’s a good property and lots of potential.
Coming soon. We have launching next week:
3 Achilles Street in Kedron. It's a beautiful, big home, four beds, two bath, three levels. It's got a pool, it's got panoramic views. It's literally located at the highest point in Kedron. So it's a really, really exciting opportunity.
66 Sixth Avenue also in Kedron, they'll be launching on Monday as well. That property, it's a large two-bedroom home. So it's 115 square meters internally on the upper level, which is more than big enough to turn into a three-bedroom home just by moving a few walls or you could obviously do a raise and build out underneath. There is potential for that property to be valued around the $2.5 million range if you do really nice renovation. It is five doors down from the Kedron brook so it's an absolutely stunning location. Really, really good opportunity to get a big block 607 block in a fantastic area.
Also, 7/18 Kedron Street in Wooloowin—really, really nicely renovated. One-bed, one-bath, one-car apartment on a really good street of Wooloowin near the train station but not too near. That one is starting off market for the next couple of weeks and then we'll be looking to take it onto the market if not already sold and
24 Beeby Street in Wavell Heights. That one is a partially renovated. Larger, sort of, three-bedroom home with a downstairs that's not legal height. It's got a pool, it's got a big backyard, it's on a quiet street. Good opportunity will be coming to the market in the coming weeks as well.
If you have any questions about anything that I've said today, if you have any questions about the market or if you'd like to get a value update on your property, please give me a call 0424-585-391.
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