Kedron and Surrounding Suburbs Weekly Market Update 14.04.23
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
14th of April 2023
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Hi, I'm Daniel Hooper from One Percent Property coming to you with your Weekly Market Update for Kedron, Gordon Park in the surrounding suburbs. It is Friday the 14th of April 2023.
And this week we had 957 sales across the state of Queensland. That is not a lot of sales. It's probably 20% lower than we've been seeing even in recent months. Auction clearance rate of 45% that is quite high. So not a lot of sales, but properties are selling. In the inner north, we had 22 sales which, again is, quite a subdued number. Only notable sale this week was 37 13th Avenue in Kedron. Brand new-build, five-bedroom home, 405 square meter block of land sold for $2.2 million. So, the high-end properties are still getting very, very good prices. 2-3 years ago, in Kedron was absolutely unheard of. It wasn't nothing.
What's happening in the market at the moment? Definitely still seeing the trend of improved buyer and consumer confidence, more people out actually purchasing, more people making offers, properties are selling, which is, obviously, very positive for homeowners. Very positive for people that are thinking about potentially selling. Value is also slightly up in March, slightly up over the last week. Very, very slightly like 0.1% but it is not a drop. Locally, we've been seeing 23% a month drop, month on month since April last year. So having it flat or slightly up is a big win. And again, all of these things—increased buyer numbers, more positivity and offers in the market, prices leveling and potentially turning up. These are all indicators that we're probably at the bottom of the market, that things are going to hopefully start to look a bit more positive. And the fact that we have very, very low stock probably means that most vendors have not picked up on that yet. I keep saying it, it's a good time to put your property on the market because people are feeling positive. People are putting offers; people are going to open homes but no properties to sell. That is a very, very good time to be a vendor. So, I think it's not going to last very long because once people realize that the market is a bit more positive, then people that have been holding off are obviously going to come to market. So potentially small window, a very opportunistic window if you are looking to sell them.
At One Percent Property, it's been another great week.
- So 25 Glenhaven Street, here in Kedron is unconditional $1.2 million.
- 4 Park Avenue in Alderley is also unconditional at $970,000.
- We've just launched two 2/51 Seventh Avenue in Kedron—another two-bed, one-bath apartment. Confident it will probably sell them in the first week.
- We've got 5 Meadfoot Road in Virginia on the market. 875 plus three beds, three bed plus study. It's got one bedroom, one-bathroom, nice big kitchen, large deck. It's got an under-house area that's not legal height but certainly lots of potential opportunity.
Coming soon:
- 40 Felsman Street in Chermside West—low set, four-bed, two-bath, renovated in inside, brick-build, large block. It's a good opportunity to get into a great area, obviously, near public transport and stuff like that as well.
- You've got 30 Fifth Avenue in Kedron. 30 Fifth Avenue is a fantastic opportunity. It's a two bedroom, and it's got a lot of extra space. A lot of rooms around the outside that sort of could be converted into other bedrooms. It is right on 2.4m underneath the house. It's a large 708 square meter block of land and it's a corner block and it's low-medium res. So potential to split, potential to maybe do townhouses at the rear. But certainly a lot of opportunities and
- 24 Carnot Street in Heights—405 square meter block of land. It's a nice home. It's only four or five years old. Four-bed, two-bed bath, multiple living spaces, nice kitchen. It's got a pool and it has got city views as well, so that one's going to be coming up in the next month or so as well.
So, any, if you have any questions about the properties that I've mentioned, if you have any questions about your home or what's going on in the market, please feel free to give me a call: 0424 585 391. Otherwise, I hope you've had a fantastic weekend so far and I hope, sorry, I hope you've had a fantastic week so far and I hope your weekend is even better.