Weekly Property Wrap Up by Daniel Hooper of One Percent Property
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KEDRON, GORDON PARK, STAFFORD HEIGHTS, EVERTON PARK & SURROUNDING SUBURBS
28th of January 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 28th of January 2023 with your Weekly Property Market Update for Kedron, Gordon Park and the surrounding suburbs.
So, in Queensland this week we had 1,000 and 26 confirmed sales. Auction clearance rate at 33%. The auction clearance rate is pretty much on par with what we've been seeing. The numbers of sales are down significantly. It was 1,200-odd towards the end of last year. Now my feeling on that—because on the ground I'm seeing more buyers, I'm seeing more interest, I'm selling more properties are selling faster. So, I believe the reason that number is lower is because it would be it's settled property. So, it would be reflective of what happened in December which, obviously, things are pretty subdued in December due to Christmas. In the inner north, 14 sales. Again, much lower than what we've been seeing in recent months in our area. It's normally around 25.
Some notable sales; so still some very positive things happening:
35 Thirteenth Avenue in Kedron—that is a five-bedroom, new-build home on 405 square meters. Good spot on the Avenues, sold for $2.2 million. That's a suburb record for a 405 block. So, that high end, sort of, really nicely finished home market in our local area is, actually, still doing very well.
5 at 18 Wilmington's Street, Wooloowin—another good sale. Three-bed townhouse that sold for $1.1 million. So, certainly, still, people out there, willing to pay some good money, although prices are dropping, the medium price is dropping. You know, it's not the end of the world, it's not super negative.
In the media this week. So, CPI or the inflation figures came in for December. They came in quite a lot higher. They blew out to 7.8%, which was more than anyone was expecting. So, what does that mean? It probably means, obviously, it's higher than expected which means likely almost certainly, we're going to get more rate rises than we expected. Rate rises will probably continue a bit longer. The peak of the insurance rate level will be delayed. It will happen later in the year, which does probably mean we're going to get another at least 3 to 6 months of ongoing decline in the local market. So, in the short term not overly positive. I'm still very, very positive in the long term, 5-to-10-year timeframe for Kedron and the surrounds. I think it's going to be a fantastic decade. Certainly, probably a rough 6 to 12 months. Having said that, I'm noticing on the ground that buyer numbers, as I said by numbers and interests seem to be higher now and people seem to be purchasing more than they were last year. So, whether this is just that January Buzz or it's sort of, you know, things starting very early on the ground, will, obviously, be seen in the next 3-6 months.
At One Percent Property this week, again we're going pretty crazy at the moment. We've opened up the office in Kedron, there's a lot going on.
32 Childers Street which is in Kedron. It's a four-bedroom home. It's on 405 square meters. It was on the market last year for about five months with another agent—wasn't able to sell. We put it on the market last Monday—offer on Saturday, under contract the following Monday. So, seven days on the market under contract.
19 Parkham Avenue—that one is in Wavell Heights. It's 8-12 splitter block. Again, that one didn't even make it to realestate.com, it was sold within 24 hours.
On the market at the moment. So, some new properties we have:
3311/35 Burdett Street—that's in Albion. Flood-free area of Albion, good little spot near Ascot and Bowen Hills. It's a 1-1-1 so one-bed, one-bath, one-car plus a study which is, actually, bedroom size just doesn't have any windows and a storage cage. So, it's a really neat and tidy little unit. Very good entry-level property into Albion.
134 Leckie Road in Kedron—559 square meters low-medium res. Very unique property and that has got a Postwar home so it can be removed which means you can basically do whatever you want with it. It woul be suitable for an apartment building. Be suitable for town houses. It would be suitable for a duplex. Really, whatever you want to do with that development
95 Brook Street, Windsor—that one we had under contract but the contract has unfortunately fallen through. It is back on the market, we're holding an open at 9am this morning. That property at 8/25 in Windsor is incredible value and it will sell quickly. So, if you're interested let me know.
61A Broughton Road in Kedron—very unique Kedron property. Massive home, massive block battle axe—very ,very well-kept. That one is by private appointment only.
And then we've got 67 North Street and again fantastic value. It's a big block, it's on a great street. The house needs some work but it's very, very well priced for a large home on a large block in Kedron.
Coming soon plenty of local properties:
31 Armentieres Street in Kedron. Big executive home, four-bed, three-bath. Big block, one of Kedron's best streets; will be launching the next couple of weeks.
23 Glenhaven Street in Kedron three-bed, one bath. Lovely big block, big pool in the backyard. Again, launching the next couple of weeks. 24 View Street in Kedron—another big executive home. It's a high-set, four-beds, two-bath. Big corner block in a great area of Kedron; will be launching again in a couple of weeks.
1 Florentine Street, Chermside West super unique property. Four bedrooms, plenty of space. It's elevated, it's double brick construction, massive, vaulted ceilings, huge, vaulted ceilings. Very, very good aspect. It's a super unique property which is coming to the market next week and then.
5 at 22 Onslow Street in Ascot—neat and tidy one bedroom, good part of our Ascot. Very, very nice, modern, clean apartment that was going to be launching in February.
So, if you have any questions about the properties that I mentioned today, if you have any questions about the market or if you'd like to get an update on what's going on with your house and what the value is, please feel free to give me a call: 0424 585 391. Otherwise, I have you had a fantastic week and I hope your weekend is even better.
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