Brisbane's top 10 most heavily discounted properties: SQM

Interest in some properties in the Queensland property market has been less than favourable, with some desperate vendors dropping asking prices by as much as half in a bid to attract buyers.

And that’s not the longest wait: one spent 742 days waiting for a buyer before finally going under contract in the past few days.

Another, at 34 Seraya Court, Closeburn (pictured below) is for sale at $795,000 - at least a 45% discount from the original asking price.

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The SQM Research list shows the top 10 most discounted properties from the statistical division of Brisbane. Most have spent many weeks there. And the lack of interest covers all price points – from that low of $205,000 to a high of $2.3 million in Brisbane city.

These lengthy stays on the market and savage discounting back up SQM Research’s disdain for the Queensland market over recent years. Managing director Louis Christopher declared certain regions "basket cases" early in 2011.

The researcher’s recent Brisbane Housing Boom and Bust Report outlines the case for Brisbane house prices "to remain relatively flat" through 2013 – which, compared to recent years, is considered good news.
"In other words, for the most part we believe that many localities within Brisbane and other regions of Queensland - such and the Gold and Sunshine coasts - have "bottomed out," he said. 

Christopher will air his views about the Queensland property market at an Afternoon of Property seminar on September 19.