Kedron and Surrounding Suburbs Weekly Market Update
Weekly Property Wrap Up By Daniel Hooper Of One Percent Property
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KEDRON, GORDON PARK, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS
9th September 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 9th of September and this week we had 1,233 sales across Queensland, which is actually a pretty good figure. That's a little more than we've been seeing. The auction clearance rate was 36% which is very low, but it's on par with what we've seen in the recent weeks and months. And across the inner north we had 26 sales. There wasn't a lot of what I would call notable sales over the last week.
Something I have noticed recently, a trend in our area is lots and lots of apartments are selling. Last year, houses were selling very quickly and apartments were taking longer. This year, what I've noticed is that every apartment I've listed in the last three months have sold in the first weekend. Now I have a feeling it's because people are getting priced out of the housing market. And if you're wanting to live in Stafford, you want to live in Kedron or surrounds and say you have five or $600,000, you're not buying a house anymore. So that the market for apartments has potentially increased, which, obviously, means they're gonna be more desirable. Which means it could be a fantastic time to sell if you are thinking about selling an apartment in the area.
One property which I will mention it's not quite sold yet, but we put it under contract today. So 66 Sixth Avenue. That is a two-bed, one-bath on 607 on the Kedron Avenues. Under contract today after three weeks on the market. We achieved the highest price ever achieved in Kedron for a two-bed, one-bath on this sort of block size. So, you know again, it's one of those things where although the market is not what it used to be, not what it was last year, we're still getting really good results. And it's all just about how you market a property and how you sort of put it out there, how you handle the buyers and everything else that goes into it.
In the media this week, as expected there has been another rate rise of 50 basis points or half a percent which takes us to 2.35%. Look, that was widely expected but I know some people were hoping for less. Obviously, less would have been better as far as home values. I think potentially, in October it may be less. It might be maybe a quarter of a percent instead of half percent. But, obviously, we will see what happens with the RBA. House prices are down 2.5% across Brisbane over the last quarter, over the last three months. We're still up 17% year-on-year, but, obviously, that is starting to slow down quite a bit. I look from what I've seen in the market, I have a feeling that the worst of it was June, July. I feel like consumer confidence is coming back a little bit and I think I'm hoping that things are gonna start to level out towards the end of the year and then we'll end to that next phase of the market of the property cycle, which is sort of just being very stagnant for probably quite a long time. That's what I'm hoping. Obviously, it does depend on what's going on in the world, depends on what's going on in the economy. Lots and lots of things can change so we'll see how that plays out.
At One Percent Property this week—it's been another great week.
So as I mentioned, we had 66 Sixth Avenue, we put under contract today. A few weeks on the market, plenty of offers…ended up getting a matching up with the perfect buyer profile for that particular property. And as I said, we had a price come over the line. That was was the highest price for this sort of property in Kedron.
On the market at the moment we have 3 Achilles Street, which is in Kedron. That's the property the big, sort of ski chalet-looking home at the top of the hill on Achilles Street. Panoramic views, four beds, three levels, pool. It's a beautiful property has got a lot to offer. That one is open tomorrow at 1:00PM.
1 Mylne Street in Chermside. That one is it's still on the market again, it's a big block, it's been renovated. It's a three-bed home, one-bath plus a one-bed, one-bath granny flat so a lot to offer. It's right on the border of Wavell Heights.
Also, 125 Kirby Road which is in Aspley. That one is still on the market as well.
36 Belnoel is currently still on the market but I believe we may be getting an offer through today. So I'm hoping we're gonna close that one off today. Having said that, if not we will still be open there tomorrow at 10 AM.
Coming soon, lots and lots of exciting properties lined up:
So just listed a new one yesterday in Railton Street in Aspley. It's a big town house so it's three beds, three baths, two-car, multiple living spaces. It's just a stone's throw from the park and walking tracks. It's a really, really cracker property. If you're looking for a larger property but you don't have the capacity to purchase a freestanding home, this one might be perfect for you so get in touch.
15 Ford Street in Clayfield. I put out a bit of a sneak peek about that one earlier this week. It is a character home on Ford Street—walking distance to Clayfield College, St Rita’s and St Margaret's. It's got potential to raise and build out. It's currently a four-bed, two-bath with a pool, 500 square meter block of land. Really, really cool opportunity. I'm excited to sell that one.
24 Beeby Street coming up in Wavell Heights is a brick-build, partially renovated, ready to move in but certainly lots of potential to add value. 600 plus block of land. It's got a pool as well. That's a fantastic one, that's gonna be coming up.
7 Arkin Street in The Gap—that is an entry-level property into The Gap. It's a four-bed, two-bath. It's a brick-build. Again, lots and lots of opportunity to add value but also ready to move in.
And I have another one on Broughton Street that is currently off market but large block, 750 plus square meters massive house, seven bedrooms. It's a battle axe block so it's separated back from the street. That one will be coming to the market probably about two or three weeks but at the moment it's off market.
If you have any questions about any of the properties that I mentioned today, if you have any questions about the market or anything else that I can be of assistance with, please give me a call. Otherwise I hope you had a fantastic week and I hope the weekend is even better.
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