The 10 most discounted properties in Australia at June 16
The list remains quite steady from last week, with a newer batch of regular properties repeatedly making the top 10 each week. It is now properties from Queensland and Western Australia that are continuing to dominate our list of slashed property prices. This is in line with our recent forecast that these states (Queensland and Western Australia) will suffer steeper falls than the others, comparatively speaking.
What is particularly noteworthy about this week's list is that we have finally been graced with the addition of a discounted property in Victoria! It has been a while since we have seen discounts from this state in our top 10, and number nine on the list, 2506/83 Queensbridge Street Southbank 3006, has been discounted by a whopping 30%. This property is apparently going to auction at a price range given of at least $500,000 less that the vendor's orginal asking price. Having said this, these types of auction advertisements can often be ambigious, as it is never known whether bidding is expected to start from the given price range or whether the vendor is hoping to acheive a sale within the given price range.
1
1350 Wynnum Road, Tingalpa, Queensland, 4173
On the market since: November 6, 2010
Initial asking price: $700,000
Current asking price: $380,000
Reduction: 46%
Days on market: 210
2
1/21 Ocean Drive, Coogee, New South Wales, 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: 378
3
232-234 High Central Road, Macleay Island, Queensland, 4184
On the market since: January 11, 2009
Initial asking price: $279,000
Current asking price: $175,000
Reduction: 37%
Days on market: 875
4
25 Vicary Street, Triabunna, Tasmania, 7190
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 308
5
290 Viveash Road, Swan View, Western Australia, 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: 1096
6
3 Boolari Road, Gosford West, New South Wales, 2250
On the market since: July 8, 2009
Initial asking price: $990,000
Current asking price: $650,000
Reduction: 34%
Days on market: 696
7
1/16 Dewar, Ledge Point, Western Australia, 6043
On the market since: November 15, 2009
Initial asking price: $375,000
Current asking price: $250,000
Reduction: 33%
Days on market: 567
8
65 Pier Haven, Lamb Island, Queensland, 4184
On the market since: January 9, 2010
Initial asking price: $425,000
Current asking price: $290,000
Reduction: 32%
Days on market: 511
9
2506/ 83 Queensbridge Street, Southbank, Victoria, 3006
On the market since: October 31, 2010
Initial asking price: $2.15 million
Current asking price: $1.5 million
Reduction: 30%
Days on market: 217
10
56 Ellen Street, Kingston, Queensland, 4114
On the market since: October 31, 2010
Initial asking price: $2.15 million
Current asking price: $1.5 million
Reduction: 30%
Days on market: 217
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.
