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
28th of April 2023
Thinking of selling your home? Sell with Kedron's ONLY real estate office and you decide our commission AFTER the sale!
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 28th of April 2023.
This week we had 1,121 sales in Queensland with an auction clearance rate of 44%. So, bit better than last week's—pretty much on par with what we've been seeing over the last few weeks though. In the inner north, we had 29 sales which is a decent amount. Shows still a good amount of properties changing hands. A few notable sales:
51 Brae Street in Wavell Heights. Three beds, 843 square meters. That property is sold for 1.44 million.
14 Bloxsom Street in Kedron. That one is a five-bed, on 400 square meters. New build, sold for $1.715 and
24 View Street in Kedron. We had settled last week, which is a property that I sold: four-bed, high set home, single-level of living, not built in underneath on 620 square meters. That one's sold for $1.22 million.
So, there's still some really good prices happening. Locally and certainly over the last few weeks, we've seen more buyers in the market, more positivity around property, which is, obviously, a good sign for homeowners. The rate pause last month has, obviously, been quite positive for property prices. And when I say positive, what I mean is we're not really going up, but we've stopped going down so drastically. Local prices up 0.2% over the week, up, 0.25% over the month. So very flat. I would call that, I wouldn't call that really much of an increase at all, but definitely an improvement on the 2 - 3% loss we've been seeing per month over the last 12 months. I do think, touch wood…I do think that we are at the bottom. Various things including increased consumer confidence, increased buyer numbers, more properties getting decent prices. And in that, coupled with the fact that the charts are starting to show, a flattening or even slightly increase of price does indicate to me that we're at the bottom of the market. Certainly, it's going to be affected by what comes next with rates and the global economy. But if everything goes well, I'm hopeful that we're at the bottom of the market. One thing, that is an interesting trend at the moment. I've been talking about it every week is everywhere low on stock. Every single agent in the area has limited numbers of properties on the market. I read an article today that indicated that new listings coming to the market at the moment are 30% below this time last year. So, what that means is we've had a bit of an influx in buyers. We've had an increase in consumer confidence. People are ready to purchase homes. There is no stock at all. So, if you're thinking about selling, it's probably quite an opportune time to jump on it and hopefully, take advantage of the undersupply before other vendors have the same idea. If you did want to discuss that, you wanted to have a chat about what's going on, please give me a call: 0424 585 391.
At One Percent, this week, we've had a few exciting properties coming up. We've had one property go unconditional and, obviously, one settle that I've already mentioned.
So, 2/51 Seventh Avenue is unconditional—two-bed, one-bath apartment on the Avenues. This is the third two-bed, one-bath apartment I've sold on the Avenues in the last…call it a month and a half and getting very, very good prices. Every single one is sold at the first open home and every single one has achieved fantastic prices. We got 428, 430 and 431. So, just to put that in perspective, the property that we sold for 428, I sold it to the to the current vendor, 18 months ago for just over 300. So, that is some significant price growth in a small apartment in that area. So very, very hot property at the moment. And if you have a small unit on the Avenues and you have a small unit in Kedron that you are thinking about selling, it is a good time to do so, and I have a lot of people left over from these other properties that are still looking. So please give me a call.
Coming up, we have a number of great properties launching in the local area.
So, 30 Fifth Avenue in Kedron—it is a it's a three-bedroom home. It's character, it was built in 1920s, but it's had improvements done since then. The space downstairs is right smack on 2.4m. It is impeccable shape. So, it has just been maintained very, very, very, very well. The slab downstairs is perfect. The walls are perfect. Everything is very, very good shape. It is dated, it's not modern but it's it's very, very well maintained. It's a large 708 square meter corner block and it is low-medium res as well. So, there's potential to move the house forward, split off the back or do some other form of development with the property. We'll be launching on Monday. We'll be looking at offers over 1.25.
40 Felsman Street in Chermside West—four-bed, two-bath. It's a low-set, brick home. It's at the end of a cul de sac. It's on a good block and it's been fully renovated internally. That will also be launching probably in about two weeks time and then
24 Carnot Street—that's spelled C A R N O T in Wavell Heights. This is a big, executive home. It's on a 405 block, four beds, 2.5 bath. It's got a nice pool at the back and a bit of grass as well. It's a unique design in that the living space is upstairs and the reason the owners to take advantage of the city views and the bedrooms and rumpus are actually downstairs.
If you have any questions about any of these properties or you have any questions about the market or you would like to get an update on the value of your home, please give me a call: 0424 585 391.
Comments