Kedron and Surrounding Suburbs Weekly Market Update⁠ 16.09.22

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 ⁠⁠⁠

⁠

16th September 2022⁠

⁠

Thinking of selling your home? Sell with Kedron's Agent Of The Year 2021 and you decide our commission AFTER the sale!⁠

⁠

Daniel - 0424 585 391⁠

daniel@onepercentproperty.com.au⁠

www.onepercentproperty.com.au

Hi, this is Daniel Hooper from One Percent Property coming to you with your Weekly Property Market Update on Friday, the 16th of September, 2022.

So over the last seven days in Queensland, we had 1,259 sales. That is pretty much in line with what we've been seeing in the last few weeks. Auction clearance rate of 35%. Again on par with what we have been seeing. There were around 21 sales in the inner north this week, which is...it's a lower number but again, no lower than we've seen in previous weeks. So everything sort of seems to be quite steady in its progression at the moment.

Some notable sales:

• 70 Mawson Street and Kedron, that's a four-bed home on 617 square meters. It's all for 1.6 million.

• Also, 151 Bilson Road in Wavell Heights, three-beds, 756 square meters. That one sold for 1.53…It was on the main road as well. So what this shows is we are still getting good prices.

There are still capacity to get good prices out in the market. Generally, properties that are presented really, really well nicely renovated or brand-new builds, well staged, that sort of thing—they're getting the best prices because people aren't really keen on doing renovations at the moment with the construction landscape but certainly it's not all doom and gloom.

In the media this week, rates are obviously continuing to rise, prices are continuing to drop. The Brisbane property prices has dropped 1.9% just in the last 28 days, which is significant. Obviously, if that continued for a period of 12 months, we'll be looking at over 20%. I don't think it's going to continue. I'm hoping it's not going to continue for that long. I think from discussions I've had with people in finance and and a few, a few other experts, I'm hoping that the rate rise will, although it will continue in October, I'm hoping that it will will, will be smaller. So instead of a 0.5% rate rise, I'm hoping we may be a 0.25%. That would be very positive for the market because the market is not really about the fundamentals, it's not really about the figures. What the market is about is how people are feeling about the market. If buyers and sellers are feeling good about the market prices go up. If buyers and sellers are feeling bad about the market, prices go down. At the moment, consumer confidence is horrible. It's very, very low. Obviously, people don't know how high rates are gonna go. As soon, in my opinion. As soon as people see the rate rise slow down, it will bring a certain amount of buyer confidence back to the market. So October, if things go to plan, hopefully will be a lower rate rise, which will bring more buyers back, which will help add to a bit of a bit of gusto to the spring selling season. Obviously, could go the other way, it could be 0.5 again which I think will will be fairly negative, seeing that a lot of people are expecting a smaller rise next month.

At One Percent Property, a lot of exciting stuff happening in the local area.

• So a unique one for me—I sold two properties, both two-beds, one-bath; both on around 600 square meters. When I sold the first one, I broke the suburb record. That was 32 Figgis Street with the price of 1.12 for a two-bed, one-bath on under 1000 square meters in Kedron. And then about a week later, I broke my own suburb record with 66 Sixth Avenue which is under offer. Now that one's not unconditional so I can't reveal the price but I will let you know once it goes unconditional.

• Also, 16 Ford Street…15 Ford Street is under offer. I had a bit of a mind blank there. It is a beautiful pre-war Queenslander in Clayfield—four-beds, two-bath. That one when I didn't even make it realestate.com. I sold it via my database. It's under offer and I'll let you know the price once it goes unconditional.

On the market at the moment we have:

• 3 Achilles Street. A beautiful, sort of, ski chalet style home in Kedron. Four-bed, two-bath with a pool.

• We've got 1 Mylne Street in Chermside. It's a three-bed, one-bath house with a one-bed, one -bath granny flat. It's on the border of Wavell Heights. It's a good opportunity.

• And 36 Belnoel Street, Wavell Heights—a large 300-plus square meter family home on a +607 block.

Coming soon, next week we’ve got:

• 2/30 Railton Street in Aspley which we’ll be launching. It is a really, really big three-bed, three-bath townhouse with multiple living spaces. Walking just a very short walk to the park as well. So it's a lot of a lot of opportunity for that property.

• If you're looking for something bigger, you can't quite afford a house, a freehold house; this one is potentially a really, really good fit for you: 17 Arkin Street in The Gap. It is a four-bed, brick home will be launching in the next couple of weeks as well.

• And also 24 Beeby Street in Wavell Heights, renovated brick home that will be coming to the market in the next couple of weeks as well.

If you have any questions about any of the properties I mentioned or anything I've said about the market. If you have any other questions regarding property or you'd like to get an updated value on your home. Please give me a call. Otherwise, I hope you've had a fantastic week so far and I hope your weekend is even better.