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
20th of October 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 Market Update for Kedron, Gordon Park and the surrounding suburbs. So, it is Friday, the 21st of October, 2022. And this week we had 1,225 sales across Queensland. Auction clearance rate of 36%. In the inner North, we had 27 sales, which is about on par with what we've been seeing in recent recent months.
Some notable sales:
1/22 to Seabrook Street in Kedron. It's a three bedroom townhouse. It actually is very close to Gympie Road as well. Sold for 700,000, that's a fantastic price.
120 Park Road in Kalinga. Five beds on 486 square meters. Beautiful Hampton style home sold for 2.677.
So although the market is definitely shifting, things are coming down, things are getting harder to sell. Certainly, the very nicely presented homes are still getting very, very good results. Certainly, compared to where we were 18 months ago, they're much higher.
As I mentioned in the media, the down trend at the moment is continuing, so 0.6% across Brisbane—a decrease over the last week and 1.8% over the last month. We're getting around 1.8% per month decrease at the moment. I'm hoping it's going to bottom out soon. I'm not sure. But, certainly, I think if the interest rates continue to sort of level, you know, property will follow if you look at Sydney and Melbourne, which sort of usually run ahead of Brisbane. They look like they're starting to really reach the bottom of their price decrease so, hopefully, that will come for us in the coming months.
One big thing that is coming next week that, obviously, is going to have a large effect on where property prices go is the quarterly CPI Inflation figure, which is I think it's going to be announced next week. That's always going to affect where rates go and that's going to have a big effect on our local property prices—because if rates continue to go up again, like if CPI is higher than expected, rates will go up higher than then you know, maybe they have been and, obviously, it's gonna have an effect. Whereas the CPI is better than expected, that's going to have the opposite positive effect. So we'll be watching that quite closely.
One concept that I wanted to discuss, that I read about recently in an article, is the idea of time on the market as opposed to timing the market. What I mean by that is it's very difficult to time the market to get the actual peak and trough of any market cycle. But if you look at property over the last 30 years, even over the last 10 years, if you're in the market long enough—it doesn't really matter where you buy, you're going to make money. That being said, you know, we've had, obviously, a very big growth period. We've now had a contraction period. I believe it's a good time to be getting into the market. Especially if you're gonna be holding it for long term. If it goes down a little more, it doesn't really matter if you're gonna hold it for the next 10 to 15 years because we're going to go through another cycle, you're going to get another increase and, obviously, the price is gonna go up in the value is going to be fantastic.
At One Percent Property this week—it's been another massive week. So, we're working towards something big. We're opening an office in Kedron in January which, obviously, we're very excited about. We will be the only real estate agent in Kedron and I'm very excited about it. But I'm also, obviously, lots of new experiences, lots of new learning going on, moving from just being a sales agent, obviously, opening an office…having said that, still plenty of properties coming through. So, 36 Belnoel Street, that property is unconditional. We launched that property back in June. Now this is a really clear illustration of why you need an agent that's going to work persistently for you to get your property sold. We launched that home back in June. We took buyer feedback, we worked on it, the owners made some modifications to the home. There was lots and lots of work that went into it. We eventually had an offer come through in June. No, sorry, would have been in August, we had an offer come through. The offer was $150,000 under the asking. It took me two weeks but we eventually got them up to asking and we signed a contract at asking price of 1.35. There were some issues with the bank, there were a few other issues which we had to surmount but we eventually got there. That property is now unconditional at the asking price took about four months together. But we delivered the result that the owners were wanting and needing for their sale.
On the market at the moment:
1 Deramore Street in Wavell Heights, beautifully renovated home. It's a lovely offering. It's literally fresh renovation.They bought it six months ago and basically flipped it. Very, very good condition—that is open tomorrow.
We've got 24 Beeby Street. It's a brick home, three-bed, two-bath. It's got a lower level, it's not legal height but plenty of space. Big pool, big yard. Also, in Wavell Heights.
61A Broughton Road in Kedron. It's a massive, almost 800 square meter battle axe block. It's got a huge 450 plus square meter home on it. Brick-build, seven bedrooms, six car spaces, massive pool. It's a very unique property but a very good opportunity to get into a cracking area that's walking distance to Padua.
17 Arkin Street in The Gap. Lots and lots of brick properties at the moment. It's another single level brick property. It's four-bed, two-bath on a big 600 square meter block in a great street. Very, very entry-level pricing into The Gap. Certainly, you know, house could do with a bit of a facelift, but it's priced accordingly. It's a beautiful opportunity to get into a really, really sought-after suburb.
7/ 18 Kedron Street in Wooloowin. It is a large, one-bedroom, one-bath apartment. It's got a big private car park with plenty, plenty of storage. It's got a large outdoor area as well. So very, very…and it's been fully renovated, sorry, it's got a new kitchen. It's got new floors, new paint. It's a really, really good opportunity, entry-level into Wooloowin
and 5/9 Railway Parade in Nundah—three stories, two-bed, two-bath townhouse. It's in very, very convenient location. Walking distance to the train station, it's a modern finish, stone bench tops and again, a very, very good opportunity to get into Nundah at a great price. We're looking at 500 for that one.
Coming soon we have 67 North Street—large block, large, single level postwar home on four-bed, two-bath on a very good street in Kedron that will be launching next week.
72 in Imbros Street in Nundah—it's a 405 block of land ready to come in. Obviously, build your dream home. We’ll be looking to partner up with and get some quotes from some builders so that we can deliver a rounded product if you're having issues finding builders. But if you are interested in looking for a block of land, please give me a call and also 2301/179 Alfred Street in Fortitude Valley. That's in the FV Peppers building. Beautiful building, beautiful apartment. It's the largest floor plan apartment in the building. It's got a big car park with private locked storage. It's only one of three or four in the building that have that. The building facilities include everything from spas to movie rooms. It's got a massive hotel style-gym, big pool—everything that you could want in an apartment, this building has got. It is really actually quite incredible the facilities in the building.
So if you think you might be interested in any of these properties that I've mentioned or if you have any questions or if you'd like to get an update on the value of your home, please feel free to give me a call: 0424-585-391. Otherwise, you have a fantastic week so far and I hope you have a great weekend.
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