Southbank properties raise price expectations but still feature on SQM's Victorian discount list
SQM Research’s top 10 discounted properties list this week focuses solely on Victoria. It's headed by a Hoppers Crossing property that has been on the market since April 2011. Melbourne properties don't usually make it onto the most discounted national list, save for two Southbank apartments, 195/38 Kavanagh Street and 2506/83 Queensbridge Street, whichhave made appearances for several months.
The price hopes for the Kavanagh Street property were $1.1 million in mid-August, but now the vendors are hoping for $1.18 million. This is still a 25% discount on the $1.56 million the vendors wanted for the property when they listed it in September 2010.
The Queensbridge Street unit made its debut on SQM's list in mid-June with a price reduction of 30%, from $2.15 million to $1.5 million. The vendors are now hoping to secure $1.65 million, a discount of 23% from its original October 2010 price hopes.
1
1/9 Albert Place, Hoppers Crossing, VIC, 3029
On the market since: May 28, 2011
Initial asking price: $535,000
Current asking price: $400,000
Reduction: 25%
Days on market: 112
2
1365 Ballan Road, Wyndham Vale, VIC, 3024
On the market since: May 22, 2010
Initial asking price: $2.4 million
Current asking price: $1.8 million
Reduction: 25%
Days on market: 483
3
14/62 Herbert Street, Dandenong, VIC, 3175
On the market since: July 23, 2011
Initial asking price: $279,000
Current asking price: $210,000
Reduction: 25%
Days on market: 56
4
195/38 Kavanagh Street, Southbank, VIC, 3006
On the market since: September 11, 2010
Initial asking price: $1.56 million
Current asking price: $1.18 million
Reduction: 25%
Days on market: 371
5
5/12 Aenone Avenue, Noble Park, VIC, 3174
On the market since: July 16, 2011
Initial asking price: $315,000
Current asking price: $240,000
Reduction: 24%
Days on market: 63
6
2506/83 Queensbridge Street, Southbank, VIC, 3006
On the market since: October 31, 2010
Initial asking price: $2.15 million
Current asking price: $1.65 million
Reduction: 23%
Days on market: 322
7
1 Elizabeth Street, Doncaster East, VIC, 3109
On the market since: June 25, 2011
Initial asking price: $1.05 million
Current asking price: $826,000
Reduction: 21%
Days on market: 84
8
2/167 Ormond Road, Hampton Park, VIC, 3976
On the market since: January 29, 2011
Initial asking price: $330,000
Current asking price: $260,000
Reduction: 21%
Days on market: 231
9
2 Ladd Sqaure, Emerald, VIC, 3782
On the market since: March 12, 2011
Initial asking price: $690,000
Current asking price: $550,000
Reduction: 20%
Days on market: 189
10
713/488 Swanston Street, Carlton, VIC, 3053
On the market since: November 13, 2010
Initial asking price: $350,000
Current asking price: $280,000
Reduction: 20%
Days on market: 308
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.
