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
25th of February 2023
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Daniel - 0424 585 391
daniel@onepercentproperty.com.au
Hi, this is Daniel Hooper from One Percent Property coming to you on Saturday, the 25th of February 2023 with our Weekly Market Update for Kedron, Gordon Park and the surrounding suburbs.
Over the last week, we had 1096 sales in Queensland. Fairly on par with what we've seen so far this year. We've had actually quite a lot of sales locally, which is good. 41% auction clearance rate. That's quite good. Last week was quite good as well. Is this a sign that we're starting to see more properties move? Which, hopefully, means we're moving towards the bottom of the market? I really hope so. But again, it's too early to sort of make that assumption. 34 sales in the inner north, which is a good number. It's more than we've seen any week this year so far. So, definitely quite positive there.
The notable sales:
55 Bertram Street in Stafford—that's three beds on 607 square meters. That's all for $840,500 which is quite a good price.
14 Garfield Street in Nundah—that's a 930 square meter splitter block sold for 1,110,000. Again, it's a pretty good price.
So, we're still seeing some good prices, were still seeing lots of people put offers on.
In the media this week, the price decline was flat for the first time over the last week. For the first time since April 2022, that is very positive. Still down 1.3 for the month, but certainly… obviously, if we start to get a flatter trend across each week, we're going to start to see the flatter trend come out across the month and it's going to be very positive. It will mean we're hitting the bottom of the market. So, I'm really hoping that moves from just the once off into a trend that we can start to follow. Consumer confidence also is up this week, which is very positive—so up 2.3%. Again, it's still very low at the moment, but, hopefully, we start to see a bit of a trend of that increasing as well, which is going to be people feeling more positive. People are buying more properties; people are putting more office in, and everything generally is just looking a bit better.
Locally, I do feel that I can see the struggle around the finance side of things on the ground. We are getting contracts falling through based on finance more than we ever have. So, you know, there's obviously more of a pinch with the bank's rates are going up. People are struggling more with their borrowing power and it's just becoming more of a problem when purchasing property, which means, obviously, when you are looking to purchase, it's just more important that you really get all your ducks in a row, in regard to finance, just make sure everything's ready to go because there are more and more issues popping up.
At One Percent Property this week—another massive week. We've got lots going on.
So, 5 Victoria Street in Brighton—that one sold in five days under offer, lots of interest up that way near the bay there.
1 Florentine Street in Chermside West is also under offer. That one took a few weeks but I got a fantastic price. Looking forward to getting that one wrapped up.
19 Parkham Avenue in Wavell Heights—unfortunately, that one fell through just at the last minute on finance. So, that is the second contract. Unfortunately, property that has come come undone but we have lots and lots of interest on it. We've got another two verbal offers that we're looking at and I think I'll have it back under contract within the next couple of days. Very, very important when you deal with the real estate agent to make sure that they continue to talk to buyers even until the proper unconditional because there is, obviously, a chance that it will fall through if you want to make sure you get it back under offer quickly.
New to the market this week:
31 Armentieres Street—going to be heading there in about half an hour, to do an open that is a beautiful big 350 odd square meter family home on Armienteres Street, which is one of Kedron's best streets, backs onto Mount Alvernia there. It's a dead-end street, very safe and secure, walking distance to the Padua precinct. Obviously, big family home, 600 block of land. It's four bedrooms, it's got three living spaces, it's got two kitchens, three bathrooms. It is a large home, and we will be, obviously, looking to help a family move into their new forever home over the next coming weeks.
25 Glenhaven Street in case again, another stunning home. So, this one is a little smaller but it's a three-bed, two-bath with a big lower area that's not legal height. It's on a 599 square meter block of land and it has been renovated top-to-toe to the absolute highest standard. It's a stunning home and that one again will be open today.
23 Glenhaven Street—directly next door. That property is a three-bed, one-bath. It's in good condition, definitely has a few cosmetic things that could be uplifted but it's very, very livable, nice, big open plan space, three beds, nice, clean kitchen, partially renovated. It's got a big pool in the backyard, it's nice and elevated. Great property—looking at 950 for that one will be open today as well.
4 Park Avenuet—very, very, neat and tidy property. It’s in Alderley, so it was built in 2011. It's a modern four-bed, two-bath home, two living space, two car like it's a very, very, nice big family home. It's on a smaller block, so very, very easy to maintain. It's near the train station as well. Great rental income if you're an investor. Lots and lots of opportunity with that one as well.
Launching next week, so we have:
School Street in Kedron—sorry, I'm so used to saying Kedron there. School Street in Kelvin Grove—9/27 School Street. It is a very tidy, two-bed, two-bath one-car property in Kelvin Grove. Looking around 500.
5/35 Seventh Avenue—really, really good, spacious, large, two-bed, one-bath, one-car property in a sort of, blond brick path on the Avenues there. That one will be looking at 425,000+.
So, if you have any questions about any of the properties I've spoken about today or if you'd like to get an update on what's going on in the market, please give me a call: 0424-585-391.
Otherwise, have had a fantastic week so far and I hope that weekend it's even better.
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