Hello, I’m David Watt from Hicks Real Estate, and welcome to our market update for Feburary 2017.
We have exciting news this month with the announcement that Hicks Real Estate has been awarded Agency of the Year for 2016 in Everton Park and McDowall, by Rate My Agent.
On behalf of Madeleine and all of the team here at Hicks Real Estate, thank you for all your support and we look forward to being of service to our valued clients for many great years to come.
If you remember from January’s video, a large number of buyers who were holding off over the busy holiday period have entered the market, creating a lot of activity and excitement in our area. This level of buyer activity has continued strongly into February, and homes that are presented well have sold quickly and easily for excellent prices.
In quite a number of situations we have had multiple offers for the sellers to choose from, and we have experienced an increase in the number of properties that have sold off-market or prior to official launch on Realestate.com, simply from our database of active buyers, saving our sellers huge amounts of money in marketing costs.
One major cause of this buyer competition is a continuation of the very low number of properties on the market, relative to the same period in past years, and in the case of Stafford Heights, 20% less properties on the market than were available in January of this year.
Hungry buyers are competing in a classic low supply, high demand scenario, and yielding strong sale prices for our sellers.
The market in Everton Park stayed steady, with 83 properties available in January and 80 available in February. We did observe an increase in the number of properties sold, 15 in February which is a significant increase from the 10 sold in Everton Park in January. The highest sale price was 53 Russell Street, achieving $700,000, and the lowest sale price being $296,000.
In McDowall, we saw a similar number of properties available on the market, with 17 available this month up from 16 in January. Of these 17 properties, 8 sold, with 25 Redford Crescent achieving the highest sale price in February of $805,000, and an empty 680m2 block of land on Keona Road selling for $460,000 at the lower end, which is a useful indicator for current land value in the area.
Stafford was also steady, with 42 properties available on the market, down from 43. Stafford continues to grow in popularity as shown by the buyer demand with 11 properties sold in February, up from only 7 in January.
The highest sale price was a relatively simple period home at 9 Theodore Street selling for $786,000. Buyers are attracted to these well made homes full of character because they are easy to renovate and add value, or add a balcony or outside entertaining area to really maximise the investment, and they are really noticing that Stafford has great schools nearby, good shops, cafes and fantastic infrastructure and accessibility.
Interesting to note, is that 22 Winnam St sold for $722,000, setting a new street record $22,000 higher than the last record sale price in that street.
There is also plenty of new development taking advantage of this accessibility to the city or the airport link tunnels, and the lowest unit sale price in February was $280,000.
In Stafford Heights there were 26 properties on the market in February, up from 21 in January, with 12 of these selling in February, steady with the 12 sold in January. Stafford Heights has always had very strong sale prices, helped along by the fantastic city views that can be had from the right vantage point, such as we observed with the highest sale price in the suburb for February at $835,000, which was a beautiful house at 64 Redwood St, with a brilliant deck taking full advantage of the city views.
The lowest sale price was $385,000 for a cleared block of land on McQueen Street.
Thank you for your time, it has been a real pleasure to be able to present this market update to you. As you have seen, with such strong buyer activity at the moment and a low supply of properties on the market, now is a fantastic time to sell if you want to achieve the best price for your home or investment property.
If you have had any thoughts of selling, or are just curious as to what your home may be worth in the current market, please give me a call today. My name is David Watt, for Hicks Real Estate.
MCDOWALL RECENT SALES
| Highest Sale Price: – $805,000 | Lowest Sale Price: – $460,000 |
| Properties Sold: – 8 | Properties on the Market: – 16 |
| Address | Bed | Bath | Car | Land Size | Sale Price |
| 25Redford Cr | 5 | 3 | 2 | 802 | $805,000 |
| 20 Lazenby St | 3 | 2 | 2 | 612 | $645,000 |
| 1 Sarandon Cl | 3 | 2 | 3 | 717 | $630,000 |
| 12 Van Dyke Cr | 4 | 2 | 2 | 683 | $585,000 |
| 50 Keona Rd | – | – | – | 680 | $460,000 |
STAFFORD RECENT SALES
| Highest Sale Price: – $786,000 | Lowest Sale Price: – $280,000 |
| Properties Sold: – 11 | Properties on the Market: – 42 |
| Address | Bed | Bath | Car | Land Size | Sale Price |
| 9 Theodore St | 2 | 1 | 2 | 809 | $786,000 |
| 22 Winnam St | 4 | 1 | 0 | 630 | $722,000 |
| 7 Blyth St | 4 | 2 | 1 | 607 | $694,000 |
| 96 Armfield St | 3 | 1 | 1 | 645 | $595,000 |
| 2/31 Lutana St | 3 | 2 | 1 | 148 | $582,000 |
STAFFORD HEIGHTS RECENT SALES
| Highest Sale Price: – $835,000 | Lowest Sale Price: – $385,000 |
| Properties Sold:- 12 | Properties on the Market:- 26 |
| Address | Bed | Bath | Car | Land Size | Sale Price |
| 64 Redwood St | 3 | 1 | 1 | 774 | $835,000 |
| 14 Belfort St | 3 | 3 | 3 | 1017 | $810,000 |
| 44 Pangeza St | 4 | 2 | 2 | 1303 | $760,000 |
| 24 Belfort St | 4 | 2 | 2 | 764 | $687,000 |
| 37 Parton St | 4 | 3 | 2 | 616 | $655,588 |
EVERTON PARK RECENT SALES
| Highest Sale Price: – $700,000 | Lowest Sale Price:- $296,000 |
| Properties Sold:- 15 | Properties on the Market:- 80 |
| Address | Bed | Bath | Car | Land Size | Sale Price |
| 53 Russell St | 4 | 2 | 2 | 818 | $700,000 |
| 719 South Pine Rd | 3 | 1 | 4 | 787 | $680,000 |
| 12 Bunny St | 4 | 2 | 2 | 610 | $668,000 |
| 43 Streeton Pd | 3 | 2 | 2 | 607 | $640,000 |
| 9 McAdam St | 3 | 2 | 3 | 751 | $598,000 |
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Hicks Real Estate Team
Hicks Real Estate is a Brisbane based, full-service real estate agency supporting buyers and sell as well as renters and property investors. With almost 20 years experience in the local market, we are the real estate experts you can rely upon.
