Top ten most discounted properties nationwide: SQM Research
A key property in SQM Research's latest top ten most discounted national properties is a 2 bedroom home on 585 square metres in Oberon, currently on the market for $149,000.
Oberon, on the New South Wales central tablelands, is chiefly known for farming and forestry. The property, located at 118 Queen St, has been discounted 50% down from the initial asking price of $299,000 after 929 days on the market.
The most heavily discounted property is in Queenlsland's Ranelagh, with a 50% reduction in asking price from the initial $2 million following 859 days on the market
According to SQM Research managing director Louis Christopher the two Carabooda residences (numbers 5 and 6 below) have a lot more in common then their postcodes.
"Both properties jumped onto the market back in early August 2013, both are rural estates with plenty of acreage and commercial opportunity, and more recently both have been reduced down to a flat million," Mr Christopher said.
"Just last month, 219 Bernard Road dropped from $2,272,000 to $2 million, a total reduction of $272,000. The property had previously been on the market at $2,272,000 for just under two years. Prior to this the vendor had reduced the asking price down from $million. Currently the total reduction of this property is at high $1.5 million.
"On the smaller side, the vendor of 292 Carabooda Road has knocked down the price from $1,032,000 to $1 million within the last week. The property had been sitting at just over $1 million for just over a year now. Back in September 2013 the vendor dropped the price from $1,390,000 to $1,032,000, and before that from a whopping $1,650,000. The most recent reduction of $30,0000 appears somewhat modest compared to prior price reductions, this suggests that the owners have come a standstill and wont get much lower than this. "
