The 10 most discounted properties in Australia at June 1
Sydney and Melbourne are noticeably absent from the most recent nationwide list of the country's most discounted suburbs and have had minimal presence in recent weeks.
We think to a certain extent that this reflects SQM Research's initial forecast for 2011, that the state of Queensland is set to suffer a little more than the others, and is already showing declines on a larger scale comparatively. With three properties in the top end of our list with discounts in the percentage range of 37% to 43%, Queensland is taking the lead so to speak where the slashing of prices is concerned.
Of course this is suburb-specific, and not all areas are suffering similarly, but the regions that are being hit this year are being hit hard.
1
1350 Wynnum Road, Tingalpa, 4173
On the market since: November 6, 2010
Initial asking price: $700,000
Current asking price: $400,000
Reduction: 43%
Days on market: 196
2
1/21 Ocean Drive, Coogee, 6166
On the market since: May 23, 2010
Initial asking price: $2,700,000
Current asking price: $1,600,000
Reduction: 41%
Days on market: 364
3
12 Mcclure Road, Upper Caboolture, 4510
On the market since: December 26, 2009
Initial asking price: $1,600,000
Current asking price: $999,500
Reduction: 38%
Days on market: 511
4
16/153 Kensington Street, East Perth, 6004
On the market since: August 21, 2010
Initial asking price: $845,000
Current asking price: $529,000
Reduction: 37%
Days on market: 273
5
232-234 High Central Road, Macleay Island, 4184
On the market since: January 11, 2009
Initial asking price: $279,000
Current asking price: $175,000
Reduction: 37%
Days on market: 861
6
25 Vicary Street, Triabunna, 7190
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 294
7
128/151 Adelaide Terrace, East Perth, 6004
On the market since: May 18, 2009
Initial asking price: $1,250,000
Current asking price: $799,000
Reduction: 36%
Days on market: 735
8
290 Viveash Road, Swan View, 6056
On the market since: June 5, 2008
Initial asking price: $2,290,000
Current asking price: $1,500,000
Reduction: 34%
Days on market: 1082
9
3 Boolari Road, Gosford West, 2250
On the market since: July 8, 2009
Initial asking price: $990,000
Current asking price: $650,000
Reduction: 34%
Days on market: 682
10
On the market since: November 15, 2009
Initial asking price: $375,000
Current asking price: $250,000
Reduction: 33%
Days on market: 552
Louis Christopher is the managing director of SQM Research. More information on discounted properties can be found in the free SQM weekly newsletter or on the SQM Research website.
